The Inflation Reduction Act (IRA) 45W Commercial Clean Vehicle Credit offers up to $40,000 per EV as an incentive for companies to help modernize commercial fleets, however, there is uncertainty around the program's continuation.
Harbinger was founded on the belief that for electric vehicles to become ubiquitous, they need to be available at price parity with diesel vehicles, and the IRA 45W tax credit was one measure to help achieve this. With the current uncertainty surrounding financial support for EVs, today Harbinger is launching this program to guarantee customers will receive a similar cost reduction, even if the IRA tax credit is discontinued during the current tax year.
Through the IRA Risk-Free Guarantee program, customers enjoy a lower upfront cost for a Harbinger electric vehicle. For example, Harbinger's model S524, a Class 5, 158 inch stripped chassis with a 140 kWh battery capacity, currently has an MSRP of $103,200. Buyers of this model will receive an IRA Risk-Free Guarantee credit of $12,900 at the time of purchase, bringing initial cost down to $90,300. This matches the typical selling price of the equivalent Freightliner MT-45 diesel medium-duty stripped chassis, in addition to the Harbinger electric chassis offering enormous fuel and maintenance cost savings.
If the IRA 45W tax incentive remains in effect on January 1, 2026, for tax year 2025, the buyer will owe a second payment equivalent to the amount advanced by Harbinger, in this example, $12,900. If the IRA incentive is repealed, Harbinger will automatically waive the second payment, thus ensuring that the customer realizes the same purchase price, with or without the IRA.
"We created this program to eliminate the financial uncertainty for customers who are interested in EV adoption, but are concerned about the future of the IRA tax credit," said John Harris, Co-founder and CEO of Harbinger.
"For electric vehicles to go mainstream, they must be cost-competitive with diesel vehicles. While the IRA tax credit helps bridge that gap, we remain committed to price parity with diesel, even if the credit disappears. Our vertically integrated approach enables us to keep costs low, shields us from tariff volatility, and ensures long-term price stability for our customers."
Harbinger's first-of-its-kind electric stripped chassis is engineered to bring innovation to medium-duty vehicles, including walk-in vans, box trucks, RVs, utility vans, and emergency response vehicles.
The chassis and its major components, which include the battery pack and integrated electric drive unit, are all developed and manufactured in-house. This built in America approach ensures higher quality, greater durability, and a safer alternative to retrofitted combustion-engine platforms, while also supporting domestic manufacturing and job creation. Harbinger sells its electric stripped chassis to dealers, specialty upfitters, or large fleet customers. These buyers then collaborate with third parties to add commercial or specialty bodies - the standard approach in the medium-duty vehicle industry.
Harbinger recently announced its order book, which consists of 4,690 vehicle binding pre-orders. The orders are valued at approximately $500 million. At that time, the company also announced it raised $100 million in Series B funds. The funds are helping accelerate growth and will allow Harbinger to achieve higher volume production. Thanks to the additional funds, Harbinger has the flexibility to invest in long-term, higher-volume supplier tooling, a key component to improving cost of goods sold and keeping vehicle prices low for customers.
About Harbinger:
Harbinger is an American commercial electric vehicle (EV) company on a mission to transform an industry starving for innovation. Harbinger's best-in-class team of EV, battery, and drivetrain experts have pooled their deep experience to support the growing demand for medium-duty EVs. Leveraging a foundation of proprietary, in-house developed vehicle technologies designed specifically for commercial and specialty vehicles, Harbinger is bringing a first-of-its-kind EV platform to market, priced at acquisition parity to traditional diesel vehicles. Harbinger: Familiar Form, Revolutionary Foundation.
For more information please visit www.harbingermotors.com