MVP RV Inks Deal with Winston Global
Under the agreement, Winston Global Energy, owned by Winston Chung, an international entrepreneur and inventor of the rare earth lithium ion battery, will provide $310m in capital to MVP RV to promote motorhome exports to China.
It is expected that MVP RV will export approximately 10,000 class A motorhomes and 20,000 class C motorhomes. Additional capital will also be provided for the development of all-electric RVs and fast-charging electrical systems.
MVP RV has recently purchased a vacated RV manufacturing facility, which has 500,000 square ft. of manufacturing space on 23 acres. The facility currently produces a variety of RVs, including class A and class C motorhomes, as well as travel trailers, fifth wheels and toy haulers.
Brad Williams, president and CEO of MVP RV, said that the infusion of capital would also further strengthen the companyâ€™s production of RVs for the US market where interest has been steadily growing.
Mr Williams said: â€œWe are delighted to make this announcement, which will have such a positive effect on Californiaâ€™s Inland Empire. This will reinvigorate the industry and create new market opportunities with innovative products and superior customer service that have global appeal.
â€œOver the next 12 months, we anticipate hiring approximately 1,300 employees needed to build products for the emerging Chinese market where there is a growing interest in RV travel and camping.â€
Will the deal commercially benefit the firms?
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