Harbinger, a leading medium-duty electric vehicle (EV) company working with Thor Industries to build a hybrid Type A motorhome, raised $100 million in its latest funding round.
Thor Industries and its investment partner, TechNexus, were among nearly a dozen investors.
Harbinger said the company has 4,690 vehicle orders valued at $500 million, including Thor’s hybrid Type A motorhome. The motorhome debuted at Elkhart Extravaganza and is expected to be commercially available this year.
Dipender Saluja, managing partner of funding investor Capricorn Investment Group’s Technology Impact Fund, said, “Harbinger has demonstrated a remarkable ability to reach significant milestones far quicker than other EV companies. The market has been impressed by their ability to develop large portions of the vehicle in-house to drive down unit costs, while remaining capital efficient.”
Harbinger has raised $200 million in funding rounds since its 2021 funding. The company said its latest funding round will enable the manufacturer to:
- Ramp to higher-volume production capacity through initial production to meet customer demand
- Advance the build-out of the company’s distribution, customer support and service operations
- Invest in new product lines and continued technology development
- Gain flexibility to invest in long-term, higher-volume supplier tooling, a key component to improving cost of goods sold and keeping vehicle prices low for customers
Harbinger co-founder and CEO John Harris said, “Harbinger is entering a rapid growth phase where we are focused on scaling production of our customer-ready platform. These funds catalyze significant revenue generation. We have developed a vehicle for a segment that is ripe for electrification, and there is a strong product market fit that will help fuel our upward trajectory through 2025 and beyond.”
