Polestar and Candela have reached an agreement to transform the boating industry into the electric age.

The collaboration will advance batteries and charging systems in automotive and marine industries.

The move makes sense for Candela, which produces 80% less energy-consuming hydrofoils than conventional watercraft.

Candela's agreement with Polestar's battery suppliers CATL and LG Chem should benefit Candela.

A multibillion dollar agreement was signed in 2019 between Polestar and both companies.

Global automotive suppliers CATL and LG Chem both produce lithium-ion batteries.

E-boats became mainstream when Candela's Candela C-8 was launched in 2021.

This watercraft can reach speeds as high as 34.5 knots (82.5 kph) and 22 knots (25 mph/40.7 kph).

A new taxi boat and electric ferry will be launched by the company this year to commercialize hydrofoils.

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