- Vision Marine Technologies Inc (NASDAQ:VMAR) has signed a joint development agreement with Weismann Marine LLC to design and develop a lower unit assembly for its E-Motion 180 HP outboard propulsion system. The financial terms were not disclosed.
- The parties intend to design an operational prototype for a lower unit designated “MK5”, which will reduce power loss through the gear system, reduce hydrodynamic drag, and mitigate operational gear noise.
- Weismann Marine will design, develop, procure materials, and produce lower unit prototypes for testing and evaluation.
- The lower unit assembly, when completed, will be incorporated into the E-Motion powertrain through the agreement announced October 2021 with Linamar Corp (OTC:LIMAF) subsidiary McLaren Engineering.
- Price Action: VMAR shares are trading higher by 17.2% at $5.45 on the last check Friday.
Morgan Stanley Maintains Equal-Weight on Shoals Technologies Gr, Raises Price Target to $33
Morgan Stanley analyst Stephen Byrd maintains Shoals Technologies Gr (NASDAQ:SHLS) with a Equal-Weight and raises the price target from $21 to $33.
