Las Vegas, Nevada--(Newsfile Corp. - March 19, 2025) - Vivic Corp. (OTCQB: VIVC) (the "Company", "we" or "VIVIC"), a leading global provider of access to luxury yachts, today announced the signing of the Electric Catamaran Yacht Joint Development Agreement with ACEL Power Inc. ("ACEL"). This collaboration will focus on developing renewable smart electric yachts.
Cooperation Details
- Product Categories: The electric catamaran yachts will include the EV1, EV2, EV58, and other series.
- Technical Research and Development:
- VIVIC: Responsible for yacht design and construction technology.
- ACEL: Tasked with the research, development, production, and integration of electric propulsion systems.
- Joint Efforts: Both parties will collaborate on advancing electric propulsion technologies and share related intellectual property rights.
- Production and Sales:
- VIVIC: Will handle the production, construction, sales, and after-sales services in Mainland China, Hong Kong, Macau, and Taiwan.
- ACEL: Will produce the electric propulsion systems and manage sales and after-sales services outside of Mainland China, Hong Kong, Macau, and Taiwan.
- Brand Authorization: All jointly developed electric yachts will feature the VIVIC and Weiguan brand logos.
Strategic Significance
This partnership represents a significant advancement in the Company's strategic positioning within the renewable electric yacht market. The collaboration aims to meet the global demand for sustainable and efficient marine solutions by enhancing product competitiveness. The complementary technical expertise of both parties will accelerate the development of electric yachts and foster innovation within the industry.
VIVIC President and CEO Tse-Ling Wang commented, "We are optimistic that this partnership with ACEL Power will enhance our competitiveness in the global market and provide fresh momentum for future growth. Both parties in the joint development are committed to advancing project implementation in line with the cooperation agreement. We look forward to sharing our progress along with any performance-related contributions in future financial reports."
ACEL CEO and Co-founder Anthony Liu added, "This partnership with VIVIC represents a significant step forward in accelerating the adoption of electric propulsion in the luxury yacht market. By combining ACEL's cutting-edge electric propulsion technology, including its electrical backbone that also powers the yacht's house systems, with VIVIC's expertise in yacht design and manufacturing, we are creating a new standard for sustainable marine innovation. Furthermore, electric hybrid version of the yachts is being developed, designed to travel hundreds of kilometers on electric power with a single charge. Through advanced digitalization, we are creating a smart yacht that enhances performance, efficiency, and the overall user experience. Together, we are not only developing world-class electric catamarans but also driving the industry toward a cleaner, smarter, and more connected future. The first delivery of the yacht is scheduled to be in July 2025. "
About Acel Power Inc.
ACEL Power is comprised of an international team of passionate experts charting the voyage to carbon neutrality. The company's mission is to design and deliver cutting-edge solutions that redefine the marine industry, elevating it to new heights of integration, intelligence, safety and sustainability, and providing unparalleled user experiences. We design and engineer Intelligent Electric comprehensive systems, software and infrastructure that empower the forward-thinking explorers of today with the propulsion products of tomorrow. A new age in maritime power has dawned, and we are proud to be at its helm delivering world-leading electrification technologies. For more information, please visit www.acelpower.com.
ACEL Power, headquartered in Vancouver, Canada, is a pioneering manufacturer of electric outboard propulsion systems, leading the marine industry in innovation and sustainability. It is noted for introducing the world's first mass-produced 50 and 75 HP electric outboard motors, and now introduces the most powerful 250 HP (Peak 350 HP) electric outboard motor available. ACEL Power is committed to shaping a sustainable future through the creation of a smart electric ecosystem. With a forward-looking vision, ACEL aims to offer a comprehensive range from 1 HP to 650 HP, establishing new benchmarks for marine propulsion in performance, safety, and longevity. Leveraging patented technology and integrated software solutions, ACEL Power is driving change towards a cleaner, more efficient boating experience.
For more information, visit www.acelpower.com.
Watch ACEL's electric outboard motors in action here.
For media enquiries and more information on ACEL Power contact:
Natasha Chawla
VP Sales and Marketing
natasha@acelpower.com
About Vivic Corp.
Vivic Corp. is a distinguished company in the yacht industry, bringing unparalleled value and experiences to clients through innovative technology, product diversity, global presence, professionalism, and a commitment to sustainable development. We continuously explore the latest technological solutions to enhance yacht performance, safety, and comfort; offer a diverse product line to meet the needs and preferences of an array of clients. We have established a broad market and service network worldwide, providing comprehensive pre-sales and after-sales services; and employ a professional, dedicated, and experienced team to deliver high-quality products and services. Additionally, we emphasize environmental protection and social responsibility, striving for sustainable development. As a leader and pioneer in the yacht industry, we will continue to work hard to bring even better and more outstanding products and services to our customers. The company's main businesses include: Independent design, development, and sales of the "VIVIC" series of operational yachts mainly targeting domestic and foreign yacht clubs and water cultural tourism operators, with sales of mass-produced yachts including several models such as VV1 (40 feet), VV2 (46 feet), and V55 (55 feet). The company continues to independently design, develop, and manufacture all-electric and traditional power yachts through its own and subcontracted factories. Our products include leisure yachts, sea fishing yachts, diving function yachts, party function catamarans, large sailboats, and more, with maintenance and repair services available to our customers. The Company is a sales agent for multiple luxury yacht brands, and it is the exclusive agent for the 'MONTE FINO' series of luxury yachts from Kha Shing Enterprises, a world-renowned yacht builder with over 50 years of experience. These yachts, sold by the Company in regions outside of Taiwan and the United States, range from 45 to 150 feet. For more information, please visit www.vivicyacht.com.
Forward-Looking, Legal and Risk Disclosure Statements
Statements in this news release concerning economic outlook, expected revenue, expected margins, expected savings, expected results, expected expenses, orders, deliveries, financial position, as well as any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements.
Forward-looking statements include statements as to demand for the Company's products and the impact of geopolitical conditions, including any related international trade restrictions. These factors include uncertainties as to the ability to record revenues based upon the timing of product deliveries, changes in economic conditions, and other risks, including those described in the Company's filings with the Securities and Exchange Commission (SEC), press releases, and other communications.
The execution of the cooperation detailed in this announcement may face various challenges, including market conditions, regulatory changes, and supply chain issues. Consequently, the Company cannot assure that all aspects of the cooperation will be completed on time or in full. Investors should carefully weigh these risks when making investment decisions.
The Company will continue to adhere to its innovation-driven development strategy, promote technological advancements in the new energy marine industry, and remain committed to creating long-term value for its shareholders. Should there be any significant developments, the Company will disclose relevant information in a timely manner in accordance with applicable securities regulations.
Investor Relations Contact for VIVIC:
Darrow Associates
Jordan Darrow
631-766-4528
jdarrow@darrowir.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245248
SOURCE: Vivic Corp.
