News Summary

Harbinger, an emerging electric vehicle (EV) startup, has successfully raised $100 million in a Series B funding round. The round was co-led by Capricorn Investment Group, an early investor in Tesla, and Leitmotif, a U.S. fund co-founded by Volkswagen’s former head of M&A. Other notable participants included Tiger Global and Maniv, both existing investors. In contrast, Tesla experienced both victory and setback in federal funding applications. The Department of Transportation rejected Tesla’s $97 million proposal for a big-rig charging corridor from California to Texas. However, Tesla, alongside three industry partners, received a separate award of $100 million to build electric truck charging stations across Illinois. These developments highlight ongoing investment and strategic shifts in the EV industry.