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Swedish electric car maker, Polestar Automotive (NASDAQ:PSNY) released a statement Tuesday announcing the beginning of a “broader intended partnership” between itself and the electric boat firm, Candela. The announcement confirmed that Polestar will provide battery and charging systems to Candela after the two Swedish companies signed a multi-year agreement.
In its own announcement, Candela said the agreement would enable it to “tap into state-of-the-art automotive battery technology and scale up production” of its electric boats.
Candela CEO, Gustav Hasselskog said “Polestar is a dream partner for us. While electrification of cars has come a long way in the last few years, the marine sector has fallen behind. Marrying our efficient hydrofoil technology to high-capacity batteries from Polestar means we can speed up the mass market adoption of electric boats together.”
Candela said the deal with Polestar reflected an attempt to overcome hurdles related to the electrification of boating. These included what it called the “prohibitively high cost of marine batteries for electric boats.”
“I am fascinated by way Candela’s boats glide elegantly and efficient through, or better, over the water – amazing proof of the great aesthetics and experiences modern, sustainable technology can create. That Polestar will be part of future projects with Candela by supplying an essential part for the innovative propulsion of their boats, is awesome. As a battery supplier to Candela, we can help drive the transition to cleaner oceans and lakes, and electrify waterborne transport” — Thomas Ingenlath, Polestar CEO.
