Evotrex has raised $30 million in Series A funding to build and test its first hybrid RV travel trailer, the PG5. The Los Angeles-based startup has now raised $46 million in total and plans to start selling the RV next year, with a target of around 1,000 units a year.
The round was backed mainly by Chinese and Hong Kong-based investment firms, including GSR United Capital, Forebright Concerto Capital, TTGG Ventures, and Pegasus Capital. Consumer electronics company Anker was among Evotrex’s seed investors, according to TechCrunch.
PG5 Uses A Hybrid Power System
Evotrex is building the PG5 as a power-generating electric RV trailer. The company says the trailer uses integrated solar, advanced battery storage, and a 75 kW onboard generator to deliver more than 270 kWh of continuous power.
The system works as an extended range electric vehicle, or EREV. The RV runs on a battery pack that can be recharged by an onboard gas engine, giving it a different approach from all-electric travel trailers built by startups such as Lightship and Pebble.
Co-founder Alex Xiao told TechCrunch the goal is to let people live off-grid for longer periods. He said all-electric systems and gas systems that still need electrical hookups can make that difficult.
Startup Prepares For Testing And Production
Evotrex revealed the PG5 at CES this year after leaving stealth mode last year. The company says preorders start from $119,990, while the fully loaded Premium trim is priced around $160,000.
Xiao said Evotrex has finished validating a functional version of the RV. The company now expects to spend the next 10 to 12 months testing the PG5’s durability before selling it to customers.
Evotrex still plans to manufacture its RVs in China and complete final assembly in California. Xiao said the company is still finalizing both locations, while Los Angeles gives Evotrex access to its target market and nearby climates for testing.
Competition Grows In Electric RVs
The startup is entering a crowded field as traditional RV makers move slowly into electric models. Thor’s first electric vehicle is going to rental fleets, while Winnebago’s eRV2 has been in field testing since 2023 without reaching consumers.
Xiao said Evotrex is focused on product design, research and development, supply chain, distribution, and service. He said the company hired its first service employee before its first sales employee, reflecting its focus on customer support before launch.
Featured image credits: Magnific.com
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