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Vision Marine Technologies (Nasdaq: VMAR) has partnered with Massimo Marine to produce a 30-foot electric pontoon platform for commercial and recreational markets. The collaboration leverages Vision Marine’s electric propulsion expertise and Massimo’s manufacturing capabilities in Garland, Texas. The partnership aims to address the growing pontoon boat market, which saw 115,000 units sold in 2023, up 5% from 2022. The initiative aligns with Vision Marine’s strategy to offer complete electric boats directly to consumers, while also utilizing Massimo Marine’s distribution network. The electric pontoon platform will be eligible for various government incentives and targets the sustainable marine transportation sector.
Vision Marine Technologies (Nasdaq: VMAR) ha stretto una partnership con Massimo Marine per produrre una piattaforma elettrica di pontoon di 30 piedi per i mercati commerciali e ricreativi. La collaborazione sfrutta l’expertise di Vision Marine nella propulsione elettrica e le capacità produttive di Massimo a Garland, Texas. L’obiettivo della partnership è quello di affrontare il crescente mercato delle barche pontoon, che ha visto 115.000 unità vendute nel 2023, con un aumento del 5% rispetto al 2022. L’iniziativa si allinea con la strategia di Vision Marine di offrire barche completamente elettriche direttamente ai consumatori, utilizzando anche la rete di distribuzione di Massimo Marine. La piattaforma elettrica di pontoon sarà idonea per vari incentivi governativi e si rivolge al settore dei trasporti marini sostenibili.
Vision Marine Technologies (Nasdaq: VMAR) se ha asociado con Massimo Marine para producir una plataforma de pontón eléctrico de 30 pies para los mercados comerciales y recreativos. La colaboración aprovecha la experiencia de Vision Marine en propulsión eléctrica y las capacidades de manufactura de Massimo en Garland, Texas. La asociación tiene como objetivo abordar el creciente mercado de barcos de pontón, que vio 115,000 unidades vendidas en 2023, un aumento del 5% en comparación con 2022. La iniciativa se alinea con la estrategia de Vision Marine de ofrecer embarcaciones completamente eléctricas directamente a los consumidores, al tiempo que utiliza la red de distribución de Massimo Marine. La plataforma de pontón eléctrico será elegible para varios incentivos gubernamentales y está destinada al sector del transporte marino sostenible.
비전 마린 테크놀로지스 (Nasdaq: VMAR)는 마시모 마린과 협력하여 상업 및 레크리에이션 시장을 위한 30피트 전기 폰툰 플랫폼을 생산합니다. 이 협력은 비전 마린의 전기 추진 전문성과 텍사스 가랜드에 있는 마시모의 제조 능력을 활용합니다. 파트너십의 목표는 2023년에 115,000대가 판매되어 2022년 대비 5% 증가한 폰툰 보트 시장의 성장에 대응하는 것입니다. 이 이니셔티브는 소비자에게 직접 전기 보트를 제공하려는 비전 마린의 전략과 마시모 마린의 유통 네트워크를 활용합니다. 전기 폰툰 플랫폼은 다양한 정부 인센티브의 대상이 되며 지속 가능한 해양 운송 부문을 목표로 합니다.
Vision Marine Technologies (Nasdaq: VMAR) a noué un partenariat avec Massimo Marine pour produire une plateforme de ponton électrique de 30 pieds pour les marchés commercial et récréatif. Cette collaboration tire parti de l’expertise de Vision Marine en propulsion électrique et des capacités de fabrication de Massimo à Garland, Texas. Ce partenariat vise à répondre à la demande croissante du marché des bateaux ponton, qui a enregistré 115 000 unités vendues en 2023, soit une augmentation de 5 % par rapport à 2022. L’initiative s’inscrit dans la stratégie de Vision Marine de proposer des bateaux entièrement électriques directement aux consommateurs, tout en utilisant le réseau de distribution de Massimo Marine. La plateforme de ponton électrique sera éligible à diverses incitations gouvernementales et cible le secteur du transport maritime durable.
Vision Marine Technologies (Nasdaq: VMAR) hat eine Partnerschaft mit Massimo Marine geschlossen, um eine 30 Fuß lange elektrische Pontonplattform für den kommerziellen und Freizeitmarkt zu produzieren. Die Zusammenarbeit nutzt das Fachwissen von Vision Marine in der elektrischen Antriebstechnologie sowie die Fertigungsmöglichkeiten von Massimo in Garland, Texas. Ziel der Partnerschaft ist es, auf den wachsenden Markt für Pontonboote zu reagieren, der 2023 einen Verkauf von 115.000 Einheiten verzeichnete, was einem Anstieg von 5% gegenüber 2022 entspricht. Die Initiative steht im Einklang mit der Strategie von Vision Marine, direkt an Verbraucher vollständig elektrische Boote anzubieten und gleichzeitig das Vertriebsnetz von Massimo Marine zu nutzen. Die elektrische Pontonplattform wird für verschiedene staatliche Anreize in Frage kommen und zielt auf den nachhaltigen maritimen Transportsektor ab.
Positive
- Strategic partnership with Massimo Marine for manufacturing electric pontoons
- Entering growing pontoon market with 115,000 units sold in 2023 (5% YoY growth)
- Dual distribution strategy through direct-to-consumer and Massimo’s network
- Product eligible for city, state, and federal grants and incentives
Insights
The partnership between Vision Marine and Massimo Marine represents a significant strategic move in the growing pontoon boat market. With 115,000 units sold in 2023 marking a 5% year-over-year growth, the market demonstrates strong consumer demand. The collaboration leverages Vision Marine’s E-Motion™ electric powertrain technology and Massimo’s manufacturing capabilities to tap into both commercial and recreational segments.
The direct-to-consumer approach, combined with Massimo’s distribution network, creates a robust go-to-market strategy. The timing aligns well with increasing environmental regulations and available government incentives for electric vehicles. This positions Vision Marine to capture market share in the growing sustainable marine transportation sector, particularly appealing to commercial operators seeking to comply with emissions regulations.
The partnership’s production strategy is particularly noteworthy. Utilizing Massimo Marine’s established manufacturing facility in Garland, Texas, provides immediate scale-up capability without requiring significant capital investment from Vision Marine. This arrangement allows for faster market entry and reduced operational overhead, while maintaining quality control through an experienced manufacturer. The fully integrated 30-foot platform design suggests standardized production processes, which should lead to manufacturing efficiencies and consistent product quality.
MONTREAL, QC / ACCESSWIRE / December 1, 2024 / Vision Marine Technologies Inc. (the “Company”, “Vision Marine”, “we”, “us”, “our”) (Nasdaq:VMAR), a pioneer in electric marine propulsion, has entered into a milestone partnership with Massimo Marine, the marine division of Massimo Group (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.
“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.
About Vision Marine Technologies Inc.
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.
About Massimo Marine
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.
Forward-Looking Statements
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.
Contact Information
Vision Marine Technologies Inc.
Bruce Nurse
(303) 919-2913
bn@v-mti.com
Massimo Group
Dr. Yunhao Chen
Chief Financial Officer
ir@massimomotor.com
Massimo Group Investor Relations
Chris Tyson
MZ North America 949-491-8235
MAMO@mzgroup.us
SOURCE: Vision Marine Technologies Inc
View the original press release on accesswire.com
FAQ
What is Vision Marine’s new partnership with Massimo Marine for VMAR stock?
Vision Marine (VMAR) has partnered with Massimo Marine to manufacture a 30-foot electric pontoon platform for commercial and recreational markets, combining Vision Marine’s electric propulsion technology with Massimo’s manufacturing capabilities.
How big is the pontoon boat market that VMAR is entering in 2023?
The U.S. pontoon boat market reached 115,000 units in 2023, showing a 5% increase from 2022, demonstrating strong growth in the sector VMAR is entering.
Where will VMAR’s electric pontoons be manufactured?
The electric pontoons will be manufactured at Massimo Marine’s production facilities in Garland, Texas.
