The startup, which emerged from stealth last year, has now raised a total of $46 million. Key backers include GSR United Capital, Forebright Concerto Capital, TTGG Ventures, and consumer electronics firm Anker. This capital infusion is earmarked for the final development and durability testing of the company’s flagship PG5 RV, a model that utilizes an onboard gas engine to recharge its battery pack. By opting for an extended-range electric vehicle approach, Evotrex intends to solve the off-grid power challenges that have left all-electric rivals like Lightship and Pebble struggling to move beyond initial prototypes.
Market demand appears robust, as 90% of the company’s current orders are for the high-end Premium trim, retailing at approximately $160,000. Co-founder Alex Xiao, a former product manager at Anker, is prioritizing mechanical reliability over rapid sales growth. He points to the early hiring of service staff as proof that the company is focused on long-term product integrity. While manufacturing will be split between China and California, the team is currently finalizing testing protocols to ensure the PG5 can withstand the rigors of extended travel. With traditional manufacturers like Thor and Winnebago still navigating the transition to electric, Evotrex is positioning itself to capture the premium segment by emphasizing product definition and customer-led advocacy.
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