Swedish electric boatbuilder signs largest order in company history

Swedish high-performance electric boat maker X Shore has signed its largest order to date with M Yachts, a Germany-based yacht agency offering dealership, charter and advisory services. This agreement involves the delivery of 32 boats to the DACH region (Germany, Austria, and Switzerland), with completion expected by the end of 2024.

The boats, incorporating a range of X Shore’s designs, will be displayed in M Yachts’ showrooms across these markets. X Shore says this will allow customers in the region to view, test, and service X Shore boats locally, streamlining the customer experience from purchase through after-sales support.

According to research by management consulting firm Arthur D. Little, commissioned by X Shore, the German boating market is projected to reach an electrification rate of around 12 per cent by 2027. Factors contributing to this growth include bans on internal combustion engines (ICE) on several lakes, environmental awareness, and the country’s rapid adoption of electric vehicles. Similarly, demand for sustainable alternatives is rising in Switzerland and Austria due to ICE bans on lakes.

“The DACH region is a crucial market for X Shore, sharing our deep connection to the water and commitment to sustainable boating,” says X Shore CEO René Hansen. “This deal with M Yachts to deliver 32 boats reflects our shared vision of making boating one with nature through sustainable performance, seamless technology, and modular minimalistic design. It’s a key part of our long-term commercial strategy and we’re excited for the future growth that will come with the partnership with M Yachts.

“This landmark deal with M Yachts not only highlights the growing demand for sustainable boating solutions but also strengthens X Shore’s strategic foothold in a region at the forefront of electric mobility.”

Last year, X Shore raised around 300 million SEK (£23m) in a round of fundraising.

In a statement, M Yachts managing partners, Jan Ole Hagen and Philipp von Arnim, add: “X Shore boats are superb results of engineering and design and we’re overjoyed to soon showcase them across our sites in the DACH region. The boats are fast, sleek, and built with true craftsmanship in X Shore’s Swedish factory.”