Vision Marine partners with Linamar Corporation on E-Motion™ fully electric outboard motor
by Vision Marine Technologies 28 Oct 2021 05:11 PDT
Vision Marine Technologies Sea Trials at IBEX 2021 in Tampa FL © Vision Marine Technologies
Vision Marine Technologies, Inc. (NASDAQ: VMAR) ("Vision Marine" or the "Company") is pleased to announce that it has executed a Manufacture and Supply Agreement ("MSA") with Linamar Corporation (TSX: LNR), a global leader in manufacturing solutions and world class developer of highly engineered products.
Under the terms of the agreement, McLaren Engineering, Linamar's leading edge technology and product development team for its advanced mobility segment, will manufacture and assemble the Company's E-Motion™ technology through testing, parts, tooling development, and designing the union assembly for mass production of Vision Marine's disruptive fully electric outboard motor at Linamar's facility in Canada.
Acquired by Linamar in 2003, McLaren Engineering is the foundation for Linamar's technical advancements. Linamar has more than 26,000 employees in 60 manufacturing locations throughout the world, and generated revenue totaling $7.4 billion in 2019.
"This agreement with Linamar, via our affiliation with McLaren Engineering, is a seminal event regarding the fully scaled commercialization of our E-Motion™ powertrain technology," said Alexandre Mongeon, co-founder, and CEO of Vision Marine. "We have proven the diverse capabilities of and demand for our game changing technology, which recently set a new category speed record at the famed Lake of the Ozarks Shootout in August and generated significant industry interest at IBEX in September 2021. We believe our partnership with Linamar/McLaren validates our proprietary powertrain technology, and positions Vision Marine to scale production in order to meet the growing demand from major boating OEMs, which will require our ability to deliver thousands of electric outboards. We are in continuous discussions with numerous manufacturers." - Alexandre Mongeon, co-founder & CEO of Vision Marine.
"Linamar and its McLaren Engineering division now provide Vision Marine with a world class, full service Tier 1 supply partner," added Patrick Bobby, Chief Operating Officer of Vision Marine. "We look forward to working closely with the Linamar and McLaren Engineering teams as we continue to advance scaled commercialization of our proprietary E-Motion™ technology."
"We are excited to develop precise manufacturing capability and protocols in order to scale mass production of Vision Marine's groundbreaking E-Motion™ fully electric outboard. We consider Vision Marine to be a leader in electrifying global waterways and transitioning boating propulsion to a safe and clean EV industry," stated Linamar CEO Linda Hasenfratz.
Mark Stoddart, CTO of Linamar, added, "This agreement with Vision Marine represents a unique opportunity for McLaren Engineering to lend its honed expertise to aid in the design, development, integration, manufacture and testing of Vision Marine's proprietary maritime electric powertrain system for OEMs. We are happy to be working with Vision Marine's team to scale production."
Key features of Vision Marine's Proprietary E-Motion™ Technology:
- Breathtaking power and efficiency.
- Invigorating and intuitive user experience.
- Exceptionally fast charging capabilities.
- Noiseless engine with minimal vibration.
- Sustainable solution with zero emission.
- E-Motion™ delivers an exhilarating experience due to its decadent torque to horsepower ratio.
- 100% reduction in fuel, and 90% reduction in maintenance cost versus traditional ICE powered boats.
The electric boat market was valued at $4.6 billion in 2021 and is expected to reach more than $9 billion by 2026, according to Mordor Intelligence.