According to reports, electric yacht manufacturer Arc Boat has launched **Arc Sport electric yacht, which is the company's second electric yacht launched in three years, with a price of $25$80,000.
In line with this, it will compete with the high-end yachts sold by traditional yacht manufacturers such as Nautique, Mastercraft and Malibu.
The 23-foot Arc Sport electric yacht is said to be capable of carrying up to 15 people at a time, powered by a battery system that lasts for 4 to 6 hours, and can reach a top speed of 40 miles per hour.
Arc Sport is one of a handful of startups dedicated to developing and producing electric yachts for the sports and leisure sectors, along with GM-backed Pure Watercraft and Stockholm-based X Shore, the report said.
Why push an electric yacht? Mitch Lee, co-founder and CEO of Arc Sport, said conventional fuel yachts pose serious environmental problems, including noise pollution, smoke and oil on the water. As a young man, he used to play water sports in the waters near Stockton, California, and was always disturbed and affected by the exhaust fumes and runoff of fuel yachts.
As a result, Mitch Lee wanted to take action to reduce the negative impact on traditional yacht water sports, so he teamed up with Ryan Cook, a former SpaceX engineer and current CTO of Arc Sport, to build an electric yacht.
Arc SPOR's executives also include veterans from yacht, automotive and transportation companies such as Tesla, Rivian, Lyft, Brunswick and Marinemax, who have helped the electric yacht maker convince investors and provide viable designs and technologies.
Geek.com learned that Arc SPOR received 1$100 million in early-stage funding from angel investors and venture capital firms such as the NBA's Kevin Durant and Klay Thompson; famous actor Will Smith; and venture capital **Andreessen Horowitz, Eclipse Ventures, and Menlo Ventures, among others.
Mitch Lee said the company was able to design and build an electric boat in a relatively short period of time (less than three years) because the automotive industry has invested years and billions of dollars to build the EV component chain.
He stressed that the company buys components from trusted vendors, rather than designing and producing them from scratch like electric car manufacturers Tesla and Rivian, which has allowed Arc SPOR's electric yacht to go from concept to finished product in just three years.
It is reported that Arc SPOR plans to deliver the new battery-powered Arc Sport electric yacht to customers starting this year.