Chinese Firm Injecting $310M into MVP RV
China-based Winston Battery Ltd. plans a $310 million capital injection in MVP RV, Riverside, Calif., to promote motorhome exports to China, according to a White House release, Investor’s Business Daily has reported.
The U.S. company has an existing distributor relationship with privately-held Winston Battery Ltd., based in Shenzhen, China.
Additionally, Winston Battery Ltd. will provide capital for the development of all-electric recreation vehicles and charging systems. The goal is to export over 10,000 Class A motorhomes and 20,000 Class C motorhomes to China in the next three to four years.
MVP estimates the value of these exports to be over $5 billion. The agreement specifies the intention to export vehicles to China through Winston and the eventual incorporation of an all-electric powertrain to future vehicles.
Click here to read a fact sheet from the White House announcing this and other U.S.-Chinese commercial relations.
As reported earlier by RVBUSIUNESS.com, MVP showed a prototype of an all-electric Class A motorhome in October at the 25th World Battery, Hybrid and Fuel Cell Symposium (EVS) in Shenzhen, China, at the behest of MVP RV investor Winston Chung, developer of the lithium-ion battery.
The 42-foot 44,000-pound GVWR all-electric prototype, named the ”Winston” and purchased by Chung, is powered by Thunder Sky batteries produced by Chung’s China-based Winston Battery LLC.
Inside, the quadslide, tag axle coach has the look and feel of a diesel motorhome with granite countertops and tile floors. ”The only difference is that it runs on batteries,” MVP President Scott Degnan said. ”It’s very quiet and has a lot of torque. It takes off like a golf cart.”
Degnan declined to specify the coach’s chassis or how many batteries it takes to power the Winston, which was developed on the hush-hush and isn’t likely to show up on the U.S. consumer market anytime soon. The prototype has no backup engine, gets only 180 miles on a charge and has a top speed of 70 mph. On the U.S. retail market, the Winston probably would cost in the range of $1 million, Degnan said.
”We are way ahead of the curve on this; we’re not ready for U.S. production,” Degnan said. ”It’s too expensive and America’s not ready for it. The diesel market in the U.S. has been hampered and this is more expensive than that.”
Another prototype, however, is in the works. ”We are going to build another one in Riverside in the near future and tighten it up a bit,” Dengan said.
The Winston was cited by Recreation Vehicle Industry (RVIA) President Richard Coon as evidence of forward thinking R&D in the RV industry during RVIA’s Outlook Breakfast Nov. 30 attended by more than 1,000 people as the Louisville show opened.