“Dragonfly is thrilled to take this next step with THOR to solidify our long-term collaboration. As we forge ahead, our strategic partnership with Dragonfly will allow for meaningful engagement with its leadership to ensure long term alignment of a crucial element of our supply chain with THOR's strategic vision and to provide one of many building blocks to a comprehensive aftermarket strategy,” added Todd Woelfer, THOR's Chief Operating Officer. The relationship also furthers our ESG commitment as Dragonfly's patented all-solid-state cell technology is positioned to enable a more sustainable and reliable smart energy grid. In addition to a potential strong financial return on our investment, our equity position creates the opportunity for agreed exclusivity and co-development rights in RV industry-specific applications of lithium-ion energy storage solutions. Keystone currently enjoys an exclusive relationship with Dragonfly for certain battery brands that, in time, will expand to an exclusive relationship across the entire family of THOR brands. The leadership team at Dragonfly has demonstrated the success of its operations model that focuses on inventory management and domestic production, thereby reducing supply chain risk. Dragonfly has demonstrated its leadership in the crucial Lithium-ion battery supply. “As we discussed at our recent investor day, THOR is acutely focused on aligning with leading technology companies in the RV space. Our alignment with Dragonfly is a natural fit to the evolution of our product lines that empower the owners of our companies' RVs to Go Everywhere and Stay Anywhere™,' offered Bob Martin, President and CEO of THOR Industries. The proven success of the products in the field and synergistic value-add relationship made this investment an important one to us. Dragonfly has been a valued partner to one of our largest and most successful North American RV companies, Keystone RV, a THOR operating company. “Our investment in Dragonfly furthers THOR's dedication to continuously improving the user experience of THOR RVers by providing them a best-in-class energy storage solution that enables RVers to boondock and camp off the grid. In May 2022, Dragonfly entered into a merger agreement for a business combination transaction with Chardan NexTech Acquisition 2 Corp. Dragonfly's innovative approach to energy storage - including the development of battery packs, energy systems, and cell manufacturing technologies – is distinctive in its focus on a best-in-class user experience. and RENO, Nev., J(GLOBE NEWSWIRE) - Today, THOR Industries (NYSE: THO) announced that it has made a strategic investment in Dragonfly Energy, a leading deep cycle lithium-ion battery producer to the RV industry.
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