THOR INDUSTRIES PARTNERS WITH HARBINGER MOTORS TO ACCELERATE ELECTRIFICATION OF RV CONSUMER EXPERIENCE

Rhea-AI Summary

THOR Industries (NYSE: THO) has announced a strategic partnership with Harbinger Motors to enhance electrification in the RV sector. This collaboration focuses on developing a comprehensive electrified RV ecosystem aimed at improving consumer experiences. Harbinger Motors is recognized for its proprietary technology tailored for medium-duty EVs, which is crucial for THOR's electrification strategy. Both companies are committed to integrating design, safety, comfort, and technology to meet the evolving needs of RV consumers.

Positive

• Strategic partnership with Harbinger Motors to enhance electrification of RVs.
• Combining THOR's industry leadership with Harbinger's proprietary EV technology.
• Focus on creating a comprehensive electrified RV ecosystem.

Negative

• None.

Company continues RV industry leadership role in eMobility innovation

ELKHART, Ind., Nov. 3, 2022 /PRNewswire/ -- Today, THOR Industries, Inc. (NYSE: THO), the global RV industry leader, announced that it has entered into a strategic partnership with Harbinger Motors, Inc., a best-in-class commercial electric vehicle (EV) company delivering proprietary, industry-leading EV technology targeted to the medium-duty chassis platforms utilized in the RV industry.

THOR is committed to enhancing the RV experience through a holistic, global eMobility innovation strategy, which was unveiled in early 2022. Creating a superior electrified experience requires a comprehensive electrified RV ecosystem that drives a best-in-class experience for THOR owners. Powered by its proprietary technology, Harbinger Motors is a recognized leader in the medium-duty motorized EV space with the talent, experience and demonstrated performance to help accelerate THOR's electrification of RVs, including larger RVs like Class A motorhomes.

"THOR is excited to partner with Harbinger Motors to enhance the electrified RV experience for our consumers. Identifying the right partners is key to our electrification strategy. Harbinger's proprietary technology and their focus on medium-duty solutions makes them a great partner for THOR. This partnership is about more than a best-in-class EV chassis, it's focused on developing an electrified RV ecosystem as we execute on THOR's defined eMobility strategy," shared Todd Woelfer, THOR Chief Operating Officer. "Harbinger is aligned with the THOR family of operating companies and our global innovation team to position us to help deliver the RV experience today's owners seek and tomorrow's RVers dream of - from design and safety to comfort and technology."

John Harris, Harbinger's Chief Executive Officer added, "We are extremely excited about the strategic partnership with THOR Industries. The combination of our proprietary solution and the global RV industry leader creates an exciting opportunity to offer a best-in-class electrified RV lineup. This partnership validates the uniqueness of our technology platform and how our EV Ecosystem view will benefit THOR's RV consumers. Harbinger and THOR share a passion for maximizing the electrified experience of RVers and our partnership will bring leading solutions to the market with both speed and scale."

ABOUT THOR INDUSTRIES

THOR is the sole owner of operating companies which, combined, represent the world's largest manufacturer of RVs. For more information on the Company and its products, please visit: https://www.thorindustries.com/.

ABOUT HARBINGER MOTORS

Harbinger is a commercial electric vehicle (EV) company on a mission to transform an industry through world class 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 vehicles, Harbinger is bringing a first-of-its-kind EV platform to market, priced for zero acquisition premium. Harbinger: familiar form, revolutionary foundation. To learn more about Harbinger, please visit www.harbingermotors.com.

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SOURCE THOR Industries

FAQ

What is the partnership between THOR Industries and Harbinger Motors?

THOR Industries has partnered with Harbinger Motors to develop a comprehensive electrified RV ecosystem, enhancing consumer experiences in the RV sector.

How will the partnership benefit THOR Industries (THO) shareholders?

The partnership aims to strengthen THOR's position in the electrified RV market, potentially leading to increased sales and market share, which could benefit shareholders.

When was the partnership between THOR Industries and Harbinger Motors announced?

The partnership was announced on November 3, 2022.

What technology does Harbinger Motors provide to THOR Industries?

Harbinger Motors offers proprietary technology for medium-duty electric vehicles that will enhance THOR's RV electrification efforts.