Evotrex Secures $30M for Hybrid RVs Aimed at Eliminating Charging Needs
Startup Evotrex has raised $30 million in Series A funding to produce hybrid RV travel trailers. These vehicles are designed to eliminate the need for traditional charging stations, with production targeting around 1,000 units annually starting next year. The funding will support manufacturing and testing as the company enters a competitive market.
Key points
- Evotrex raised $30 million in Series A funding.
- The company plans to sell hybrid RV travel trailers starting next year.
- Production target is approximately 1,000 units annually.
- Total funding raised by Evotrex now stands at $46 million.
Evotrex, a two-year-old startup, has successfully closed a $30 million Series A funding round, boosting its total capital raised to $46 million. The investment, led by Chinese and Hong Kong-based firms including GSR United Capital and Forebright Concerto Capital, will enable the company to begin production of its hybrid RV travel trailers next year.
The company aims to produce around 1,000 units annually. Evotrex's innovation lies in its hybrid RV design, which seeks to eliminate the necessity for external charging stations. This move addresses a gap in the market, as traditional RV manufacturers have been slow to introduce electric or hybrid options, with some models currently in testing phases without consumer availability.
Evotrex emerged from stealth mode last year and revealed its prototype at this year's Consumer Electronics Show. The funding will be crucial for finalizing vehicle development, testing, and establishing a market presence amidst growing competition from other startups in the emerging electric and hybrid RV sector.
Sources
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