Montreal, Canada – May 30, 2023 – 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 1 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.
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 industry, ensuring
unparalleled performance and unwavering reliability.”
Xavier Montagne, CTO and COO of Vision Marine, added, "With the acquisition of key industrial
tooling and the unwavering dedication of our team, Vision Marine is primed to meet the ever-
increasing demands of the marine sector. By seamlessly integrating advanced technology with our
relentless pursuit of innovation, we are at the forefront of shaping the future of electric boating and
revolutionizing the marine propulsion industry. This remarkable production capability further
solidifies our position as a leader in the industry, showcasing our commitment to deliver high-quality
and reliable products that meet the evolving needs of our customers."
With a secure production plan in place, Vision Marine has made strategic investments by acquiring
the industrial production tooling necessary for mass production. This includes the tooling for the
marine custom-designed battery pack’s cell stack and cooling system, and the bolstering of the
Company's intellectual property and ownership of the conception and design of the pack's external
casing.
With a production capacity of over 10,000 battery packs per year, Vision Marine unequivocally
solidifies its position as an industry leader, diligently catering to the ever-evolving demands of the
dynamic marine sector. This remarkable production capability not only fortifies Vision Marine’s
stature as a trailblazer, but also serves as an emphatic testament to our steadfast commitment to
deliver unmatched excellence and dependable solutions. By seamlessly integrating cutting-edge
technology with the Company’s resolute spirit of innovation, Vision Marine stands poised to reshape
the landscape of electric boating, instigating a profound revolution in the recreational marine
propulsion industry.
Vision Marine Technologies, Inc. (Nasdaq: VMAR), strives to be a guiding force for change and an ongoing driving factor in fighting the problems associated with waterway pollution by disrupting the traditional boating industry with electric power, in turn directly contributing to zero pollution, zero emission and a noiseless environment. Our flagship outboard powertrain (“E-Motion™”) is the first fully electric purpose-built outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design utilizing extensive control software. Our E-Motion™ and related technologies used in this powertrain system are uniquely designed to improve the efficiency of the outboard powertrain and, as a result, enhance both range and performance. Vision Marine continues to design, innovate, manufacture, and sell handcrafted, high performance, environmentally friendly, electric recreational power boats to customers. The design and technology applied to our boats results in far greater enhanced performance
in general, higher speeds, and longer range. Simply stated, a smoother ride than a traditional internal combustion engine (ICE) motorboat.
