Harbinger acquires autonomous driving company Phantom AI

Harbinger, an innovative player in the electric trucking sector, has made a strategic move by acquiring the autonomous driving software firm Phantom AI. This marks Harbinger’s inaugural acquisition as it seeks to enhance its technological capabilities and unlock new revenue avenues. The acquisition aligns with Harbinger's ambitions to broaden its offerings beyond the electric truck chassis that have been its focus for the past year. Recently, the company revealed plans to market its battery packs for energy storage and auxiliary power, with Airstream being its first client. In a significant development, Harbinger announced that it has already secured a customer for the advanced driver assistance technology acquired from Phantom AI. The renowned German automotive technology corporation, ZF Group, has committed to licensing this technology from Harbinger, intending to integrate it into passenger vehicles for various automakers. Specific details surrounding the financial terms of these agreements remain undisclosed. John Harris, co-founder and CEO of Harbinger, shared with TechCrunch that he anticipates this new software service line will yield "millions" in revenue within this year, though he noted that this amount would still be relatively minor compared to the profits from selling the truck chassis. The startup recently completed a funding round that raised $160 million, co-led by FedEx and THOR Industries, both of which are current customers. Harris expects the deal with ZF Group to become a more substantial revenue source by 2027 or 2028, highlighting that while the passenger car market may evolve slower, the potential volume is substantial. He mentioned that Harbinger has been utilizing Phantom AI’s driver assistance technology and the acquisition will further enhance their integration, offering significant benefits to Harbinger’s clientele. The need for safety features in medium-duty trucking is pressing, according to Harris. He pointed out that many medium-duty vehicles currently lack essential safety systems such as backup cameras and automatic emergency braking. Harbinger aims to address these gaps, as many of these vehicles operate in high-risk environments such as truck ports and residential neighborhoods. While Harbinger is headquartered in Los Angeles, Phantom AI will maintain its 30 employees, including its leadership, in Mountain View, ensuring continuity in operations and innovation.