THOR Industries and its investment partner TechNexus Venture Collaborative were the co-leaders of a funding round for California-based Harbinger Motors, which THOR has turned to as a potential builder of electricity-powered RVs.
THOR, along with Ridgeline, a venture capital firm, co-led the $60 million Series A investment round.
Last November, THOR signed a strategic partnership agreement with Harbinger Motors, a developer of EVs, to help it accelerate THOR’s electrification of RVs, including larger RVs such as Class A motorhomes.
“Harbinger’s focus on the medium-duty chassis market uniquely situates it to be a key partner to THOR,” said Todd Woelfer, THOR chief operating officer. “THOR is focused on offering a best-in-class solution for electric RVs, and Harbinger’s chassis will be a key component to our integrated solution. Harbinger’s proprietary technology sets it apart from other manufacturers. Their electric chassis offers game-changing driver experience, safety and vehicle operation. Harbinger is an important partner not only to our electrification strategy but also on our journey to net zero emissions which is an important element of our overall corporate strategy. At THOR, we are very excited about this partnership and what it means for our RV users and for our future.”
Added Ryan Clinton, co-founder and managing partner at Ridgeline: “Rarely do early-stage companies execute on hard problems the way the team at Harbinger has through this milestone (meaning the funding round). Ridgeline is proud to co-lead this round with THOR. The commitment of the larger strategic investors is an incredible signal that Harbinger is on the cusp of electrifying a key market segment in logistics and transportation. We have complete conviction in the team to continue to execute through volume production.”
Having THOR as an early partner has only reinforced his team’s belief that they are on the right track in bringing EVs in certain markets to full production sooner rather than later, said John Harris, CEO and co-founder of Harbinger Motors.
“THOR’s investment enables Harbinger to expand its focus beyond electrifying commercial applications into specialty vehicles,” Harris said. “We are excited to grow our relationship with THOR and present a sustainable option for recreational vehicles and the owners who seek quieter, environmentally-friendly alternatives.”
