Polestar and Candela team up on electric boat tech

Under the new agreement, Polestar will supply the battery and charging systems for Candela’s hydrofoiling speedboats. Candela said the deal allows the company to tap into advanced automotive battery technology and scale up production.

“To make electric boats mainstream, we need to build thousands of boats every year,” said Gustav Hasselskog, Candela CEO and founder. “Working together with Polestar, we’re able to bring the scale of production and world class engineering from the automotive industry to the marine sector.”

The deal is an attempt to overcome two major hurdles for electrifying boating. The first hurdle is the massive energy consumption of conventional powerboat hulls, which so far has resulted in poor performance of electric boats.

Secondly, the cost of marine batteries for electric boats have been ‘prohibitively high’, Candela said. Electric boatbuilders have typically relied on smaller, boutique vendors of marine battery packs. Scarcity and high unit costs of these packs are two factors that have prevented electric boats from achieving parity with ICE vessels.

“As the number of electric vehicles increases worldwide, a steady battery supply will become increasingly important to hold a competitive edge and allow us to compete with combustion engine boats,” said Hasselskog in a statement.

Flying above the water’s surface at 30 knots, the Candela C-8 and P-8 Voyager use up to 80 per cent less energy than conventional boats of the same size due to reduced water friction. The computer-actuated foils also offer benefits such as zero wake and a silent ride, Candela said.

After launching the Candela C-8 leisure boat in 2021 and raising €24m from EQT Ventures, Candela is now moving into a new production plant where the P-series commercial vessels and C-series leisure boats will be produced.

“I am fascinated by way Candela’s boats glide elegantly and efficient through, or better, over the water – amazing proof of the great aesthetics and experiences modern, sustainable technology can create,” said Thomas Ingenlath, Polestar CEO.

“As a battery supplier to Candela, we can help drive the transition to cleaner oceans and lakes, and electrify waterborne transport.”

The agreement marks the beginning of a broader intended partnership between the two companies, with both committed to exploring further opportunities for collaboration.