Global Electrification for All Vehicles No Longer a Thing of the Future

The global electrification of automobiles, trucks, buses, marine vessels, and in fact all vehicles, is no longer seen as a futuristic idea.

We are currently in the midst of one of the biggest global industrial and technological revolutions in history. Global mandates and regulation have solidified and further enabled carbon neutral goals. Electric vehicle (“EV”) sales have skyrocketed, charging infrastructure initiatives have been ramped up (and will accelerate greatly in coming years), and industry leaders have doubled down on their respective focus on improved battery technology. What was once thought of as a debatable endeavor has now caused mass acceptance and excitement in the marketplace.

The auto industry began its ascent towards electrification quite some time before the marine industry. Some of the auto industry’s biggest and most prestigious names have already planned to go completely electric within the next 5 or 10 years. JLR (Jaguar Land Rover) plans to sell only electric cars by 2025; Volvo plans to achieve that same goal by 2030; General Motors plans to go fully electric by 2035. Well-respected high-performance auto manufacturers Lotus and McLaren will no longer sell ICE powered sports cars by 2028. Volkswagen, 2021’s leading seller of EVs in Europe (with approximately 25% of the market), aims to have EVs account for at least half of its global production by 2030. Even luxury brands such as Lamborghini, Bentley, Porsche, and Ferrari, now have an expanding footprint in the electric sector. And of course, there’s Tesla. Additionally, major ground shipment logistics companies such as UPS, Amazon, and FedEx, have supported a more cost effective and conscientious green future.

In 2021, electric automobiles, including hybrid electric vehicles and plug-in-hybrid vehicles, made up 9.7% of US auto sales. This is nearly double 2020’s 5.4% number. Auto sales in general rose only 3.4% from 2020 to 2021. However, total sales growth for electric vehicles skyrocketed 85.9% year over year. In the first quarter of 2022, EV sales have soared, even with the overall industry reporting a

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15.3% decline in new vehicle sales. In 2021, the global electric boat and ship market reached a benchmark value of nearly $5 billion and is expected by many in the boating industry to reach well over $10 billion by 2027.

The exponential growth of the electric boat market can partly be attributed to the burgeoning global government mandates and restrictions surrounding gas and diesel engines (internal combustion engine, or ‘ICE’). In addition to the global “zero emission” initiative, astronomically high fuel costs have also played a large role.

It is well known that Europe and North America have held the largest global market share in the electric boat market for quite some time, but smaller markets have also witnessed carbon neutral goals being fast tracked.

The Port of Auckland in New Zealand has announced its goal of becoming a zero emissions harbor by 2040. Kenya’s fishing village Mbita, located in Lake Victoria (which is home to around 25,000 diesel powered boats) has recently been equipped with its first line of electric powered fishing boats by Dutch startup Asobo. Scandinavian countries have seen several startup electric boat manufacturers, including Candela, which has an electric ferry slated to commence operation next year in Sweden. In addition, Finland is the home to Nextfour Solutions, a company that Vision Marine has recently partnered with that has designed a unique and highly advanced navigation and entertainment system called the Q Display.

As many boaters and marine industry OEMs move increasingly towards acceptance of electric transition of worldwide waterways, consumers are eagerly awaiting the mass production of high performance electric outboard and powertrain systems, much like consumer anticipation during the early stages of electric automobiles.

This is the perfect inflection point for Vision Marine Technologies, inc. (VMar-naSDaQ) to assert market dominance via it’s highly proprietary, 180E powertrain, which is the first fully electric high performance purpose built outboard powertrain system The E-Motion™ showcases immense power and torque, while also producing zero pollution, zero emission, a noiseless environment, requires very minimal maintenance, and more than a 90% reduction in in operating cost versus currently very expensive gasoline pump prices. It is the most technologically advanced electric outboard motor on the market, and to Vision Marine’s knowledge, there is no other electric outboard motor even close to market which rivals it. Vision Marine’s recent Manufacture and Supply Agreement (‘MSA’) with McLaren

Engineering, a division of Linamar Corporation, will enable first mover advantage for the E-Motion™ to scale mass production, therefore readily available to serve major OEMs.

Vision Marine’s CEO Alexandre Mongeon and co-founder, and his team have been developing an innovative cutting edge fully electric powertrain technology for the marine industry for years. Years ahead of the competition, Vision Marine has been at the forefront of the boating industry’s recent shift to electrification as the only company with a deep footprint into the high-performance electric powerboat market. Vision Marine’s focus has specifically been on the high-end outboard market, which will exhibit the fastest growth segment within the general outboard sales market. The E-Motion™180E is the world’s first electric propulsion engine providing what we believe to be the only ready for mass production high performance electric outboard that offers the exceptional speed and torque otherwise not available within the boating industry.

The E-Motion™ is the first fully electric purpose-built outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design, utilizing extensive control software. Our E-Motion™ and related technologies used in this powertrain system are uniquely designed to maximize efficiency, and as a result, enhance both range and performance. Virtually any powerboat can become fully electric by incorporating our disruptive powertrain technology.

Vision Marine also designs, innovates, manufactures, and sells handcrafted, high performance, environmentally friendly, electric recreational power boats to customers. These boats can be found globally, branded, and ready for use at many other rental operations operated by both startups and large OEMs, for example, Freedom Boat Club, Carefree Boat Club, Aquatic on Lake Windermere, in England, Electric Boat Rentals of Bermuda, On A Boat in Melbourne, Australia, Yachtsy in Washington D.C., and Maine Electric Boats, to name just a few. Vision Marine’s boats can also be rented at prestigious hotels, such as Montage Palmetto Bluff in South Carolina, Grupo Vidanta in Mexico, Grand Palladium Hotel in Isla Mujeres, among others. For some of these businesses, Vision Marine’s boats are the cornerstone of their respective rental operations.

www.visionmarinetechnologies.com

The company paid consideration to SNN or its affiliates for this article.