Polestar to supply batteries to electric hydrofoil boat company Candela

Extends Polestar’s efforts to drive sustainable electric mobility beyond the automotive industry.

Polestar, the Swedish premium electric performance car company, has signed a multi-year agreement to supply battery and charging systems to Swedish hydrofoil electric boat company, Candela. The agreement marks one of the world’s first direct battery technology collaboration between companies from the automotive and marine industries.

As leading EV brands in their respective sectors, both Polestar and Candela share common values of innovative design and commitments to sustainability. Utilising computer-guided hydrofoils which lift the hull above water, Candela’s electric boats ‘fly’ above the surface and use up to 80% less energy at high speeds compared to traditional motorboats.

Candela’s crafts produce zero emissions and minimal noise, combining a light environmental footprint with better passenger comfort and a smoother cruising experience compared to traditional boats. By combining Polestar’s batteries with Candela’s pioneering electric hydrofoil technology, both companies aim to propel the growth of sustainable electric mobility in society.

Thomas Ingenlath, Polestar CEO, says: “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. That Polestar will be part of future projects with Candela by supplying an essential part for the innovative propulsion of their boats, is awesome. As a battery supplier to Candela, we can help drive the transition to cleaner oceans and lakes, and electrify waterborne transport.

Gustav Hasselskog, CEO of Candela, comments: “Polestar is a dream partner for us. While electrification of cars has come a long way in the last few years, the marine sector has fallen behind. Marrying our efficient hydrofoil technology to high-capacity batteries from Polestar means we can speed up the mass market adoption of electric boats together.”

The supply of battery and charging systems to a third party, a first for Polestar as an EV manufacturer, marks the start of a broader intended partnership between Polestar and Candela, with both companies committed to exploring further opportunities for future collaboration.

About Candela

Candela is a Swedish electric boat company whose mission is to speed up the shift to fossil fuel-free lakes and oceans. Using computer-guided hydrofoils – underwater wings that lift the hull above the surface, thereby overcoming the friction of water – Candela’s craft use up to 80% less energy at high speeds than traditional motorboats.

In addition to longer range and better performance than other electric boats, Candela’s craft have several benefits over conventional ICE boats. With minimal noise, zero wake and zero emissions, Candela’s craft combine a light environmental footprint with better passenger comfort and a thrilling drive experience.

Candela was founded in 2014 by engineer Gustav Hasselskog and introduced its first production model, Candela C-7, in 2019. With a range of 50 nautical miles at 20 knots, the C-7 set several world records for electric boats. The limited production run of 32 units ended in 2021.

In 2021, Candela launched the bigger, high-volume successor Candela C-8, which is designed to make electric boats mainstream. With space for eight passengers, it has a range of 50 nautical miles at 22 knots and a top speed of 30 knots. Powered by the Candela C-POD, an electric pod motor developed in-house by Candela’s 50-strong engineering team, it is 400% more efficient than other powerboats on the market. With more than 150 units sold to date, the C-8 is currently the best-selling electric premium boat.

In 2022, Candela is launching the Candela P-8 Voyager taxi boat and the P-12 electric ferry, which will bring the company’s revolutionary electric hydrofoil technology to commercial vessels.

About Polestar

Polestar Automotive Holding UK PLC (Nasdaq: PSNY) (“Polestar”) is a Swedish premium electric vehicle manufacturer. Founded by Volvo Car AB (publ.) (together with its subsidiaries, “Volvo Cars”) and Zhejiang Geely Holding Group Co., Ltd (“Geely”), in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.

Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. By 2023, the company plans that its cars will be available in an aggregate of30 markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA.

Polestar has produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) – the longest of any hybrid car in the world at the time.

The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 350 kW / 476 hp and 680 Nm.

From 2022, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 – the company’s first electric performance SUV which is expected to debut in October 2022. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.

In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of Polestar Precept – the manifesto concept car Polestar released in 2020 that showcases the brand’s future vision in terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030.

In March 2022, Polestar revealed its second concept car, an electric performance roadster which builds on the design, technology and sustainability ambitions laid out by Precept and showcases the brand’s vision for future sports cars. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. The concept further develops the focus on sustainability and technology, aiming towards greater circularity. Polestar confirmed in August 2022 that a version of the concept will be produced as the Polestar 6 electric performance roadster, with launch expected in 2026.