Business
Vision Marine Secures Key Industrial Tooling to Meet Growing Demand in the Marine Industry
MONTREAL, May 30, 2023 (GLOBE NEWSWIRE) -- Vision Marine Technologies Inc. (NASDAQ: VMAR) (“Vision Marine” or the “Company”), a pioneering force in
About this update from Vision Marine Technologies Inc.
[{"type":"text","content":"MONTREAL, May 30, 2023 (GLOBE NEWSWIRE) -- Vision Marine Technologies Inc. (NASDAQ: VMAR) (“Vision Marine” or the “Company”), a pioneering force in recreational electric marine propulsion, proudly announces the acquisition of critical industrial tooling to support the production capacity of over 10,000 battery packs per year. This strategic milestone firmly establishes Vision Marine as a frontrunner in meeting the escalating demand for electrified marine solutions. Over the past two years, Vision Marine, in collaboration with its partners, has developed the industry's first monolithic marine-dedicated battery pack, meticulously engineered to power the E-Motion™ Powertrain. These state-of-the-art battery packs surpass readily available alternatives sourced from the automotive industry, showcasing Vision Marine’s unwavering commitment to deliver superior quality and performance. The VMT 700V DC Powerpacks boast a range of indispensable features tailored specifically for marine applications, including an IP67 rating, unrivalled durability, a custom design form factor crafted to seamlessly integrate with manufacturing and integration requirements, and an unwavering focus on meeting rigorous industrial production standards. With the imminent transition to production slated for July 2023, Vision Marine is proactively preparing to gradually ramp up its production capabilities to meet the burgeoning demand for its electric powertrain solutions. To ensure a seamless and efficient manufacturing process, Vision Marine has secured production partnerships with a streamlined network of regional suppliers in Europe, mitigating any potential risk of production and supply shortages. The production of marine battery packs will take place in a cutting-edge, brand-new facility in Europe, renowned for its pioneering technology and unwavering commitment to the highest certification standards. \"Our voyage towards mass production represents a monumental milestone for Vision Marine,\" remarked Alexandre Mongeon, CEO and co-founder of Vision Marine. \"Through calculated investments in cutting-edge tooling and the establishment of a robust supply chain, we are poised to revolutionize the realm of pleasure boat electrification. Our industry-leading monolithic battery pack and streamlined production capabilities position us as a trusted vanguard in the ind...