Evotrex Raised $30M in Series A Round to Build Hybrid RVs

A large share of the funding came from Chinese and Hong Kong investors, including GSR United Capital, Forebright Concerto Capital, TTGG Ventures, and Pegasus Capital. Electronics maker Anker also participated as a seed investor.

The Los Angeles-based startup plans to use the capital to complete the development and testing of its first electric RV, which it unveiled at CES earlier this year after emerging from stealth mode in 2024.

Evotrex is entering a competitive market where established RV makers are also developing electric models. Thor's electric RV is currently aimed at rental fleets while Winnebago's eRV2 has been undergoing trials since 2023. Evotrex aims to bring its product to market ahead of rivals and establish an early lead in the segment.

“We are not afraid of competition; competition is a good sign. We push the market forward together and grow it together. In the long term, the strongest companies will have many aspects – you need to clearly define the product, engage in R&D and supply chains. It is also important to have strong distribution and service. Many things together. This is a very complex business, " Alex Xiao CEO and founder, Evotrex said.

According to founder Xiao, Evotrex aims to build an RV that can operate off the grid for extended periods, combining the advantages of electric and gas-powered systems.

The company says about 90% of customer orders are for its premium PG5 model, which is priced at around $160,000.

Evotrex has completed testing of a working prototype and expects to spend the next 10–12 months validating the vehicle's durability before commercial launch. The startup has also begun building its customer support and sales teams.

The company plans to manufacture the RV in China and carry out final assembly in California. Xiao said Los Angeles offers access to key customers and suitable testing conditions.

Drawing on lessons from his time at Anker, Xiao believes success comes from identifying genuine customer demand and delivering a high-quality product that customers are eager to recommend.

Over the long term, Evotrex plans to increase production, expand into new markets, and build partnerships to promote a new generation of technology-driven RV travel.