en.Wedoany.com Reported - Evotrex has completed a $30 million Series A funding round and plans to begin building and selling its first batch of hybrid RV travel trailers next year, targeting an annual production volume of approximately 1,000 units. The Los Angeles-based startup has thus raised a total of $46 million, with the majority of funds coming from a consortium of Chinese and Hong Kong investment firms, including GSR United Capital, Forebright Concerto Capital, TTGG Ventures, and Pegasus Capital. Consumer electronics company Anker is among its seed investors.
The company will use the funds to complete the construction and testing of its RV model, which made its debut at the Consumer Electronics Show (CES) last year after emerging from stealth mode. Evotrex needs to establish a foothold in a crowded startup landscape. Traditional manufacturers have been slow to act: Thor's first electric vehicle will be supplied to rental fleets rather than dealers, and Winnebago's eRV2 has been undergoing field testing since 2023 without reaching consumers. This market gap has attracted a wave of startups, and Evotrex is racing to fill it first.
Co-founder Alex Xiao said he is not afraid of competition and is leveraging his experience as a product manager at Anker to help Evotrex stand out. He believes that in the long run, the strongest companies need to possess product definition, R&D, and supply chain capabilities, while also excelling in distribution and service—a complex business.
In terms of technology, Evotrex is one of the few RV startups building hybrid powertrains. Its product is an RV powered by a battery pack that can be recharged via an onboard gasoline engine, an approach commonly referred to as an extended-range electric vehicle (EREV). Xiao said the goal is to create an RV that allows people to live off the grid for extended periods, something that is difficult to achieve with pure electric or traditional gasoline power sources.
The product has already gained market recognition. Evotrex stated that 90% of its existing orders are for the fully loaded luxury version of the PG5 RV, priced at approximately $160,000. Xiao revealed that the company has completed validation of the functional version of its first RV but still needs 10 to 12 months to fully test the durability of the PG5. RVs have too many moving parts, making mechanical integrity challenging, and Evotrex takes this seriously. The company's first service employee joined six months ago, while its first sales employee only joined last month, indicating its priority on the ability to support customers.
Evotrex plans to manufacture its RVs in China and complete final assembly in California. Xiao said the locations for both sites are still being finalized, but he believes the Los Angeles base helps access the target market and a range of nearby climate conditions useful for testing. Drawing on his experience at Anker, he focuses on identifying genuine customer needs and delivering good products, turning customers into advocates for the product.
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