A rising tide lifts electric boat stocks; Stocks mentioned in this article (Nasdaq: $VMAR) (NASDAQ: $MAMO) (NASDAQ:
$MVST) (NYSE: $GD) (ASX: $ASB.AX)
@marine_vision
December 3, 2024 - Investorideas.com, a go-to investing platform covering electric
vehicle stocks issues a snapshot on the future of the electric boating market and
some of the partnerships moving the sector forward, featuring Vision Marine Technologies Inc. (Nasdaq:VMAR), a pioneer in electric marine
propulsion.
Stocks mentioned in this article Massimo Group (NASDAQ: MAMO),
Microvast Holdings, Inc. (NASDAQ: MVST), General Dynamics (NYSE: GD),
Austal Limited (ASX: ASB).
Future Market Insights recent study says, “The global electric boats market is on a
rapid growth trajectory, expected to expand at a Compound Annual Growth Rate
(CAGR) of 10.4% from 2023 to 2033. The market value is projected to rise from
USD 5.6 billion in 2023 to an impressive USD 15.1 billion by 2033.”
“2034 is projected to pose a demand for electric boats
that will be 2.7 times higher than the present value.”
Looking at some of the recent news in the sector,
partnerships and collaborations are a key factor for potential growth moving
forward.
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). 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.
Paid for news dissemination for
Vision Marine Technologies Inc. (Nasdaq:VMAR).
Read this article, featuring VMAR in
full at https://www.investorideas.com/news/2024/renewable-energy/12031Electric-Boat-Stocks.asp
Massimo Marine was established in Garland, Texas, in 2018
and manufacture and sell Ultra Luxury Pontoon and tritoon boats. Massimo Group
(NASDAQ: MAMO)
is a manufacturer and distributor of powersports vehicles and pontoon boats.
The US 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.
“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."
By offering a turn-key product through Vision Marine's
direct-to-consumer approach and Massimo Marine's extensive distribution
network, the Company and Massimo Marine believe that this partnership will
greatly enhance its accessibility to electric boating solutions. This
collaboration is more than a production partnership - the Company and Massimo
Marine believe that it's a leap toward transforming the marine industry. By
addressing the growing demand for zero-emission solutions and offering
eligibility for grants and incentives at city, state, and federal levels, this
electric pontoon platform can position itself as a cornerstone in sustainable
marine transportation.
Vision Marine Technologies Inc. is 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 combines cutting-edge
technology, high-performance propulsion, and eco-friendly systems. The company
has broken multiple electric world speed records, showcasing its commitment to
pushing the boundaries of performance. Vision Marine is leading the
transformation of the marine industry with unmatched power and efficiency for a
cleaner future on the water.
In mid -November Vision Marine
Technologies Inc. (Nasdaq:VMAR),
also announced a
new production initiative with Smoker Craft Inc., a US-based pontoon
manufacturer known for its precision engineering and advanced manufacturing capabilities.
This collaboration is expected to produce a state-of-the-art pontoon platform
specifically designed to integrate Vision Marine's high-performance (180 HP)
electric propulsion systems, specifically the pontoon-designed P-Powerpack. We
believe the powerpack will merge cutting-edge technology and exceptional
craftsmanship into a transformative product for the marine industry.
Looking at the battery side of electric boating, earlier
this year Microvast Holdings, Inc. (NASDAQ: MVST), a technology innovator that
designs, develops, and manufactures lithium-ion battery solutions, announced a
strategic partnership with Evoy, a Norwegian company specializing in
high-output electric motor systems for boats. The collaboration with Evoy is
Microvast’s debut in the electric boat segment and marks an expansion of Evoy’s
battery options for diverse market applications.
From
the news: Evoy will be integrating Microvast
MV-I high-power battery packs into their leisure boat product line. The MV-I
battery pack offers a range of environmental and technical benefits, such as
fast responsive torque for quick acceleration. Other key benefits include:
Enhanced
Safety and Reliability-The
self-contained, integrated cooling plate of the MV-I battery pack offers
enhanced safety and reliability in boat applications. In addition to quiet, low
maintenance operation, Evoy’s integration of MV-I battery packs will help
foster a safer environment for natural resources and marine life.
Microvast-powered Evoy motors will provide an exhaust and fuel free power
solution that reduces noise, air, and water pollution.
Innovative
Lightweight Design-The
MV-I battery pack combines a lightweight design with innovative lithium-Ion
technology, increasing energy density by up to 180 Wh/kg. This groundbreaking
design maintains the robustness required for boat applications, supporting
Evoy's commitment to high-performance electric boating.
The
electric boat future also expands into the defense sector with General Dynamics
(NYSE: GD)
Electric Boat Division’s partnership with Austal Limited.
In
September Austal Limited (ASX: ASB) announced that
Austal USA was awarded a US$450 million (approx. A$670 million) contract by
General Dynamics Electric Boat. The contract will enable Austal USA to expand
production capacity at its US shipyard in support of the U.S. Navy Submarine
Industrial Base (SIB).
From the news: This contract
award will fund Austal USA to enhance its existing infrastructure by designing,
constructing and outfitting a new module fabrication and outfitting facility at
its Mobile shipyard to support the U.S. Navy goal of delivering one
Columbia-class and two Virginia-class submarines annually. Construction of the
new building will start this US autumn and be complete in 2026.
When
fully operational, the building will support approximately 1,000 jobs and
provide capability to fabricate, outfit, and transport submarine components.
Continued:
Austal
Limited Chief Executive Officer Paddy Gregg noted this contract award is a
testament to the growing partnership with General Dynamic Electric Boat and
demonstrates its confidence in Austal USA as a valuable industry partner for
these two important U.S. Navy submarine programs.
“General
Dynamics Electric Boat has recognized that Austal USA is a solid partner to
deliver high-quality components for Virginia- and Columbia-class submarines.
This growing partnership demonstrates confidence in Austal USA’s commitment to
meet the needs of the U.S. maritime industrial base and support the most
critical needs of the U.S. Navy,” Mr. Gregg said.
Austal
is Australia’s global shipbuilder and defence prime contractor designing,
constructing and sustaining some of the world’s most advanced commercial and
defence vessels.
Looking at the future of the electric boats and ships market, Future Market Insights notes, “Key
players in the industry include FRAUSCHER BOOTSWERFT GmbH & Co KG, Duffy
Electric Boat Company, RAND Boats ApS, Echandia, Lillebror Marine, and Vision
Marine Technologies (Nasdaq:VMAR).”
They also report, “Key players in the electric boats
system are actively enhancing their capabilities and resources to cater to the
growing demand across diverse applications. Leading companies are leveraging
partnerships and joint venture strategies to co-develop innovative products and
bolster their resource base.”
With that, Vision Marine Technologies’ (Nasdaq:VMAR)
partnership news appears to be sailing the Company in the right direction for
the sector.
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