Failure As EV Reaches Boating Industry
EV sales have leveled off in the US. However, the technology has started to be adopted by plane and boat manufacturers. Installing electric engines in boats is the easier of the two. The popularity of floating engines saves many and makes the engines more powerful.
According to Bloomberg, “A handful of startups are starting to electrify the recreational boating industry. They’re following the formula pursued by EV automakers, scaling technology development by initially selling small numbers of high-end models to subsidize the production of more mass-market vehicles.”
Too Expensive
Most of the current models are expensive, with some relatively small boats priced in the $300,000 range. However, like EVs, they are super fast. Small eclectic engines can put out 500 HP. The industry does admit there will be some “sticker shock.”
Boat EVs are quiet, but that may not be an issue for most people. With gas prices low, the cost of operation may also be low. A jump in gas prices may drive sharp increases in adoption.
As with EVs, the primary challenge for EV boats is charging. Installing chargers on private docks can be highly expensive, and towns with marinas for public use are unlikely to invest. Both of these are hurdles to adoption.
EV boats will face the same growth curve that EVs have faced for a decade. What is their range? How hard are they to repair? And where will people charge them?
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