RIVERSIDE, Calif.--(BUSINESS WIRE)--More than 30,000 recreation vehicles (RVs) worth in excess of $5 billion will be manufactured in the U.S. and exported to China over the next three to four years as the result of an agreement between Riverside, California-based MVP RV, Inc. and China-based Winston Global Energy.
“We are delighted to make this announcement, which will have such a positive effect on California’s Inland Empire”
The agreement was cited by The White House in conjunction with Chinese President Hu Jintao’s state visit and is being heralded as a significant step in the continued development of the recreation vehicle industry in China.
Under the agreement, Winston Global Energy, owned by Winston Chung, an international entrepreneur and inventor of the rare earth lithium ion battery, will provide $310 million 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.
“We are delighted to make this announcement, which will have such a positive effect on California’s Inland Empire,” said MVP RV President and CEO Brad Williams. “This will reinvigorate the industry and create new market opportunities with innovative products and superior customer service that have global appeal. Over 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.”
Williams said that the infusion of capital would also further strengthen the company’s production of RVs for the U.S. market where interest has been steadily growing.
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.