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Home>>News>>Electric Boat Startup Arc Aims to Revolutionize Boating
Electric boat startup Arc wants to make a big splash
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Electric Boat Startup Arc Aims to Revolutionize Boating

Ali Hassan
August 11, 20210

As the world increasingly shifts toward sustainable solutions, startups focused on electric vehicles are gaining traction. One such ambitious contender in the marine sector is Arc, an electric boat startup determined to transform the boating experience. Arc’s innovative designs promise to reduce the disadvantages of traditional boating, all while enhancing the joy of spending time on the water. In this article, we explore Arc’s vision, the challenges ahead, and how it seeks to make a significant impact on the boating industry.

The Vision Behind Arc

Rethinking Boat Ownership

Arc’s founder, driven by a passion for innovation, believes that traditional boat ownership is fraught with burdens. From high maintenance costs to complicated operations, the boating experience often discourages potential enthusiasts. According to Arc, the goal is simple: create an electric boat that not only minimizes costs but also alleviates the common burdens associated with boating. By focusing on user-friendly designs and low-maintenance solutions, Arc aims to attract a broader audience.

Electric Boats: A Step Toward Sustainability

Comparing Electric and Gasoline-Powered Watercraft

While Arc’s initial models may not yet surpass the power and performance of traditional gasoline-powered boats, they are undeniably a progressive step toward eco-friendliness. Arc recognizes that transitioning to electric boating is essential not only for reducing carbon footprints but also for preserving aquatic ecosystems. Electric boats operate quietly, produce zero emissions, and minimize disturbance to marine life, aligning with a growing global emphasis on sustainability.

Advantages of Electric Boats

Electric boats offer several advantages over their gasoline counterparts. They are generally quieter, leading to a more serene experience on the water. Additionally, electric propulsion systems can be more efficient, translating to lower operational costs in the long run. As technology advances, increased battery capacity and faster charging capabilities will only enhance the attractiveness of electric boats, making them a viable alternative for recreational boating.

The Design Philosophy: User-Centric Innovation

Enhanced Enjoyment on the Water

Arc is not just focused on creating a functional electric boat; it aims to enhance the overall experience of being on the water. Imagine a boat that requires minimal maintenance and has intuitive features that make every outing enjoyable. The team at Arc envisions crafting vessels that combine sleek, modern design with cutting-edge technology. Their goal is to ensure that users spend more time enjoying their adventures rather than worrying about upkeep.

Breaking Down Barriers to Entry

Demystifying Boat Ownership

One of the biggest hurdles for prospective boat owners is the intimidating nature of the acquisition process. Arc wants to demystify this experience by offering a streamlined purchasing process and user-friendly designs. By simplifying the journey from interest to ownership, Arc hopes to encourage more individuals to explore the joys of boating, regardless of their prior experience.

Education and Community Engagement

To foster a supportive ecosystem for new boaters, Arc is committed to providing educational resources and community engagement opportunities. By offering workshops, hands-on demonstrations, and training sessions, Arc aims to equip prospective owners with the knowledge and confidence needed to navigate their boating journeys successfully.

The Road Ahead: Challenges and Opportunities

Overcoming Industry Skepticism

While the electric vehicle market is experiencing rapid growth, the boating industry traditionally lags behind. Convincing seasoned boaters to switch to electric options might prove challenging. Arc must navigate this skepticism by showcasing the practical benefits of electric boats and highlighting real-world success stories.

Continuous Innovation

Innovation in technology will play a crucial role in the success of Arc’s electric boats. As battery technology improves and charging infrastructure expands, Arc can enhance its offerings. Staying ahead of technological trends will be vital to ensuring the brand remains competitive and appealing to consumers.

Conclusion

Arc’s ambition to revolutionize the boating industry with its electric watercraft is both commendable and necessary. By tackling the issues of traditional boat ownership and championing sustainable practices, Arc is positioning itself as a leader in an evolving market. While challenges lie ahead, the commitment to reduce the burdens of boating and enhance the enjoyment of being on the water sets Arc apart. As they continue to innovate and engage the community, the future of electric boating appears promising, with Arc at the helm.

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The High Prices of Used Cars May Finally be Dropping

According to an executive from one of America's top auto retailers, the scorching used car market shows signs of slowing down. On Friday's CNBC's "Worldwide Exchange", Jeff Dyke, president and CEO of Sonic Automotive said that new car inventories would improve over the coming months. It will help to reduce the inventory problems that are occurring on the pre-owned side. According to Edmunds data, the average transaction price of a used car in the second quarter 2021 was $25,410. This is an increase from $22,977 the first quarter and 21% over the previous year. Edmunds' highest-ever average price for a used vehicle over a quarter is this figure. Dyke said that there are signs the market is stabilizing. Prices dropped as high as $2,000 on a used car in July, as new cars are starting to come on the market. "Right now we have an eight-to nine-day supply on the ground of new cars. Dyke stated that if you consider our BMW brand, which we have 15 stores, we'll have a 25 to 30-day supply. This will allow us to begin regenerating preowned inventory for all dealers and help with the pricing. We have never before seen an inversion where wholesale prices are higher than retail prices. But that's coming to an end. New car buyers will be more likely to sell their vehicle to dealers and retailers due to the increased value of trade-in options. Edmunds reports that the average trade-in value for a used vehicle was $21,224 in June, an increase of 75.6% over the previous year. Edmunds reports that the average cost for a new car was $40,827 in the second quarter, up from $40,000.70 in the first quarter. This is a 5% increase over the previous year. The shortage of semiconductor chips has caused a slowdown in new car production. This problem is still lingering. General Motors stopped most of its U.S.- and Mexican full-size pickup trucks, including the Chevrolet Silverado (and the GMC Sierra) production last week. According to the company, production is expected to resume next week. Ford also saw a reduction in North American vehicle production from July to August, due to a lack of chips. This affected vehicles such as the Ford F-150 and Bronco Sport, as well as Explorer. According to the company's earnings, supplies of critical parts are improving. However, it lost 700,000 vehicles in the second quarter. Ford had predicted that the semiconductor shortage would have an adverse impact of $2.5 billion in April. However, it did not provide any update on last week's report. Dyke stated that he expects the chip shortage to "alleviate" in the next months, but companies such as Sonic Automotive who sell used cars have found the tight supply to be a benefit. Sonic Automotive's second quarter ended June 30 saw $3.4 billion in revenue, an increase of 58.7% over the previous year and a quarterly record. Particularly, the revenue from used vehicles increased 56.6% year over year. EchoPark Automotive, which sells pre-owned cars, set a new quarterly record with $595.6million in revenue. This is an increase of 88.9% over the previous year. Retail sales volume increased by 68.9% over the previous year. Sonic Automotive announced that it will be conducting a strategic review on EchoPark. This is due to the success of the division, as well as confidence in the runway for expansion. Sonic Automotive said that it is exploring all options, including the possibility of spinning off the division as a public company. In recent years, several other used-car chains went public including Vroom in 2020 and Carvana in 2017. CarMax, America's largest used car dealer, saw its revenue rise 138.4% year over year to $7.7 Billion in its 2022 fiscal 1 quarter. The quarter saw the company sell 452,188 units via its wholesale and retail channels, an increase of 128% over the previous year.

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