Twin Vee PowerCats EV Subsidiary Forza X1 Releases Initial Design Images of 100% Electric Boat the FX1
Forza X1, an electric vehicle subsidiary of Twin Vee PowerCats (NASDAQ: VEEE), unveiled its first all-electric recreational boat, named the FX1. The 24-foot center console catamaran features an electric outboard motor and advanced battery technology, aiming to elevate user experience on the water. CEO Joseph Visconti highlighted the sleek design and affordable mass-market potential. Following successful sea trials of an earlier model, Forza X1 aims to become a leader in the electric marine industry, with plans for the FX1's market launch expected in 2022.
- Launch of the FX1 electric boat projected for 2022, indicating potential revenue growth.
- Advanced features including high-powered liquid-cooled battery packs and master control touch screen could enhance user experience and appeal to tech-savvy consumers.
- Dependency on timely development and marketing of the FX1 poses risks to achieving sales targets.
- Potential delays in production and market readiness due to supply chain disruptions or other unforeseen factors.
FORT PIERCE, FL / ACCESSWIRE / December 13, 2021 / Forza X1, Inc. ("Forza X1"), a wholly-owned EV subsidiary of Twin Vee PowerCats, Co. (NASDAQ:VEEE) ( "Twin Vee" or the "Company"), today released renderings of its first all-electric vehicle, to be named the ‘FX1'. "We are excited to share our current designs for our debut FX1 model with boat enthusiasts and those interested in purchasing a fully electric recreational boat," says Joseph Visconti, CEO of Twin Vee. The images released feature a 24-foot center console catamaran powered by an electric outboard motor, a pilot's seat and console with windshield and roof, padded bow and aft seating, and doors on the port and starboard sides that hinge downward to create more space on deck. "We believe our FX1 is sleek, modern, and stylish, offering design aesthetics that surpass any similarly sized boat currently on the market. Forza X1 intends to be among the first of its kind to develop and manufacture a fully electric, affordable boat for mass appeal."
Rendered Image of the FX1 on the water
According to Visconti, the initial launch of the FX1 is to include a single electric outboard motor designed by the Company, along with advanced and high-powered liquid-cooled battery packs, a vehicle control unit, and proprietary control software all integrated into a master control touch screen that will be used to control most functions of the boat. "We intend to include various features in our FX1 model boat that will enhance an owners' time on the water," stated Visconti. "The team is considering everything from the user interface, navigation suites, system data, and multimedia options. When finally available for purchase, we believe that the FX1 will be an ultra-efficient, elegant, and environmentally-friendly boat that the entire family can enjoy."
Rendered Image of FX1 from above with the doors open
The Forza X1 brand, along with its planned electric boat, was first announced last month after successful sea trials of Twin Vee's prototype 28-foot electric-powered catamaran (280 Electric Video). Since then, Forza's engineers have been hard at work applying what information they gained from prototyping and continue to collaborate as they finalize design details for the FX1.
Rendered Images of the FX1 - Multiple angles
"We see a growing trend in the marine industry toward electric boats as consumer sales of automotive EVs continue to strengthen," explains Visconti. "The Company formed Forza as its stand-alone EV wholly-owned subsidiary to demonstrate its commitment towards the marine EV revolution. We intend to establish Forza early on as a leader in electric vehicle innovation once the FX1 is ready for purchase as expected in 2022."
Rendered Image of the FX1 - Starboard view
About Twin Vee
Twin Vee is a designer and manufacturer of recreational and commercial power catamaran boats. The Company is located in Fort Pierce, Florida and has been building and selling boats for over 26 years. Learn more at https://twinvee.com/. Twin Vee is one of the most recognizable brand names in the catamaran sport boat category and is known as the "Best Riding Boats on the Water™.
Forward-Looking Statements
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 "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding the FX1 offering design aesthetics that surpass any similarly sized boat currently on the market, Forza X1 being among the first of its kind to develop and manufacture a fully electric, affordable boat for mass appeal, the FX1 including a single electric outboard motor designed by the Company, along with advanced and high-powered liquid-cooled battery packs, a vehicle control unit, and proprietary control software all integrated into a master control touch screen that will be used to control most functions of the boat, the features in the FX1 model boat enhancing an owners' time on the water, establishing Forza early on as a leader electric vehicle innovation and the FX1 being ready for purchase in 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 that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, Forza's ability to develop, manufacture and market the FX1 as planned, the Company's ability to establish Forza early on as a leader electric vehicle innovation, Forza's ability to make the FX1 ready for purchase in 2022, the Company's ability to position itself for future profitability, the Company's ability to maintain compliance with the NASDAQ listing requirements, the duration and scope of the COVID-19 outbreak worldwide, including the impact to supply chains and state and local economies, and the risk factors described in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2021. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether 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 unanticipated events, except as required by law.
Contact:
Glenn Sonoda
investor@twinvee.com
(772) 429-2525
SOURCE: Twin Vee PowerCats Co.
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