Region’s first all-electric boat and yacht building plant planned

Business Thursday 23/March/2023 15:31 PM
By: Times News Service
Region’s first all-electric boat and yacht building plant planned

Dubai: Advancing the prospect of sustainable marine transportation in the region, a pioneering electric marine vessel maker, Crown Electric Ships and Boats Dubai, announced clinching a deal with the Badr Sultan Group of Kuwait, to develop and supply a fleet of zero-emission electric yachts for the region.

The company said the deal valued at an initial order of $10 million is for developing a fleet of electric vessels ranging from 7.3-metre electric cabin cruisers to 23.9-metre electric catamarans specifically designed for the Middle East market.

The initial deal was signed by the Managing Director of Badr Sultan Group, Ayman Badr Sultan al-Essa, and SonuJayan, Chairman of Crown Electric Ships and Boats. The deal was initiated at the recently concluded defence expo, IDEX/NAVDEX 2023 in Abu Dhabi.

“The market demand for catamarans and day cruisers has been fulfilled by products developed for the international market. The Middle East market has specific requirements due to high temperatures, humidity, and sea states. Crown Electric Ships and Boats, which has experience in the development of special-purpose electric vessels, including unmanned electric boats for the defence industry, has taken up the challenge of developing sustainable electric vessels specific to the Middle East region,” said Ayman Badr Sultan al-Essa.

Lekshmi Salaja, vice chairperson of Crown Electric Ships and Boats said that the deal will have a significant impact on sustainability and net zero initiatives in the Middle East region. “A mid-sized cruise ship’s emissions are equal to 1 million cars, and Crown has been developing electric boats from 7 meters up to 23 meters and is moving towards the development of sustainable super yachts,” she added.

Crown is also looking at setting up an all-electric boat and yacht manufacturing plant in the UAE, which will support the local economy by creating jobs.

“Electric boat and yacht building will give a significant boost to the Middle East economy as a manufacturing hub. The electric yacht market is standing at the same position where the electric car market stood in 2011 due to advancements in battery technology in the past couple of years,” Sonu Jayan said.

The Mena region is home to 12.6 per cent of the global superyachts. The combined revenue of the top three shipbuilding companies globally adds above $100 billion and, surprisingly, none is from the Middle East, he added.