The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Thu Jun 30, 2016
Dynavolt Renewable Power Technology Co. LTD., a Chinese company, has invested $2 million to acquire 2 million shares of Series A Preferred Stock in Dragonfly Energy, a privately held technology startup based in Reno, Nevada, that develops improved lithium-ion batteries for the marine and RV industries.
Dragonfly Energy started as an R&D company developing manufacturing methods for reducing the cost of energy storage. The company grew to manufacture and market a line of 12-volt deep cycle lithium-ion batteries for RV, marine and off-grid solar applications.
Denis Phares, chief executive officer of Dragonfly Energy, says the company is using the proceeds from the Dynavolt investment to widen its product offerings and accelerate its R&D program.
Phares says expansion of Dragonfly Energy’s manufacturing capacity marks a major step in the company’s goal of lowering the costs of lighter, longer-life energy storage options for customers who currently rely on lead-acid batteries. The company relies on patented, environmentally friendly processes that reduce manufacturing costs.
Dynavolt, a leading maker of energy storage products, increasingly expects that lithium-ion and other renewable technology will drive its future growth. Dynavolt’s chairman, Lewu Chen, says that the investment in Dragonfly Energy, which is their first U.S. investment, gives them access to technology that is expected to lower their manufacturing costs.
The founders of Dragonfly Energy — Phares, Sean Nichols, David Gong, Evan Humphreys and Justin Ferranto — will retain their ownership of the company after the Dynavolt investment.