07-08-2021, 04:16 AM
[DD] $VMAR, Tesla of the Sea
<!-- SC_OFF --><div class="md"><p>Okay first, let me get through the buzz words... <em>ahem</em>... </p> <p>“NEW EV SECTOR??!? TESLA WAS AN EV!!! EV + BOAT = ????? “</p> <p>Now that that’s out of the way, let me tell you what Vision Marine does and why I really like this stock.</p> <pre><code>- Company </code></pre> <p>Vision Marine is a Canadian boating company that specializes in electric motors. Until now they’ve just made their own boats and sold packages to OEMs. Recently, however, they announced their first consumer outboard motor, the 180E. This is a 180 horsepower (think 24 foot center console boat) fully electric motor that they rate for 70 miles at 20 mph. It is emission free, quiet, and requires 90% less maintenance! (This is huge). Downsides are cost and limited charging options.</p> <pre><code>- Health of Company </code></pre> <p>One thing VMAR has going for it that Tesla did not, is that it is already* a profitable company. (Was profitable until it began RnD on the 180E). They have amassed enough liquidity to continue their current spending rates for 3 years before going into debt. As many of you know, Tesla was in debt from the start. </p> <pre><code>-The Bad </code></pre> <p>The bad things about the product are that the entire package is $80k. This is VERY expensive. The motor itself is $26k and the rest goes towards battery, operating system, monitor, and charging kit. For reference, a Yamaha 175hp outboard engine costs only $18k. Another downside is charging solutions, this motor is not made of off-shore voyages, but more for inland fishing and days on the water. However, I don’t think these are dire problems. I will discuss the charging in a moment, but as for the cost, you have to remember this is their first product. The next generations should be more accessible.</p> <pre><code>- The Good </code></pre> <p>These things are efficient. I mean REALLY efficient. The package ships with a 90 kWh battery. Those familiar with EVs are thinking “70 miles? Tesla’s are pushing 300 miles with a battery like that!” And... you’re right. But the thing about boats is that they are inherently inefficient. Not only do they have to move air out of the way, but water too. It is impossible to find exact stats due to the variety of boats this could go on, but the average center console with a 175 hp engine will see 3 mpg ON A GOOD DAY. Suddenly only 25% efficiency of its land counterpart looks pretty good.</p> <p>I said charging would be a pain right? Well it is a pain, more more of a hangnail and less of a broken finger. These engines require 220v to charge which needs to be installed at your home, just as with a Tesla or other EV. The good news is that many docks and most marinas already come equipped.</p> <p>Also note: they just received a $1.7m grant from the Canadian government… as if their financials weren’t good already good enough. </p> <p>Oh and did I mention that according to Forbes, Drake and Robert De Niro rock their tech? (Can’t find their sauce but it’s cool I guess?)</p> <p>TL;DR: VMAR makes water Tesla’s, have a healthy company history, and are on the right track. If they can produce a product the public likes within 3 years, the possibilities are endless.</p> <p>Positions: 44 @ $9.15. Not financial advise.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Ok_Resolution_3670"> /u/Ok_Resolution_3670 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/ofja9m/dd_vmar_tesla_of_the_sea/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/ofja9m/dd_vmar_tesla_of_the_sea/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Okay first, let me get through the buzz words... <em>ahem</em>... </p> <p>“NEW EV SECTOR??!? TESLA WAS AN EV!!! EV + BOAT = ????? “</p> <p>Now that that’s out of the way, let me tell you what Vision Marine does and why I really like this stock.</p> <pre><code>- Company </code></pre> <p>Vision Marine is a Canadian boating company that specializes in electric motors. Until now they’ve just made their own boats and sold packages to OEMs. Recently, however, they announced their first consumer outboard motor, the 180E. This is a 180 horsepower (think 24 foot center console boat) fully electric motor that they rate for 70 miles at 20 mph. It is emission free, quiet, and requires 90% less maintenance! (This is huge). Downsides are cost and limited charging options.</p> <pre><code>- Health of Company </code></pre> <p>One thing VMAR has going for it that Tesla did not, is that it is already* a profitable company. (Was profitable until it began RnD on the 180E). They have amassed enough liquidity to continue their current spending rates for 3 years before going into debt. As many of you know, Tesla was in debt from the start. </p> <pre><code>-The Bad </code></pre> <p>The bad things about the product are that the entire package is $80k. This is VERY expensive. The motor itself is $26k and the rest goes towards battery, operating system, monitor, and charging kit. For reference, a Yamaha 175hp outboard engine costs only $18k. Another downside is charging solutions, this motor is not made of off-shore voyages, but more for inland fishing and days on the water. However, I don’t think these are dire problems. I will discuss the charging in a moment, but as for the cost, you have to remember this is their first product. The next generations should be more accessible.</p> <pre><code>- The Good </code></pre> <p>These things are efficient. I mean REALLY efficient. The package ships with a 90 kWh battery. Those familiar with EVs are thinking “70 miles? Tesla’s are pushing 300 miles with a battery like that!” And... you’re right. But the thing about boats is that they are inherently inefficient. Not only do they have to move air out of the way, but water too. It is impossible to find exact stats due to the variety of boats this could go on, but the average center console with a 175 hp engine will see 3 mpg ON A GOOD DAY. Suddenly only 25% efficiency of its land counterpart looks pretty good.</p> <p>I said charging would be a pain right? Well it is a pain, more more of a hangnail and less of a broken finger. These engines require 220v to charge which needs to be installed at your home, just as with a Tesla or other EV. The good news is that many docks and most marinas already come equipped.</p> <p>Also note: they just received a $1.7m grant from the Canadian government… as if their financials weren’t good already good enough. </p> <p>Oh and did I mention that according to Forbes, Drake and Robert De Niro rock their tech? (Can’t find their sauce but it’s cool I guess?)</p> <p>TL;DR: VMAR makes water Tesla’s, have a healthy company history, and are on the right track. If they can produce a product the public likes within 3 years, the possibilities are endless.</p> <p>Positions: 44 @ $9.15. Not financial advise.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Ok_Resolution_3670"> /u/Ok_Resolution_3670 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/ofja9m/dd_vmar_tesla_of_the_sea/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/ofja9m/dd_vmar_tesla_of_the_sea/">[comments]</a></span>Kind Regards R