The $15B electric boat market: Why now is the time to invest

Image credit: theguardian

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LONDON, 5 August 2023: The electric vehicle (EV) landscape has presented both incredible rewards and considerable risks for investors. While established manufacturers like Tesla and prominent Chinese players thrive, the rest of the EV market faces profitability challenges. Amidst a brutal price war and growing pains, an intriguing electric boat market of USD 15bn niche has arisen, largely overlooked by Wall Street.

EV Industry Challenges and Opportunities

The year 2022 witnessed an 8% dip in overall car sales but a remarkable 65% surge in EV sales, as reported by Kelley Blue Book. Despite the evident shift toward electric vehicles, factors like cash burn, aggressive competition, and missed deadlines have made the sector treacherous for investors.

A Unique Path to Success: Electric Waterways

While the traditional on-road EV market remains saturated, a new frontier for EVs is emerging on waterways. Unlike roadways, the EV revolution on water benefits from lessons learned, focusing on smart strategies rather than cash burn.

Flourishing Electric Boat Market

The recreational boat industry, currently valued at nearly USD 19bn, is projected to grow to almost USD 26bn by 2028. This surge is largely driven by a shift toward electric propulsion, embracing emissions-free transportation and favorable government policies.

Vision Marine Technologies (VMAR) Leading the Way

Vision Marine Technologies (VMAR) takes the lead with its proprietary E-Motion powertrain outboard motor. Capable of transforming conventional speedboats into the fastest electric versions in their class, VMAR avoids cash burn by partnering with battery manufacturers and engineers. This approach allows VMAR to integrate its award-winning electric motor into boats, reducing noise, pollution, and maintenance costs associated with gasoline-powered counterparts.

A Game-Changing Electric Boat Motor

Partnering with boat maker Four Winns, VMAR unveiled the H2e Bowrider speedboat, featuring the E-Motion 180 HP electric outboard motor. This motor powers the first all-electric series production bowrider on the market, offering consistent 180 HP of pure electric power, high voltage when required, and a scalable power bank. VMAR’s turn-key solution includes batteries, engines, and software.

Expanding Opportunities and Revenue Streams

Vision Marine Technologies is not only equipping electric propulsion and solar panels for long-distance journeys but also tapping into the USD 18bn global boat rental market, projected to reach USD 31.2bn by 2031. VMAR’s innovative marine-grade battery packs position it favorably within the growing marine battery market.

A Bright Outlook

As EV battery maker stocks surge, the marine battery market is poised for similar growth. Vision Marine Technologies’ certified battery cells and partnerships reflect its decade-long commitment to developing proprietary technology, aligning perfectly with the market’s upward trajectory.

Conclusion

As the EV industry evolves, a USD 15bn opportunity emerges in electric boating. Vision Marine Technologies’ innovative approach, smart partnerships, and commitment to eco-friendly boating position it for success in this flourishing market. As electric vehicles make their way onto waterways, VMAR is at the forefront, driving sustainable change and profitability in the electrified marine industry.

Electric pushers boat

Image credit: theguardian

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