Vision Marine Technologies Inc Stock Price, News & Analysis

Vision Marine Technologies (NASDAQ: VMAR) has announced key partnerships to enhance its E-Motion™ 180E fully electric powertrain system. Collaborations with Linamar Corp and McLaren Engineering will facilitate scaling manufacturing processes, while an agreement with Octillion Power Systems provides exclusive access to high-density batteries tailored for boating. Additionally, Nextfour Solutions will assist in developing an advanced marine navigation console. The company's electric boat rental operations have seen a 62% increase in customers year-over-year, reaching over 13,000 in 2021.

Vision Marine Technologies has partnered with Nextfour Solutions to develop the Q Display, a multifunctional marine display for their E-Motion™ 180 electric powertrain. This innovative system integrates navigation, connectivity, and entertainment into a single user-friendly interface, enhancing the boating experience. With estimated sales of 70,000 pontoons in the U.S. in 2022 and the only EV system certified by both U.S. and Canadian Coast Guards, Vision Marine aims to disrupt traditional boating methods while promoting environmental sustainability.

Vision Marine Technologies (NASDAQ: VMAR) has partnered with Octillion Power Systems to produce a customized 35 KW high-density battery for the recreational boating market. This agreement allows Vision Marine to scale production, addressing a two-year backlog in performance batteries. The new battery system is compact and designed to fit various boats. With a projected 70,000 pontoons sold in the U.S. in 2022, this partnership enhances Vision Marine's capacity to supply fully electric motors and secure its supply chain, which meets stringent safety standards.

Vision Marine Technologies (NASDAQ: VMAR) announced a share repurchase program, allowing for the buyback of up to 10% of its common shares. This decision reflects the company's belief that its shares offer unique value, especially amid the transition towards zero-carbon emission watercraft. Vision Marine emphasizes its role in the electric boating industry's evolution, as highlighted by General Motors' investment in electric boat startups. The buyback will be funded with working capital and is subject to market conditions and management's discretion.

Vision Marine Technologies (NASDAQ: VMAR) has appointed Xavier Montagne as Chief Operating Officer. Montagne, previously Chief Technology Officer, played a key role in developing the E-Motion 180e electric propulsion system. His collaboration with McLaren Engineering has enhanced Vision Marine's production capabilities for global OEMs. Patrick Bobby will lead a new Performance & Special Projects division. Vision Marine aims to disrupt the boating industry with its electric powertrain technology, promoting zero emissions and improved performance, as highlighted in their ongoing innovations.

Vision Marine Technologies, Inc. (NASDAQ: VMAR) will present at the Sidoti Fall Virtual Investor Conference from Dec. 8-9, 2021. The focus will be on the electric boating industry's future and the company's innovative E-Motion™ outboard powertrain technology, aimed at transforming the market with zero emissions. The presentation is scheduled for 1 p.m. EST on Dec. 9, featuring CFO Kulwant Sandher and Investor Relations Bruce Nurse. Registration is free at www.sidoti.com/events, and a live streaming link is available for attendees.

Vision Marine Technologies (NASDAQ: VMAR) announced participation in the Sidoti Fall Virtual Investor Conference on December 8-9, 2021. Kulwant Sandher, CFO, and Bruce Nurse, Investor Relations, will present and engage in one-on-one meetings with investors. The live presentation is scheduled for December 9 at 1 PM EST, accessible via a provided link. The company focuses on innovative electric power solutions for the boating industry, aiming to reduce waterway pollution with its flagship E-Motion™ outboard powertrain technology.

Vision Marine Technologies (NASDAQ: VMAR) has entered into a Manufacture and Supply Agreement with Linamar Corporation to upscale its E-Motion™ technology manufacturing. This partnership, leveraging Linamar's McLaren Engineering for mass production, aims to meet increasing demand from major OEMs for fully electric outboard motors. Vision Marine recently achieved a speed record and garnered interest at industry events, indicating strong market potential. The electric boat market is projected to grow from $4.6 billion in 2021 to over $9 billion by 2026.

Vision Marine Technologies (Nasdaq: VMAR) announced it will showcase its E-Motion™ 180hp fully electric powertrain on a Starcraft EX 22-foot pontoon boat at IBEX 2021 from September 28 to September 30 in Tampa, Florida. Pontoon boats comprise about 20% of the recreational boating market, with annual sales growing by 3% to 4%. Sea trials record a top speed of 36 mph, over 50% faster than average pontoon speeds. Vision Marine aims to lead in zero-emission boating, with its technology expected to enhance boating performance and environmental responsibility.