Vision Marine Technologies Inc. (Nasdaq: $VMAR) – Revolutionizing the Electric Marine Market; @marine_vision
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EVMagazine says “Electric boats are transforming the marine industry with their blend of innovation and sustainability. Powered by battery-driven electric propulsion systems, these vessels offer a cleaner, quieter alternative to traditional fuel-powered boats, aligning perfectly with the global move toward greener technologies.”
A company making waves and a pioneer in the sector is Vision Marine Technologies Inc. (Nasdaq:VMAR), a pioneer in electric boating, recognized for its innovative E-Motion™ Electric Marine Powertrain Technology that offers a superior, zero-emission boating experience. With proprietary, turn-key electric solutions.
Vision Marine Technologies Inc. (Nasdaq:VMAR), just announced it entered into a milestone partnership with Massimo Marine, the marine division of Massimo Group (NASDAQ: MAMO). From the news: This collaboration will produce a fully integrated 30-foot electric pontoon platform designed for commercial and recreational markets. As part of Vision Marine's strategic shift to offer complete electric boats directly to consumers, this partnership represents a key step in rapidly delivering high-quality electric marine products to market.
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The U.S. pontoon boat market is a growing one. In 2023, pontoon boat sales reached 115,000 units, a 5% increase over 2022 (https://pontoonboatguy.com/). This robust market growth reflects the demand for versatile and family-friendly watercraft. Vision Marine brings extensive expertise to this partnership, with years of experience successfully integrating electric propulsion systems into various boat designs. This unique knowledge ensures that the new electric pontoon platform will meet the highest standards of performance, efficiency, and reliability for both recreational and commercial use.
(NASDAQ: VMAR) Massimo Marine
"This product is the result of years of requests from nautical bases and operators who have been asking for a reliable, turn-key electric solution," said Alexandre Mongeon, CEO of Vision Marine. "With this partnership, we aim to bridge the gap efficiently, delivering what the industry has long demanded. By combining our world-record-breaking, third party-tested technology with Massimo Marine's manufacturing capabilities, we're creating a solution that is as dependable as it is innovative."
Massimo Marine's advanced production facilities in Garland, Texas, are expected to play a pivotal role in delivering these electric pontoons to market efficiently and at scale. "We're proud to be partnering with Vision Marine's innovative propulsion solution in brining truly efficient electric propulsion systems to the commercial and recreational space," said David Shan, CEO of Massimo Group. "This collaboration showcases our shared commitment to innovation and sustainability, providing customers with high-performance electric pontoons through Vision Marine's factory-direct distribution along with our networks." Full news
Vision Marine Technologies Inc. (Nasdaq:VMAR), in its recent Investor Presentation says that The Pontoon Platform is the “Low-Hanging Fruit of the Electric Boat Market”
Continued: “Over 60,000 Pontoons are sold In America and each year every 1,000engines generates $ 96M in revenue.”
They also note,” With our cutting-edge technology and robust marketing strategy, we are well-positioned to achieve substantial market penetration. This positions us for considerable growth as we consolidate a major share in the burgeoning electric boat market.”
Maximize Market Research ( MMR) says the Marine Electric Vehicle Market size was valued at USD 9.94 Billion in 2023 and the total Marine Electric Vehicle Market revenue is expected to grow at a CAGR of 11.26% from 2024 to 2030, reaching nearly USD 20.98 Billion by 2030.
The market has been growing steadily over the past few years as the industry shifts towards more sustainable and environmentally-friendly transportation options. Electric boats, ships, and other marine vehicles are powered by electricity, either from batteries or fuel cells, and offer numerous benefits over traditional fossil fuel-powered vessels. The marine electric vehicle market is driven by several factors, including government initiatives and regulations aimed at reducing carbon emissions and increasing the adoption of electric vehicles.
Additionally, advancements in battery technology and the increasing availability of charging infrastructure have made electric marine vehicles a more viable option for commercial and recreational use.
Continued: Some of the key players in the marine electric vehicle market include Tesla, Inc. (NASDAQ: TSLA), ABB Ltd., General Electric (CBOE: GE), Rolls-Royce Holdings PLC, Torpedo GmbH, and Duffy Electric Boat Company. These companies are investing in research and development to improve the performance and range of electric marine vehicles, as well as developing new products to meet the growing demand for sustainable transportation options.
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