MONTREAL - Vision Marine Technologies Inc. (NASDAQ:VMAR), in collaboration with McLaren Engineering, has unveiled a new testing method for electric outboard motors that aligns with the upcoming SAE J1228 outboard compliance standard. This innovative approach, intended to accurately measure the performance and efficiency of high-voltage electric outboards, represents a significant development in the nautical electric industry.
The sophisticated test cell created by Vision Marine and McLaren Engineering is designed to control various critical parameters, such as electrical tension and water flow, to provide a comprehensive assessment of the powertrain system under real-world conditions.
The test measures the actual power delivered to the propeller after 30 minutes of operation, which not only meets but exceeds the 180 hp rating of Vision Marine's E-Motion™ 180E Electric Powertrain Systems. The testing method demonstrates an electric motor and lower unit efficiency of 97% and 87%, respectively.
Kevin Ledford, Global Vice President of Engineered Products for Linamar (TSX:LNR), expressed excitement for Vision Marine's system validation test, highlighting the collaboration's contribution to the durability study of the E-Motion™ product. With this successful completion, Vision Marine moves closer to industrializing their technology for the recreational marine market.
Vision Marine's new benchmark for measuring maximum continuous power is inspired by the electric car industry, offering more transparency and real power metrics that benefit consumers. Xavier Montagne, CTO & COO of Vision Marine, emphasized the company's commitment to establishing real power metrics and leading the charge towards a sustainable and informed future in electric boating.
The company's pioneering E-Motion™ outboard powertrain system combines advanced battery packs, inverters, and high-efficiency motors with proprietary software and assembly techniques, aiming to redefine recreational boating for a more sustainable future.
This article is based on a press release statement.
InvestingPro Insights
As Vision Marine Technologies Inc. (NASDAQ:VMAR) forges ahead with its innovative electric outboard motors, its market performance and financial health are critical for investors to monitor. According to InvestingPro data, Vision Marine currently holds a market capitalization of $7.69 million USD. Despite the company's technological advancements, analysts have flagged concerns over its financials. The P/E Ratio, as of the last twelve months leading up to Q1 2024, stands at -0.97, indicating that the company is not currently profitable.
InvestingPro Tips suggest that while analysts expect sales growth in the current year, they do not anticipate the company will be profitable this year. Additionally, Vision Marine has experienced a significant return over the last week, with a price total return of 8.43%. This could be indicative of market response to recent developments or a fluctuation that investors should watch closely. However, it's important to note that the stock has faced a sharp downturn over the longer term, with an 83.23% drop in price total return over the last year. Vision Marine's niche role in the electric nautical industry and moderate level of debt are factors that could influence its future performance.
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