CRAFT
X Shore 1 Bowrider is the name of the Swedish electric boat builder’s latest creation, designed for sunny days. At the same time, there are still dark clouds over the company’s financial situation.
The company, founded in 2016 by the serial entrepreneur Konrad Bergström, has developed an even more open variant of the smallest electric boat X Shore 1, which has received the extension Bowrider. The difference compared to the existing Open model is mainly that the Bowrider lacks a ruff in the bow.
Otherwise, the specifications are the same: 6.5 meters long, range of 50 nautical miles, maximum speed of 30 knots and an electric motor of 125 kW.
Just like for the X Shore 1 Open, the company expects to be able to deliver the Bowrider that is ordered now in April next year, according to the product configurator on the website. The price tag for the Bowrider is listed at €129,000, which is €4,900 less than the Open.
Pressed economy
X Shore is going through a financially challenging period. The company needs to raise more capital in 2025 in order to survive, the company writes in its latest annual report.
Vd René Hansen however, pleads for DI that the company’s need for capital is fully in accordance with the business plan, which extends to 2026.
SEK 100 million was raised last spring, but at a valuation of the company that was 60 percent lower than the previous capital round, Dagens Industri reported.
Loss over a quarter of a billion
The turnover last year was a modest SEK 18 million, compared to SEK 73.6 million in 2022. The loss increased from SEK 215.7 million in 2022 to SEK 275.5 million in 2023. During the summer of 2023, X Shore had to buy back 18 examples of the larger electric boat Eelex 8000 due to problems with the cooling system.
Source: www.nyteknik.se
