Chervon Holdings Limited (2285.HK) recently announced a strategic agreement with John Deere. This enables EGO branded battery products to be sold through John Deere dealers, and both parties will also collaborate on developing new products in the future.

John Deere is a global leader in the delivery of agricultural, turf, construction, and forestry equipment. With the technology-enabled products ( Autonomous 8R Tractor, See & Spray(TM), and E-Power Backhoe), John Deere helps meet the world's increasing need for food, shelter, and infrastructure. Chervon, the parent company of EGO and a leading global player in the Battery-Powered Outdoor Power Equipment (OPE) and Power Tool industry, its products are sold in more than 100 countries.

As part of this agreement, EGO's complete range of mowers, blowers, trimmers, edgers, chainsaws, and snow blowers will be available at John Deere dealers in the United States and Canada starting in the fall of 2023. This collaboration will enable customers to access EGO's innovative and high-performance products conveniently through John Deere's extensive network, known for its commitment to excellence and customer service. In addition, Chervon and John Deere will collaborate on the development of new products in the future.

Currently, the global Outdoor Power Equipment (OPE) industry is undergoing a rapid transformation, and the lithium-ion OPE sector is experiencing a golden period of accelerated growth. Chinese manufacturers have emerged as strong players in the race, capitalizing on their strong lithium-ion supply chain advantages, excellent research and development capabilities, and forward-looking strategies. Among them, Chervon has established a solid competitive barrier through its three pillars of "Product + Brand + Channel". Since its introduction in 2014, its EGO brand has experienced rapid development, leading-edge triple battery technology, and high product quality to secure a prominent position in the industry. The 56V battery pack platform fits all EGO branded products, help consisting the EGO battery pack ecosystem, and has become the top-ranked brand in the lithium-ion platform outdoor power equipment sector. The strong collaboration between Chervon and John Deere, brings together the integrated benefits of technology, channels and brand value, setting an example for leading industry participants actively driving industry innovation.