Company delivers world's first electric
vehicle prototypes as leader in eMobility
ELKHART,
Ind., Oct. 29, 2024 /PRNewswire/ -- For nearly
45 years, THOR Industries has utilized responsible and sustainable
business practices in its operations as its products inspire people
to connect with nature and one another to Go Everywhere. Stay
Anywhere®. Today, THOR Industries, Inc. (NYSE: THO), the
world's largest recreational vehicle (RV) manufacturer, published
its seventh annual sustainability report detailing the Company's
industry-leading sustainability efforts for its fiscal year ended
July 31, 2024 (FY2024) across its
global family of companies.
"At THOR, the idea of sustainability is not just a talking
point. Sustainability is a core principle upon which we operate our
company," shared Bob Martin, THOR
President and CEO. "We are committed to making changes now to
ensure a sustainable future exists so people can continue to
connect with nature, and families with one another, to create
lifelong memories."
THOR has taken significant steps in its sustainability journey
to lead the way for the industry including attaining approval from
the distinguished Science Based Targets initiative (SBTi)
Validation Team confirming THOR's Scope 1 and Scope 2 short-term
targets and Scope 1, 2 and 3 long-term targets are aligned with the
SBTi's 1.5˚C mitigation pathways for reaching net-zero by 2050 or
sooner.
FY2024 Sustainability Journey Highlights:
- THOR proactively completed a double materiality assessment as
an initial step towards compliance with the upcoming European
sustainability regulations.
- Installed solar projects at North American operating companies
which, to date, have eliminated 3,595 MTCO2e – the
equivalent to 856 gasoline vehicles driven for one year.
- Decreased global Scope 1 and Scope 2 emissions by 27.4% vs. the
baseline Fiscal Year 2019.
- Advanced its emobility innovation leadership by developing the
world's first hybrid Class A motorhome test vehicle and the world's
first fully electric fifth wheel trailer prototype. The hybrid
Class A motorhome, developed in partnership with Harbinger,
delivers an estimated 500 miles of range, and is expected to
qualify as a Near-Zero Emissions Vehicle (NZEV) under the Advanced
Clean Truck legislation, adopted by the California Air Resources
Board (CARB). The world's first fully electric fifth wheel trailer
prototype was successfully introduced to an operating company's
dealer network at their annual dealer meeting.
- Debuted the Hymer Eriba® Touring Sustainability Concept Vehicle
which is focused on sustainable production methods, features
greater use of environmentally-friendly materials, and is
anticipated to reduce CO2 emissions due to reduced
vehicle weight.
- Submitted the Company's fourth annual Carbon & Climate
questionnaire to the CDP to provide visibility and disclosure
around efforts to measure, manage, disclose and reduce GHG
emissions, water usage, and forestry impact.
- Partnered with the RV Industry Association to re-establish the
RVIA Workplace Safety Committee to share best practices and serve
as an educational resource.
- Supported and partnered with over 150 non-profit organizations
across the THOR family of companies, including a strategic
partnership with the National Forest Foundation, whose mission is
to help combat threats to the outdoor lifestyle. THOR is one of the
foundation's most significant corporate sponsors.
- Honored and publicly recognized in Newsweek & Statista's
list of "World's Most Trustworthy Companies" for the second time,
Newsweek & Statista's list of "Most Trustworthy Companies in
America" for a third year in a row, Newsweek & Statista's list
of "America's Most Responsible Companies" for a second year, US
News & World Report's "Best Companies to Work For", and
USA Today & Statista's
"America's Climate Leaders" for THOR's commitment to
sustainability.
"As we continue to execute on our long-term strategic plan, we
remain focused on contributing to a sustainable future to allow
great outdoor experiences, not only for our customers today but for
generations to come, which is a cornerstone of our business," added
Todd Woelfer, THOR SVP and Chief Operating Officer. "Our
global sustainability program highlights our deep-rooted commitment
to better the lives of our team members and customers, foster the
viability of diverse communities, and promote a clean and safe
environment."
THOR's FY2024 Sustainability Report was published in electronic
format only and may be viewed on the Company's website at:
www.thorindustries.com/sustainability-report.
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/.
Forward-Looking Statements
This release includes
certain statements that are "forward-looking" statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements are made based on management's
current expectations and beliefs regarding future and anticipated
developments and their effects upon THOR, and inherently involve
uncertainties and risks. These forward-looking statements are not a
guarantee of future performance. We cannot assure you that actual
results will not differ materially from our expectations. Factors
which could cause materially different results include, among
others: the impact of inflation on the cost of our products as well
as on general consumer demand; the effect of raw material and
commodity price fluctuations, and/or raw material, commodity or
chassis supply constraints; the impact of war, military conflict,
terrorism and/or cyber-attacks, including state-sponsored or ransom
attacks; the impact of sudden or significant adverse changes in the
cost and/or availability of energy or fuel, including those caused
by geopolitical events, on our costs of operation, on raw material
prices, on our suppliers, on our independent dealers or on retail
customers; the dependence on a small group of suppliers for certain
components used in production, including chassis; interest rates
and interest rate fluctuations and their potential impact on the
general economy and, specifically, on our independent dealers and
consumers and our profitability; the ability to ramp production up
or down quickly in response to rapid changes in demand while also
managing costs and market share; the level and magnitude of
warranty and recall claims incurred; the ability of our suppliers
to financially support any defects in their products; the financial
health of our independent dealers and their ability to successfully
manage through various economic conditions; legislative, regulatory
and tax law and/or policy developments including their potential
impact on our independent dealers, retail customers or on our
suppliers; the costs of compliance with governmental regulation;
the impact of an adverse outcome or conclusion related to current
or future litigation or regulatory investigations; public
perception of and the costs related to environmental, social and
governance matters; legal and compliance issues including those
that may arise in conjunction with recently completed transactions;
lower consumer confidence and the level of discretionary consumer
spending; the impact of exchange rate fluctuations; restrictive
lending practices which could negatively impact our independent
dealers and/or retail consumers; management changes; the success of
new and existing products and services; the ability to maintain
strong brands and develop innovative products that meet consumer
demands; the ability to efficiently utilize existing production
facilities; changes in consumer preferences; the risks associated
with acquisitions, including: the pace and successful closing of an
acquisition, the integration and financial impact thereof, the
level of achievement of anticipated operating synergies from
acquisitions, the potential for unknown or understated liabilities
related to acquisitions, the potential loss of existing customers
of acquisitions and our ability to retain key management personnel
of acquired companies; a shortage of necessary personnel for
production and increasing labor costs and related employee benefits
to attract and retain production personnel in times of high demand;
the loss or reduction of sales to key independent dealers, and
stocking level decisions of our independent dealers; disruption of
the delivery of units to independent dealers or the disruption of
delivery of raw materials, including chassis, to our facilities;
increasing costs for freight and transportation; the ability to
protect our information technology systems from data breaches,
cyber-attacks and/or network disruptions; asset impairment charges;
competition; the impact of losses under repurchase agreements; the
impact of the strength of the U.S. dollar on international demand
for products priced in U.S. dollars; general economic, market,
public health and political conditions in the various countries in
which our products are produced and/or sold; the impact of changing
emissions and other related climate change regulations in the
various jurisdictions in which our products are produced, used
and/or sold; changes to our investment and capital allocation
strategies or other facets of our strategic plan; and changes in
market liquidity conditions, credit ratings and other factors that
may impact our access to future funding and the cost of debt.
These and other risks and uncertainties are discussed more fully in
Item 1A of our Annual Report on Form 10-K for the year ended
July 31, 2024.
We disclaim any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained in
this release or to reflect any change in our expectations after the
date hereof or any change in events, conditions or circumstances on
which any statement is based, except as required by law.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/thor-industries-issues-seventh-annual-sustainability-report-302290230.html
SOURCE THOR Industries