Electric Boating Stock Vision Marine Technologies
Inc. (Nasdaq: $VMAR) @marine_vision Gains on Partnership News with Massimo Group (NASDAQ: $MAMO) @MASSIMOMOTOR
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EV stocks reports on trading and news for
Vision Marine
Technologies Inc. (Nasdaq:VMAR),
a pioneer in electric marine propulsion.
The stock traded up in pre- market following news Sunday
of a partnership deal for its first commercial electric pontoon platform.
Vision Marine Technologies Inc just announced yesterday 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.
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.
Paid for news dissemination for
Vision Marine Technologies Inc. (Nasdaq:VMAR).
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news, featuring VMAR in full at https://www.investorideas.com/news/2024/renewable-energy/12021Vision-Marine-Technologies-VMAR.asp
(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."
E-Motion™ electric powertrain-equipped pontoon in Miami
pulling a wakeboarder out of the water.
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. (NASDAQ:VMAR) 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.
Massimo Marine, a subsidiary of Massimo Group (MAMO), was
established in Garland, Texas, in 2018. Massimo Marine manufactures and sells
Ultra Luxury Pontoon and tritoon boats. Massimo Marine is dedicated to
innovative design, quality craftsmanship, and great customer services. We are
changing the game in the pontoon, tritoon, and fishing boat world by raising
the bar when it comes to innovation and features, all of which have helped make
Massimo Marine a proven leader in the industry. Every year, we introduce new
features, designs, and standard options for our boats that set us apart; while
always ensuring we offer our customers pricing advantages that will allow them
to have the best boating experience possible.
This press release contains forward-looking statements
within the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such statements include predictions, expectations, estimates, and
other information that might be considered future events or trends, not
relating to historical matters. These statements involve known and unknown
risks, uncertainties, and other factors that may cause actual results,
performance, or achievements to differ materially from those expressed or
implied by such statements. Vision Marine's Annual Report on Form 20-F for the
year ended August 31, 2023, and its periodic filings with the SEC provide a
detailed discussion of these risks and uncertainties. Vision Marine does not
undertake any obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise, as
required by law.
Recent
news:
https://finance.yahoo.com/news/vision-marine-technologies-massimo-marine-103000509.html
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