EV boats may not be as popular as gas-powered vehicles or hybrid cars, but they are gaining traction. Surging gas prices and society’s push to adopt green energy are spurring the electric boat market. As such, some companies have carved a niche for themselves by manufacturing electric boats.
While some EV boat makers have recently ventured into this sector, others have been operating for years and established themselves as market leaders. Keep reading to know the ten largest companies making EV boats today based on their annual revenues.
10. RAND Boats – $3 million
Starting our list of the largest EV boat companies is RAND Boats, a Danish company founded in 2013. The firm has been manufacturing high-quality boats for nearly a decade and has maintained this quality to date.
Some of their boats include:
- Escape 30: This hybrid boat has a 105kW power rating and a 47kWh battery size.
- Leisure 28: The Leisure 28 has a 170kW motor and a 78kWh battery size.
- Supreme 27: You can acquire the hybrid version or an all-electric boat. If you choose a boat with an electric propulsion system, expect a 170kW motor and a 78kWh battery size.
- Spirit 25: The Spirit 25 has an electric propulsion system with a 170kW motor and 78kWh batteries.
RAND Boats has an expansive customer base, contributing to its $3 million annual revenue.
9. Domani Yachts – $5 million
Domani Yachts was founded by Michael Goddaert in 2018, with its headquarters in Flanders, Belgium. The company has invested heavily in its electric boat manufacturing to compete with other industry players.
Their latest electric boat, the Domani E32, is a great buy for any boat enthusiast. It has a 50kW motor and can cruise at 20 Knots. You can also buy one with a 60kW or 70kW motor for the ultimate boating experience. Additionally, you can choose the lithium battery type, with a 38kWh, 56kWh, or 75kWh battery.
Besides electric boats, Domani Yachts also manufactures gas-powered ships, which brings in $5 million in revenue annually.
8. X Shore – $5 million
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X Shore is a Sweden-based company founded in 1996. However, it only began manufacturing electric boats in 2016. The company launched its prototype in 2018 before debuting its famous Eelex 8000 electric boat. Designed for high performance, this EV boat can provide you with the best boating experience.
Eelex 8000 has a spacious interior fitted and several advanced features, such as a touch screen, a high-tech navigation system, and other smart boating features. The boat’s external layout is also spectacular, giving you the luxurious curb appeal you require. Elex 8000 has a cruising speed of 20 knots, which extends to 30 knots when pushed to the limit. Its 126kWh battery has a range of 100NM per single charge.
Another electric boat on X Shore’s portfolio is the X Shore 1 with smart boating technology. The boat has advanced features like range estimates, route planning, and high-tech safety features. X Shore 1 has a top speed of 30 knots and a 125kWh battery, which gives you a driving range of 50NM. This model comes with a fast charger that recharges its battery in 3 hours.
X Shore is keen to improve boating technology, evident from its top-notch electric boats contributing to the company’s $5 million annual revenue.
7. Electracraft – $6.1 million
Electracraft was founded in 1975 and is headquartered in the United States. Unlike other companies, this EV boatmaker manufactures electric and solar-powered boats. Their electric boats include:
- The 18LS: A 9-passenger sports boat with a cruising speed of 4mph and a charging time of 7 hours.
- The 15LS: This 6-passenger boat has a cruising speed of 5mph. The 15LS also takes 7 hours to charge and has a run time of 10 hours.
- The 152TR: This electric boat takes 7 hours to charge and has a running time of 9 hours. Additionally, it has a cruising speed of 4mph.
Electracraft has multiple solar-powered boats in its portfolio, including the 152TRS, 162TRS, and 182TRS. A solar panel at the boats’ top extends their range. This company earns roughly $6.1 million annually from selling solar-powered and electric boats.
6. Vision Marine Technologies, Inc. – $7.4 million
Vision Marine Technologies is one of the most extensive electric boat manufacturers in the industry today. The company was founded in 1995 and is located in Canada. Their boat catalog includes:
- The Volt 180: This boat accommodates 11 passengers and has a maximum speed of 5 Knots. It has a lithium-ion battery and an engine power of 5HP.
- The Fantail 217: The Fantail 217 carries ten passengers and has a top speed of 5 Knots and an e-propulsion speed of 5mph.
- The Quietude 156: This four-passenger boat has a top speed of 5 Knots and uses a 110-220v charger.
Additionally, Vision Marine Technologies, Inc. manufactures electric motors, which contributes to the company’s $7.4 million annual revenue.
5. Duffy Electric Boats – $13.9 million
Founded in 1970, Duffy Electric Boats manufactures high-quality electric boats. The company specializes in luxury all-electric boats. They also have self-drive boats with multiple advanced features, such as high-tech navigation systems. Some of their electric boats include:
- Snug Harbor 18: This boat can accommodate nine passengers and has various luxuries, including wooden flooring and an ice chest. The ship also has 6-volt deep cycle batteries and a smart charger.
- Bay Island 22: The boat can accommodate 12 people and has everything you need to hold a party. Other notable features include 6-volt deep cycle batteries, a 120-volt smart charger, and a DC 48-volt motor.
- Sun Cruiser 22: Built for luxury, Sun Cruiser can accommodate 12 people. The boat has a DC 48-volt motor, 6-volt deep cycle batteries, a 120-volt AC smart charger, and a smart plug feature.
- Cuddy Cabin 22: This boat carries 12 passengers, but unlike the rest, it uses the Duff Power Rudder technology. Other features include a smart charger, 6-volt deep cycle batteries, and the smart plug feature.
- Buck Bay 16: Smaller than its siblings, the Buck Bay 16 uses the Duff Power Rudder Technology and carries only eight passengers.
Besides selling electric boats, Duff Boats offers repair and maintenance services, especially for boats using the Duff Power Rudder technology. This company earns $13.9 million from EV boat sales.
4. Twin Vee – $18.5 million
Twin Vee was founded in 1994 and manufactures quality, high-performance boats. While the company specializes in gas-powered boats, it has started manufacturing all-electric vessels. The company’s first all-electric boats – the 240 Electric and the 280 Electric – launched in 2021. Both vessels have a 50kWh battery that Twin Vee can expand to 400 kWh. The boats also have a 240V AC charger and an 80kW supercharger, which take four hours and 1.5 hours to charge their batteries.
Other Twin Veen boats include the 240 GFX Center Console, 400 GFX Center Console, 340 GFX Center Console, and 280 GFX Center Console.
Twin Vee boats are known for their outstanding quality and performance. This boatmaker earns $18.5 million annually from boat sales.
3. Pure Watercraft – $25 million
Pure Watercraft was founded in 2011 as a subsidiary of ELUX Marine, Inc., with its headquarters in Seattle, United States. The company’s mission entails providing a zero-emission boating experience. Some of their electric boats include:
- Pure Pontoon Boat: This one-seater boat has everything you need for your ocean expedition. Some of its specifications include a 66kWh battery, a level one charger, and a Bluetooth-enabled throttle. The boat’s maximum speed is 20 knots.
- Tracker Pro Team 175 TXW: This is an all-electric boat with an 8.85kWh battery with a 41-miles riding range. Tracker Pro has a top speed of 20 Knots and comes with a 6.6 kW DC charger.
- Still Water 25XL: This is a coaching launch with an 8.85kWh battery that gives you a range of 114 miles. The boat has a top speed of 19 Knots and a 6.6 kW charger compatible with a 120V outlet.
Besides EV boats, Pure Watercraft manufactures electric outboard systems. Their specifications include an 8.85 kWh battery, a charger that connects to 120V outlets, and a 25kW outboard motor.
Pure Watercraft earns roughly $25 million from boat making. However, they anticipate making more money after GM Motors bought a stake in the company, likely solidifying its place among the top 3 largest companies making EV boats.
2. Candela – $28.9 million
Candela is one of the most famous electric boat manufacturers globally. The Swedish company was founded in 2014 by Gustav Hasselskog. Candela’s primary goal is to manufacture electric boats that compete with other fossil-fuelled vessels in the market.
The C-7 electric boat is perhaps their most iconic boat. Launched in 2019, the boat uses electric repulsion and hydrofoil technology to travel at high speeds over long distances. Another fantastic feature of the C-7 electric boat is that it’s lighter and faster than regular fuel boats. With the C-7, you get a range of 50 NM when cruising at 22 knots. It also has a battery capacity of 40kWh.
Candela’s C-7 boat is very impressive and became the best-selling boat in 2020, contributing to Candela’s $28.9 million revenue.
Other electric boats manufactured by the company include:
- C-8: An all-range electric boat that can accommodate eight passengers. It has a 69kWh battery, giving you a 57NM driving range. The boat also has a top speed of 22 knots.
- P-8 Voyage: This is an all-electric boat that accommodates six passengers. The boat has a 69kWh battery, giving you a 40NM riding range. Additionally, it takes 40 minutes to charge and has a top speed of 22 knots.
- P-12: This is a fast all-electric boat that accommodates 30 passengers. The P-12 has a 180kWh battery capacity, giving you a 50NM riding range. It also has a top speed of 30 knots.
Candela also manufactures boat motors for other boat manufacturers.
1. Nautique Boats – $143 million
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US-based Nautique Boats tops our list of the largest EV boat companies. It has been operational since 1961 and made a name in the petrol-powered sports boats niche. However, the company expanded its manufacturing operations to include electric boats.
Currently, the GS22E is the only all-electric boat in the company’s portfolio, but they are working to produce more in the future. GS22E has a supercharger and takes 1.5 hours to recharge. You can also use a 240V AC charger, which will take approximately 3 hours to charge.
Summary of the 10 Companies Making EV Boats
| Rank | Company |
|---|---|
| 1 | Nautique – $143 million |
| 2 | Candela – $28.9 million |
| 3 | Pure Watercraft – $25 million |
| 4 | Twin Vee – $18.5 million |
| 5 | Duffy Electric Boats – $13.9 million |
| 6 | Vision Marine Technologies Inc. – $7.4 million |
| 7 | Electracraft – $6.1 million |
| 8 | X Shore – $5 million |
| 9 | Domani Yachts – $5 million |
| 10 | RAND Boats – $3 million |
Recent Technology Updates for EV Boats
Since February 2023, there have been technological advances for EV Boats, including:
- Battery technology: Battery technology has improved which makes electric boats able to go further distances on a shorter charger time.
- Motor technology: Motor technology has improved, making EV Boats more efficient and powerful.
- Charging technology: Charging technology improvements have made it easier and faster to charge EV Boats.
- Materials: New materials, such as carbon fiber and aluminum, are being used to make EV Boats more durable.
Possible Technology Advances for EV Boats
While planned technology advancements have not been announced for EV Boats, it is likely that you may see some or all of the following in the next six to 18 months:
- Improved battery technology: With advancements in battery technologies, we can expect to see new and more durable batteries added to EV Boats such as solid-state batteries.
- More powerful and efficient motors: Motors are becoming more powerful and efficient. With new materials and designs, we can expect to see improved motors in EV Boats.
- Advanced automation and remote control: Automation and remote control technologies are being developed to make EV Boats safer. With these improvements, EV Boats can be easier and safer to operate.
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