"The arrival of steel for our new manufacturing facility represents another step forward in our plan to expand our operations and contribute to the local community," said Executive Chairman Joseph Visconti, who added, "This facility will not only enable us to build and deliver state-of-the-art electric boats across the country but also serve as a foundation for job creation and community development in McDowell County."
Once the state-of-the-art factory is fully operational, the Company plans to integrate cutting-edge closed-molded composite boat-building techniques and electric motor assembly processes. This integration aligns with Forza X1's dedication to creating, engineering, and producing electric boats that are inspiring and operate with a strong focus on sustainability and eco-friendliness. Additionally, the Company expects to invest over $10.5 million in land, buildings, fixtures, infrastructure, and equipment and create as many as 170 jobs in McDowell County, North Carolina.
FRZA shares moved upward two cents, or 2.8%, to 63 cents.
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