Riverside, CA: MVP RV Inc wins $5 Billion China export order

Riverside, California based MVP RV Inc., in partnership with China-based Winston Global Energy, is to export more than 30,000 Recreational Vehicles (RVs) - worth in excess of $5 billion - to China over the next four years. The agreement was cited by The White House yesterday during Chinese President Hu Jintao’s state visit – his second visit to the US since he became President of the PRC in 2003 -and is being lauded as an important step in the continued development of the recreation vehicle industry in China. “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.

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. “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,” said Williams who indicated that the infusion of capital would further strengthen the company’s production of RVs for the U.S. market where interest has been steadily growing.

In July 2008, MVP RV Acquisition Corporation, an affiliation of former Thor executives, agreed to purchase Moreno Valley based Thor California, Inc. – a subsidiary of Thor Industries, Inc - and renamed the company “MVP RV.” The company manufactures Coast and Summit travel trailers and Destiny and Jazz fifth wheels along with Envy, Vortex and Impact toy haulers and the Class C Tahoe RV. “The new management team has a visionary strategy for the development of MVP RV,” said President and CEO Brad Williams. “The face of the RV industry is changing dramatically and we plan on having a lasting impact as we chart a new course.” MVP RV, Inc. currently employs 250 people at its 500,000 square foot manufacturing facility and continues to expand its dealer network in the United States and Canada.