Vision Marine Inks Joint Development Agreement With Weismann Marine - Vision Marine (NASDAQ:VMAR)

Vision Marine Technologies Inc VMAR has signed a joint development agreement with Weismann Marine LLC to design and develop a lower unit assembly for its E-Motion 180 HP outboard propulsion system. The financial terms were not disclosed.
The parties intend to design an operational prototype for a lower unit designated "MK5", which will reduce power loss through the gear system, reduce hydrodynamic drag, and mitigate operational gear noise.
Weismann Marine will design, develop, procure materials, and produce lower unit prototypes for testing and evaluation.
The lower unit assembly, when completed, will be incorporated into the E-Motion powertrain through the agreement announced October 2021 with Linamar Corp LIMAF subsidiary McLaren Engineering.
Price Action: VMAR shares are trading higher by 17.2% at $5.45 on the last check Friday.