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Axopar Buys 10% Stake in Evoy Motors to Advance Electric Boats

Evoy Motors has the highest horsepower electric outboard currently on the market with the 300 hp 'Storm.'

Emerging Finnish boatbuilder Axopar has joined a growing industry movement by purchasing a stake in an electric outboard maker.

Axopar, which is based in Finland but manufactures in Poland, has purchased a 10% stake in Norway's Evoy Motors.

Evoy, like several electric engine manufacturers, has been building momentum. Their success is likely due to the impressive 'Storm' series of electric outboards, which include 120 hp and 300 hp platforms.

Given the state of the blossoming electric market, a 300 hp outboard represents the top end of available options and will be an attractive choice for boatbuilders looking to power medium to larger sized vessels.

Other higher-powered electric motors currently making an impact on the market include the Vision Marine E-Motion 180 and OXE Marine's prototype 450 hp diesel-electric hybrid.

Inboard power options have also seen an increase in viability thanks to boats like X-Shore's 230 horsepower Eelex 8000, Chris-Craft's Launch 25 GTe with 420 hp, and the celebrity-endorsed 475 hp Arc One.

Evoy also builds two high-powered inboards exceeding most current options - the 120 hp 'Breeze' and 400 hp 'Hurricane.'

Jan-Erik Viitala, Founding Partner, Axopar Boats, said in a press release: “On this journey Evoy has proven to be a perfect match for Axopar. Our mission together is to inspire and catalyze a broader movement towards sustainable boating, encouraging other boat manufacturers to invest in electric boating as well, with development into full scale serial production. We believe that electrification will grow in stages and we will be together in the forefront of development.”

According to both companies, future plans include the development of turnkey motor solutions. Axopar's longstanding mission statement has been to provide access to boating using non-conventional thinking.

Evoy Storm 300 HP
Evoy Storm 300 HP

The connection with Evoy is a logical step towards providing access and options to boaters of all types. Both companies previously worked together in 2022 on the Axopar 25 Electric Prototype, which was well-received by investors and performed handily in sea trials.

Their joint statement reads: "both companies are unitedly aiming to accelerate and make the adoption of electric technology as straightforward and accessible as possible to all" while also offering "viable alternatives to traditional internal combustion engine powered boats."

Leif A. Stavøstrand, Evoy’s CEO, added, “We are thrilled to welcome Axopar as a strategic investor, bringing not only significant investments, but also a great network and validation of Evoy. The partnership marks an important milestone for Evoy, opening doors into the North American market. Additionally, we are honoured by these investments, as it reflects the continued confidence in our mission and potential. Together with Axopar and other major investors following, this funding round opens a new chapter in our journey to make boating irresistible, eliminating emissions, and building a strong global brand.”

You can see how the initial Axopar/Evoy 25 Electric Prototype performed in the video below:

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