After it was announced that Vision Marine Technologies Inc. (NASDAQ: VMAR) had successfully regained its NASDAQ listing criteria, its shares saw a significant increase. VMAR stock has up 36.12% as of the most recent pre-market trade, hitting $4.07.
Returning to NASDAQ Listing Standards Compliance
The NASDAQ Hearing Panel formally notified VMAR that it had now satisfied the bid price criteria outlined in NASDAQ Listing Rule 5550(a)(2). This accomplishment guarantees Vision Marine’s continuous listing on the esteemed exchange by meeting the requirements specified by the Panel in its October 3, 2024, decision.
VMAR Launched E-Motion 180e Inboard Electric Motor System
On the operational front, Vision Marine has recently unveiled the E-Motion 180e Inboard electric motor system. This innovative solution offers an impressive continuous 180 horsepower at the propeller, marking a significant step forward in Vision Marine’s expansion within the electric marine propulsion sector. By entering the inboard engine market, the company broadens its product range, making its advanced electric technology accessible to a wider array of vessels.
Strengthening Market Position in the Electric Propulsion Sector
Approximately 95% of the components used in the E-Motion 180e inboard system are derived from the wildly popular E-Motion outboard motor. This integration ensures that the inboard system inherits the same reliability and consistent performance that has made the outboard motor a proven success.
The technology has shown to be ready for recreational boating applications after extensive research and sea trials with a well-known European inboard boat manufacturer. Due to the growing demand for environmentally friendly propulsion systems, the worldwide inboard engine market is expected to develop at a compound annual growth rate (CAGR) of 6.4% between 2023 and 2032.
Vision Marine (VMAR) is in a good position to take advantage of this growing industry. The company’s dedication to developing sustainable propulsion solutions and satisfying the expanding demands of recreational boaters across a range of vessel types is demonstrated by the introduction of the E-Motion 180e Inboard.