Tacos, Margaritas And Worry-Free Days In The Great Outdoors — This Company Claims Its Lithium Batteries Could Make All This And More Possible On Your Next Road Trip

Photo by Tobias Tullius on Unsplash

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Since the onset of the coronavirus pandemic, there has been a reported upsurge in the popularity of recreational vehicles (RVs). 

The ability to travel away from crowds and camp outdoors is a welcome reprieve for anyone after months spent in confinement during the pandemic. 

According to an RV Industry Association survey, 20% of U.S. respondents reported becoming more interested in RV-ing as a result of COVID-19.

An interesting development of the pandemic for the RV market was that, with borders closed and travel options limited, millennials and Gen Zers started showing interest in road travel, resulting in a spike in RV purchases and rentals by this demographic.

Many U.S. businesses — including those in the RV industry — did surprisingly well despite shortages and inflation. 

Winnebago Industries Inc. WGO reported record fiscal 2020 revenue was up over 50% from the previous year and Thor Industries Inc. THO, among the largest producers of RVs, had record results for the first quarter of 2021, with a 100% increase in its backlog of orders compared to the previous year.

The RV industry wasn’t the only outdoor-oriented business to boom during the pandemic. Despite labor shortages and other barriers, sales of boats and all-terrain vehicles surged after initial lockdowns.

With a significant percentage of the millennial population opting to work from anywhere post-pandemic, the unconventional van life seems to be here to stay for this demographic. 

These trends could create unique incremental opportunities for companies like Expion360 Inc. XPON, which manufactures lithium batteries for RVs,  boats and other outdoor products. 

Headquartered in Oregon, Expion360 designs, assembles, manufactures and sells its batteries and supporting accessories under the VPR 4EVER name. 

Lithium batteries are relatively maintenance-free, fast charging and lightweight. According to the company, its batteries maintain their charge for much longer, providing dependable power delivery

Extra reserve power in batteries for the management of accessory loads is in demand. Expion360 claims its superior and rugged design and the technology adopted in its lithium batteries result in extended lifespan and reserve power for its batteries, making it the preferred choice for RVs.

Expion360 says its unique product distribution strategy gives it an edge over its competitors — it builds on its relationships with dealers by approaching them directly, training the dealers on Expion360 batteries so that customer questions can more easily be answered at the dealership level. 

Expion’s customer base includes both ends of the spectrum, from camper van conversions to the luxury RV space. Dealers benefit by gaining introductions to Expion’s customer network for potential installations.

Companies like Camping World Holdings Inc. CWH which specialize in selling RVs, RV parts and supplies for camping are reportedly witnessing an unprecedented increase in demand for travel trailers. 

Expion believes these trends will cause a further expansion of the battery market and boost the lithium battery segment significantly. 

The battery market is estimated to progress at a compound annual growth rate (CAGR) of 7% from 2020 to 2030, and Expion believes it is in the right place at the right time to capitalize on the market uptick.

In the near future, Exion reports that it plans to white label its products. It will start by cobranding with another company and grow the vertical in the future.

To learn more about Expion’s journey, visit https://expion360.com/

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.