High power electric marine motors
The electric boat motor brand Evoy, was established in Norway in 2018. It develops a range of high-powered engines for pleasure boats and professional vessels. The lowest power in the outboard catalog is 150 HP and the Evoy inboard motor develops 400 HP, a choice assumed by its leader, Leif Stavostrand. "There are few players in this niche. From our point of view, observed from Norway, there is a real market for big power. With a classic V-hull, you can have one hour of autonomy at full power and with steps and a more advanced hull, you can increase it. With foils, we can reach 2 hours, which is starting to be a good autonomy. You have to realize that not everyone needs a large range" he justifies. "With the inboard solution and its batteries, we are lighter than an equivalent Volvo with its tank."
Industrial reorganization
Although young, the company has already had to adapt its model to the evolution of the industry. Initially developed around a partnership with Evinrude, Evoy outboard engines were modified after BRP announced the end of its 2-stroke engine brand. "We found other partners. For good quality and faster time-to-market, we use matching and reinforced subbases. Evoy develops all the electrical, cooling and software aspects," explains Leif Stavostrand.
The Norwegian start-up has also formed a partnership with a battery manufacturer, which it is keeping confidential. It is thus offering an integrated solution combining energy storage and propulsion.
Development in European yachting
After a national development and installations on professional ships, Evoy is setting up in France to tackle the nautical market. The Paris office hosts the marketing manager and a business development manager in charge of building a distribution network. Professional builders are used as a showcase. Once the network is established, we will increase volumes, as in Norway. The original equipment market for pleasure craft is complicated, with strong links between engine manufacturers and boatyards. The more we work in different places and markets, the more we see that the regulations are different and sometimes more restrictive, which can be positive or negative. But there is a great demand from end customers who are used to electric cars. We thought that fuel economy would be one of the first desires, but in fact, it's mainly the calm of navigation. The target is 25 to 50 pilot systems for this first year" says Evoy's CEO.
Ambitious growth objectives
Evoy plans to double its workforce within a year to 50 employees. The company, which has a turnover of 600,000euros, will start building an assembly plant in Floro, Norway in the spring of 2021. Its development plan includes adding 300 hp and 450 hp electric motors to its outboard range in 2023 and 2025 respectively. The response of the marine market to electric solutions will determine whether these objectives are met.
