ePropulsion smashes 2021 growth target in just eight months

Sept 14, 2021

ePropulsion, a global leader and market challenger in marine electric propulsion systems and services, has announced that it has reached 100% growth in sales revenue in 2021, achieving its growth forecast in a remarkable eight months.

These results have been driven by an increased popularity of electric propulsion in Europe and North America, which are the company’s two fastest growing markets, with the majority of sales coming from the leisure marine industry. Over 10,000 units have already been sold across the globe in 2021, with the largest markets being the United Kingdom, United States and Germany. Building a distribution network from just three countries in 2015, to over 60 countries and areas to date, and a workforce growth from four to over 200 – the industry demand for ePropulsion’s products is set to propel even further. 

This explosive growth comes just eight months after launching an entirely new product line. The latest range includes the Spirit 1.0 Evo, Navy 3.0 Evo and Navy 6.0 Evo models; an evolution of its established Spirit and Navy product lines, with hydrogeneration capabilities. Offering new features across the lineup, ePropulsion also created a brand new 9.9HP Pod Drive model to cement its array of innovative new products brought to market in 2021.

Founded and incubated at the Hong Kong University of Science and Technology in 2012, ePropulsion has grown rapidly from when it launched its first product at METSTRADE in 2013, to establishing its Songshan Lake headquarters in 2015 and developing distribution channels throughout Europe before starting production six years ago. ePropulsion also recently announced that it is opening an office in Hong Kong to strengthen its research and development capabilities. The new facility will support ePropulsion’s growth as an elite innovator that is introducing a smarter boating experience to the world. 

ePropulsion claims to be the first company to introduce brushless direct drive technology and FOC (field-oriented control) into the electric outboard market. The direct drive structure further reduces the number of internal moving parts and eliminates the gearbox, resulting in less mechanical friction and much better reliability. 

For more information visit www.ePropulsion.com .