Forest River Could Soon Sell Electric RVs
As concerns mount regarding the state of the environment and the impact of pollutants, many people, including celebrities, politicians, and leading financial experts, are exploring how to reduce carbon emissions. This research has led to the creation and development of technology that’s now found in electric vehicles. Though EVs still have a long way to go before replacing gas-powered vehicles, we’re seeing more of them.
Now, camper and motorhome manufacturer Forest River could soon sell electric RVs.
What is Forest River?
Peter Liegl founded Forest River in 1996. At the time, he had a single goal. He wanted to give people who loved the outdoors a way to enjoy their vacations. To do this, he created an RV company. It started small by producing small numbers of pop-up campers. But it has grown.
Forest River says it has striven to build a brand that manufactures high-quality RVs to meet modern travelers’ needs. It also endeavors to excel in customer service. The company employs about 10,000 people and generates more than $5 billion in annual revenue.
And it expanded beyond making RVs to helping people enjoy them. In 2011, it created the Forest River Owners Group. Its mission is to help members connect and share camping experiences.
Are electric RVs in Forest River’s future?
If you follow the stock market, you might’ve noticed Forest River’s stock prices jumped 8 percent a few weeks ago. The likely reason was the announcement that GreenPower Motor Company had partnered with the RV maker. According to GreenPower, it struck a deal with Forest River to allow the EV company to use the motorhome manufacturer’s Cutaway minibusses and Type B and C RVs to create a new line of electric RVs.
“Forest River is a forward-thinking company that is looking to solidify their market position long into the future by adding a purpose-built, zero-emission offering to many of their product lines.” GreenPower’s president stated in a press release published to PR Newswire. “The EV Star Cab and Chassis meets the demands of many of their addressable markets and allows Forest River to focus on what they are experts at building bodies.”
It appears the company hopes to have the all-electric RVs ready for consumers in the third quarter of 2021.
Warren Buffett’s connection to the RV maker
Business magnate Warren Buffett told CNBC he believes EVs will play a big role in the future. But people might not know that the partnership to create electric RVs has strong ties to Buffett. Considering he’s the CEO of Berkshire Hathaway, which owns Forest River, the partnership with GreenPower makes sense.
This is just the latest bit of good news GreenPower investors have seen in recent months. In fact, the company enjoyed 138 percent growth in only three months, The Motley Fool reported.