Summary
- Canada imposing a 100% tariff on EVs from China, reflecting global production and adoption of EVs
- Tesla’s diverse manufacturing approach helps navigate trade policies globally
- Peloton showing signs of growth, but facing challenges with declining memberships
- Brunswick Corporation’s CEO discusses the company’s subscription boating service and marine technology
- Brunswick is focusing on autonomous features and electrification in the marine industry, facing challenges in marine electrification due to technology limitations
Article
In a recent podcast episode, Motley Fool analyst Asit Sharma and host Dylan Lewis discuss several key topics in the transportation industry. They start by talking about Canada’s tariffs on electric vehicles from China, highlighting the global production and adoption of EVs. They also delve into Tesla’s diversified approach to manufacturing, which has proven beneficial amid changing trade policies in various countries. Additionally, they touch upon Peloton’s return to growth, albeit modest.
The conversation then shifts to an interview with David Foulkes, the CEO of Brunswick Corporation, a major player in the marine industry. They discuss the company’s subscription boating service, Freedom Boat Club, and the latest advancements in marine technology. Foulkes explains the success of the subscription service and how it has expanded globally. He also addresses the challenges of navigating the cyclical nature of the boating industry and the company’s strategies for resilience during economic downturns.
Foulkes also sheds light on Brunswick’s focus on technological innovation, particularly in the realm of autonomy and electric power in marine vehicles. The company is working on autonomous features for boats, such as station-keeping and autopilot capabilities. They are also developing self-docking boats to assist in stressful boating situations like docking. Foulkes emphasizes the importance of testing autonomy features in both real and simulated environments to ensure safety and robustness.
In terms of marine electrification, Foulkes acknowledges the progress made in electric power for smaller boats on restricted waterways in Europe. Brunswick has introduced a range of electric outboard models for these applications. However, he notes that the technology for larger boats and core boat market segments has yet to reach a level that can match the performance and range of conventionally powered vehicles. The company continues to work on increasing power and reducing costs for electric products.
Overall, Brunswick Corporation is focused on advancing in autonomy, electrification, connectivity, and shared access in the marine industry, following their ACES strategy. Despite challenges in the industry, the company’s portfolio diversification and emphasis on recurring revenue streams like the Freedom Boat Club and aftermarket parts sales have made them more resilient to economic cycles. As the CEO, Foulkes remains optimistic about the future of Brunswick and the role of technology in shaping the marine recreation sector.
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