Chinese maker of electric outboards predicts a further 100% rise in 2022
| 24 February 2022
ePropulsion, a China/Hong Kong builder of electric propulsion systems for boats, has announced 200% year-on-year growth in sales revenue in 2021, with a forecast for continued growth in 2022.
In a statement released on February 23, the company said that it had sold over 15,000 units worldwide. The company expects a 100% growth rate in 2022, “as more boat owners look to switch to more sustainable boating and convert to electric propulsion systems as take-up for commercial use and OEM applications rises.”
Europe and North America are the two largest markets for ePropulsion, with the UK and Germany leading in Europe. The leisure marine business accounts for most sales. The company has appointed distributors in Australia, South Korea, Thailand, Singapore and Serbia in the last few months.
“Demand for electric propulsion is spurred by conscientious boaters looking to transition to a more sustainable way of boating. With this, industry-wide developments will be required, such as widespread electric charging networks,” said Danny Tao, CEO of ePropulsion.
“If we are to make the switch to greener, more sustainable boating a reality, the number of marinas with charging infrastructure needs to increase significantly, with more charging points at each marina. This will facilitate a faster transition to electric propulsion. We need stakeholders, including electric boat manufacturers, power solution companies, marinas and policymakers to work together to bring about change.”
Longer-term, ePropulsion predicts marinas may look to sustainable energy sources such as solar, tide and wind power, whilst Apps and websites that show network charging locations will become the norm. “The development of these solutions will enable long-distance boaters to plan their trips more effectively, as well as helping more local boaters to find charging points should the need arise,” Tao said.
The company said it will continue to invest in R&D to expand its product line, with enhancements to its propellors for maximum efficiency across the whole RPM range, from propulsion to regeneration. ePropulsion is convinced that advances in battery technology will spur all-electric propulsion in boating. The company is also interested in “smart boating technology”, aimed at making its systems more environmentally friendly and user friendly.