Twin Vee develops 260 GFX for estimated market of $ 1.32 billion
FORT PIERCE, FL / ACCESSWIRE / October 26, 2021 / Twin Vee PowerCats, Co. (NASDAQ: VEEE), (“Twin Vee” or the “Company”), a manufacturer of recreational and commercial power catamarans, today announced that it is designing a new GFX sport boat from 26 feet to add to the company’s expanding model lineup.
Twin Vee has released several renderings of what the 260 GFX could look like once released.
The company, as well as the shipping industry as a whole, has seen an increase in sales for over a year as experienced boaters traded and new enthusiasts entered the market. Yachtworld’s 2020 Market Index indicated that boats between 26 and 35 feet in length saw their sales increase by 9% in 2020 compared to 2019. Additionally, the value of boats between 26 and 35 sold in 2020 was estimated at $ 1.32 billion, up 18%. from 2019. Likewise, the National Marine Manufacturers’ Association reported in August that new boat sales remained healthy through May 2021, according to its new Motorboat Registration report. Data shows that retail unit sales of new powerboats increased 24% year-over-year year-over-year to May, reflecting continued interest and demand for recreational boating in the over the past year. âWe continue to see strong demand for our products,â notes Visconti. âOur company is committed to growing its market share as interest in the boating industry remains high and looks to add new dealers to our Michigan, Western and possibly network. internationally. “
Designs for its all-new Twin Vee 260 Go Fish X (GFX) were released today ahead of the Fort Lauderdale International Boat Show, where manufacturers historically unveil their new products.
Rendered image of the 260 GFX – A look at the boat from above
âSince the Twin Vee IPO on the Nasdaq more than three months ago, the company has the resources to accelerate product development and bring new models to market,â said Joseph Visconti, President and CEO from Twin Vee PowerCats Co. According to Visconti, Twin Vee aims to continue to grow its product line and to present the âbest boats on the waterâ to the greatest number of boaters, fishermen and marine enthusiasts. . âWe have found that by expanding our product line and introducing new boats, like our 260 GFX, we invite the potential to attract new customers. In addition, we are improving our ability to enter new markets that were previously untapped by us due to limited offerings and model lines. “
Rendered image of the 260 GFX – Overhead
Rendered Image of the 260 GFX – Side View
Rendered image of the 260 GFX – starboard view
Rendered image of the 260 GFX – Port view
While the 260 GFX is still in development, Visconti expects it to be in production by Q2 2022. âOur team is working hard to create a boat worthy of the Twin Vee name. A center console boat. any innovative composite that can deliver versatility, comfort, dockside appeal, fuel economy, ride performance and deliver significant value without sacrificing quality. Twin Vee’s mission is to continue to offer a wider variety of products. to larger offshore boats to electric boats and now the 260 GFX, Twin Vee offers buyers a better opportunity to find the boat they are looking for. “
About Twin Vee
Twin Vee is a designer and manufacturer of recreational and commercial power catamarans. Founded in 1996, the company has been an innovator in the sport catamaran industry, manufacturing and shipping more than 7,000 Twin Vees around the world. Learn more at https://twinvee.com/. Twin Vee is one of the most recognizable brands in the power catamaran category and is known as âBest Boats on Water â¢â.
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words âmayâ, âbelieveâ, âanticipateâ, ââ have l ‘intention to’, ‘estimate’, ‘expect’, ‘may’, ‘continue’, ‘anticipate’, ‘potential’, ‘plan’ and similar expressions which are intended to identify forward-looking statements and include statements regarding plans to develop the 260 GFX, increasing the Company’s market share and adding new dealers to its network, continuing to grow the Company’s product line, entering new markets and the 260 GFX being in production at ‘by the second quarter of 2022. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and ‘uncertainties, many of which are difficult to predict and which could cause actual results to differ materially from current expectations and assumptions from those stated or implied by forward-looking statements. Significant factors that could cause actual results to differ materially from current expectations include, among others, the ability of the Company to market new boat models and add new dealers to its network as planned, the duration and the the extent of the COVID-19 epidemic around the world, including the impact on supply chains and national and local economies, and the risk factors described in the company’s quarterly report on Form 10-Q for the quarter ended June 30, 2021. The information in this press release is only provided as of the date of this press release, and the Company assumes no obligation to publicly update or revise any forward-looking statements, whatsoever as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unforeseen events, unless the law requires it.
THE SOURCE: Twin Vee PowerCats Co.
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