Welcome, everybody. My name is Joseph Visconti. Good morning, everyone. I am the CEO of Twin Vee PowerCats, a Nasdaq-listed company, VEEE, and I'm here with Jared Reichenberger, who's the Director of OEM Sales for Mercury Marine. We are here to announce a strategic partnership between Mercury Marine and Bahama Boats. I'd like to turn it over to Jared Reichenberger.
Joseph, thank you for having me. As you said, I am with Mercury Marine. We are a leading manufacturer of recreational marine propulsion. You know, this is an exciting time for us. There's been a lot of meetings and discussions that we've been engaging on. And we are definitely excited to roll up our sleeves and work alongside your leadership and team to help relaunch this incredible brand. We don't necessarily view this as just a regional play in the state of Florida. I think this is a great opportunity across the United States, but then also with the global reach that we're going to be able to offer and help and assist with. Bahama is a very great brand in the marketplace. They have a very loyal customer base. And that's where we see this as a great opportunity to be a part of it.
We want to help take this to the next level. I think under your leadership and the vision that you're showing, it's going to be an exciting time to see where we can take this. You know, more so, Mercury is about product. You know, the vision that Joseph has laid out in regards to future product, just truly where he's going to take the brand lines perfectly aligns with and matches our product line. Our innovation in V6, V8, V10, and V12 are great opportunities to help this brand. We really look forward to the opportunity. Joseph, I'll give it back to you. Again, thank you for engaging with us and going through this process and really look forward to it.
Thank you, Jared. Appreciate all the support. Looking forward to an exciting couple of years as we roll out all of our new products. So a brief history on Bahama Boat Works. Bahama was founded by the late great Scott Henley approximately 20 years ago. Bahama is a highly recognized and respected brand. And today, Twin Vee acquired, well, not today, but Twin Vee acquired 100% of Bahama Boat Works seven months ago. And today, Bahama is a Twin Vee company. Along with Bahama's exquisite design, its offshore performance, and its yacht-quality fit and finish, Bahama has always been a brand for the few. Now, with Mercury Marine as a partner and Twin Vee's manufacturing capabilities, together, we're going to relaunch this incredible brand with a complete model lineup from 21 ft to 41 and possibly larger as we roll forward with new Bahama models.
As you know, Twin Vee is a large-scale production boat builder. We have a new modified 100,000 sq ft facility capable of producing up to 700 units annually, depending on the model mix. Why Mercury? Mercury is the most powerful engine brand in boating, period. Mercury is backed by Brunswick, which is a New York Stock Exchange company, the gold standard. This partnership is an OEM alliance that instantly elevates the trust and demand for our products. And why does this matter? Motor packages are anywhere between 20%-35% of the total cost of a boat. I mean, a lot of times, like the first question a buyer asks is, "What is the power on the boat?" And if it's not a Mercury, many buyers stop listening. And so what's important here is Mercury doesn't just power boats.
Mercury brings buyers to the table and starts, you know, possibly new conversations with buyers. Mercury is brand dominance. They've set the standard. They look the part. They have an intimidating, iconic look. And Mercury Motors sells boats. Do you remember that Black Max 50 years ago? And Mercury has built off that early success, and they kept going. And I want to go over some investor highlights to touch on. Today, Twin Vee, Nasdaq-listed, has a total market cap of under $4 million. Twin Vee has been building and designing boats for over 30 years. We've produced over 10,000 boats globally. And today, Twin Vee has two brands under one roof. This is shared cost leverage. Two brands, one factory. This lowers cost, supports scale of economy, and cost efficiencies. We have all the infrastructure we need, including tooling.
The processes are already in place to support a multi-brand growth without duplicating capital spend. And Twin Vee now has the ownership of one of the most recognized names in the offshore center console sport boats. Twin Vee will be reintroducing the Bahama Boat brand with discipline, execution, and modern manufacturing. And I'd like to invite everyone to our official relaunch of Bahama Boats with our new propulsion partner, Mercury Marine, at the Palm Beach Boat Show on March 25th. So stay tuned at twinvee.com for updates and highlights. And thank you for joining us today. Have a good day. Thank you.