Business
Twin Vee PowerCats Receives Positive Response to Its All-New 22-Foot LFG Marine Boat and Begins Effort to Expand LFG's Monohull Line
FORT PIERCE, FL / ACCESSWIRE / March 8, 2023 / Twin Vee PowerCats, Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer
About this update from Twin Vee Powercats Co.
[{"type":"text","content":"FORT PIERCE, FL / ACCESSWIRE / March 8, 2023 / Twin Vee PowerCats, Co. (Nasdaq:VEEE),(\"Twin Vee\" or the \"Company\"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that initial orders of LFG Marine's all-new twenty-two-foot center console boat exceeded the Company's expectations. Additionally, LFG Marine's first boat model received overwhelming accolades from national boat clubs at a recent franchise event and traditional boat dealers looking for the perfect boat for their customers. \"We're thrilled that our first venture into the monohull boat market has been well-received,\" says Joseph Visconti, CEO and President of Twin Vee PowerCats Co. \"Our team is working hard to start fulfilling these new orders and recently purchased a second set of molds to help manufacture more 220 LFG boats per month. We anticipate that we'll be able to produce over ten 22-foot LFG boats per month with two sets of 22-foot center console molds and one initial set of 22-foot dual console molds. With this momentum, we feel confident we can design and manufacture exciting new LFG Marine products going forward.\"With such a positive response to Twin Vee's first foray into the monohull market, the Company intends to allocate additional resources to its LFG Marine brand to create all-new, stylish, and modern boats to add to its model line. Greg McLogan, Twin Vee's Chief Marine Engineer, will focus on developing LFG Marine's entire lineup of dual and center console boats ranging from 22 feet to 34 feet in length based on the 220 LFG's success. \"LFG Marine is passionate about making monohull offshore sport boats that are bold and an expression of our customers' personalities as well as accommodate all of the necessary amenities for a fun and unforgettable day on the water,\" states McLogan.According to Visconti, Twin Vee's investment in expanding future LFG Marine boat models is also a proactive response to the shifting and dynamic recreational marine market. Boat manufacturers have increased their prices recently due to rising materials, labor, and other costs. \"This trend has discouraged average consumers from purchasing high-end offshore boats and are forced to buy used boats or give up boating altogether.\" Boat clubs and dealers have also found it challenging to source reasonably priced boat brands with a...