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Two Swedish electric mobility companies are teaming up in the first-ever battery deal between an electric car company and an electric boat maker. Luxury EV maker Polestar (PSNY, $8.41) will provide battery and charging systems to electric boat firm Candela after the two Swedish companies signed a multi-year agreement.
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Candela says the battery deal will enable it to scale up production swiftly, bringing mass-market electric boats one step closer to reality by tapping into state-of-the-art automotive battery technology.
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The deal between the two Swedish companies is an attempt to overcome the two major hurdles for electrifying boating. The first hurdle is the massive energy consumption of conventional powerboat hulls, which so far has resulted in poor performance of electric boats. This obstacle has been cleared by Candela’s hydrofoil technology which cuts energy usage of powerboats by up to 80%.
Why it matters
Marine-based transport is no different from other types of mobility in that it has a considerable environmental footprint. Efforts to address this are being made in a number of ways. According to Candela CEO Gustav Hasselskog, to make electric boats mainstream, we need to build thousands of boats every year. Working together with Polestar, we’re able to bring the scale of production and world-class engineering from the automotive industry to the marine sector.
