Key figure is Chinese entrepreneur who controls both sides of the transaction By Peter A. Buxbaum, AJOTThe announcement from the White House during last month’s visit of China’s President Hu Jintao was quite impressive. MVP RV, a privately-held motor home manufacturer based in Riverside, Cal., was to receive a $310 million capital infusion from a Chinese company toward the end of producing some 30,000 motor homes and exporting them to China within the next four years. A memorandum of understanding between MVP RV and its Chinese counterpart, identified in the White House press release as Winston Battery Limited of Shenzhen, China (but which in fact is Winston Global Energy Co. of Hong Kong), also called for the eventual incorporation of an all-electric power train in MVP RV motor homes at some point in the future. The value of the RV exports to China was estimated at an electrifying $5 billion. Information released by the company also specified a dramatic increase in employment at MVP RV: the company is to increase its payroll from 150 employees to 1,350; most of the new hires would be for production line jobs. By a closer examination of the deal reveals that it is not between MVP RV and Winston Battery but between Winston Chung and Winston Chung. Who is Winston Chung? Winston Chung, born in Guangdong Province, China in 1958, is the inventor of the lithium iron phosphate battery, as well as a number of other inventions. He also has extensive business holdings. Chung is the founder, chairman, and CEO of Thunder Sky Enterprises, a company publicly traded on the Hong Kong Stock Exchange, Winston Global Energy Co., Ltd., and Winston Battery Limited, all of which manufacture and market energy storage solutions and lithium batteries for electric bicycles, motorcycles, automobiles and hybrid vehicles. Winston Global Energy claims it is currently the only company in the world engaged in mass production of rechargeable storage batteries for buses. Chung also serves as director and chief scientist of the People’s Republic of China’s Lithium Battery Research and Development Center and is the largest shareholder of companies listed on the Hong Kong Stock Exchange. MVP RV, meanwhile, was formed in 2008 to produce travel trailers. But the recession caused the company to stop production only four months later. The company was exploring the idea of building electric cars when the owners were introduced to Chung. Chung paid $18.6 million in July 2010 for the Riverside factories and headquarters which now house MVP RV and which were once the home of Fleetwood Enterprises Inc., a recreational vehicle manufacturer, which filed for bankruptcy protection and went out of business in 2009. Also in 2010, Chung became the majority stockholder and chairman of the board of directors of MVP RV. Chung later announced plans to invest $310 million in MVP RV to promote motor home exports to China. In a related development, in December 2010, Chung invested $5 million in Balqon Corporation of Los Angeles, a manufacturer of electric-powered vehicles, and became its chairman of the board. Soon thereafter, Winston Global Energy placed a $16 million order for 300 electric drive systems with Balqon. The company announced that the order would create 150 jobs in Southern California in the next 18 months. In short, the MVP RV- Winston Global Energy deal represents an arrangement between two companies controlled by Winston Chung. “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. “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.” MVP RV’s manufacturing facility includes 500,000 square feet of manufacturing space on 23 acres. The facility