This acquisition marks the formation of North America’s first electric boat propulsion and boat dealership company by Vision Marine Technologies Inc. (VMAR).
This development establishes a unique presence in the market.
It signifies a new milestone for Vision Marine Technologies Inc. in the industry.
Alexandre Mongeon, CEO of Vision Marine Technologies Inc., stated that this acquisition marks a pivotal step in the company’s strategy to scale and compete at the highest level of the global boating industry.
The global electric boat market is expected to surpass USD $2.5 billion by 2030, with a compound annual growth rate (CAGR) of more than 18%.
The transaction was funded through a combination of cash, a seller’s note, and up to 255,102 shares of Vision Marine Technologies Inc.
These shares represent Vision Marine’s common stock.
