California-based Harbinger, a medium-duty electric vehicle (EV) company, recently launched the IRA Risk-Free Guarantee program.
“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,” John Harris, Harbinger co-founder and CEO, said. “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.”
The Inflation Reduction Act (IRA) 45W Commercial Clean Vehicle Credit provides up to $40,000 per EV as an incentive for companies to modernize commercial fleets. It was intended to put EVs on price parity with diesel vehicles.
Harbinger’s program will guarantee customers a similar cost reduction. The company’s model S524, for example, has an MSRP of $103,200. Buyers would receive a program credit of $12,900 at the time of purchase. Buyers would owe a payment of $12,900 if the IRA 45W tax incentive remains in effect on Jan. 1, 2026, for tax year 2025.