Squirrel Power Secures $43.5M for Smart RVs

Squirrel Power, a Chinese innovator in smart recreational vehicles, has successfully closed a Series A funding round totaling over 200 million yuan (approximately $43.5 million USD). The significant capital infusion was led by prominent investors including Oriza Hua, Oriza Rivertown, GSR United Capital, and ThunderSoft. This funding is earmarked for crucial vehicle homologation for their range-extender technology and scaling up production capabilities, paving the way for mass production and deliveries anticipated in 2027.

Founded in 2023, Squirrel Power operates under the RV brand Evotrex. The company is focused on electrifying and smartening outdoor mobility solutions, leveraging its proprietary integrated power generation and storage technology. Their debut product, the Evotrex-PG5, a range-extender equipped camper, was unveiled at CES 2026 in Las Vegas. Priced from $120,000 USD, the premium model, retailing at $159,990 USD, has reportedly captured nearly 90% of early reservations, indicating strong demand from its target demographic: North American outdoor enthusiasts aged 30-45.

Addressing a key pain point in the RV sector – extended power availability for amenities like air conditioning and appliances – Squirrel Power’s approach diverges from conventional solutions. Instead of solely increasing battery capacity, the company integrates a range-extender engine. This system, combining a 43 kWh battery with a 75-liter fuel tank, offers an equivalent energy capacity of approximately 270 kWh. This substantial power reserve is designed to support a family of four for over a week without external power sources, a significant leap in off-grid camping capabilities.

The Evotrex-PG5 also introduces innovative features for towing scenarios. Its onboard motors can assist in self-propulsion when towed by an electric pickup truck, mitigating range reduction for the tow vehicle. Furthermore, power can be transmitted from the RV's generator back to the truck while in motion. Beyond recreational use, the vehicle's robust power capacity positions it for applications such as emergency home power backup and mobile commercial operations, highlighting its versatility as a mobile energy platform.

Smart functionalities are deeply embedded within the Evotrex-PG5, including Over-The-Air (OTA) software updates and compatibility with SpaceX's Starlink satellite internet service. The vehicle boasts electronically controlled features like power sunshades and tailgates, alongside modular seating, a 72-inch onboard theater, and a rear terrace. Future plans include a customizable interior and feature configuration system, allowing users to tailor their RV to specific needs. Squirrel Power views the PG5 as a mobile energy platform integrating power generation, storage, and intelligent management.

The company is currently navigating rigorous testing for durability, safety, and international certifications to prepare for the 2027 production launch. Following the initial high-end market validation, Squirrel Power intends to introduce more accessible models with simplified features. A comprehensive sales, delivery, and after-sales service network is being established in the United States. Founder Xiao Ang emphasizes that the immediate priority is establishing a quality-assured mass production system over simply securing orders.