Alex Mongeon, CEO and co-founder of Vision Marine Technologies Inc. (NASDAQ: VMAR ), was recently a guest on Benzinga All Access.
Mongeon discussed how the electric boating industry is seeing the same trajectory as the electric vehicle market. Vision Marine Technologies is an early adopter, building electric boats since 1995. Now the company has a complete line of electric boats that can be used for rental fleets or personal use.
"We’re providing real products. We have the world’s fastest electric boats, hitting 116 miles per hour," Mongeon told Benzinga in the interview. "Our competitors are selling golf carts and we are selling the real electric cars."
As for the company’s recent acquisition of Nautical Ventures, its Florida-based retail and service platform, Mongeon said the integration is going very well. Sales of electric boats are up over 400%, he said.
Watch the full interview here:
Featured image courtesy of Vision Marine Technologies.
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