The auto industry is already going electric. A Swedish start-up is convinced boats are next. Stockholm-based X Shore raised €15m (R260m) from investors to scale up production of its battery-powered leisure boat to tap into the growing market for environmentally friendly luxury marine rides.

The company's Eelex 8000, an 8m vessel powered by a 120kWh battery, went on sale in the US last month, but X Shore is struggling to fill ballooning orders from its small Stockholm factory. The start-up plans to use the funding to increase production to about 400 boats a year, said CEO Jenny Keisu...

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