SHOREHAM-BY-SEA, England, May 26, 2020 /PRNewswire/ -- Cox Powertrain, a leading British developer of high-powered diesel outboard engines for the global marine industry is pleased to announce that production of the CXO300, its purpose-designed 300hp diesel outboard engine, has commenced. After several years of intensive development and testing, this represents a major milestone for Cox as well as a defining moment for the marine industry. This UK-designed and manufactured high-technology product will be sold to the global market, supporting UK exports. The Company will manufacture just under 1,000 outboards in 2020 with volumes expected to more than double the following year.
Throughout its development, COX's high-powered diesel outboard engine generated substantial interest across all applications of the marine industry, a contributing factor for the Company when raising the £92m (US$115m) of private investment to date required to reach this point. This is a powerful testament to the credibility of the engine concept and the high level of expertise behind its development.
Tim Routsis, Chief Executive of Cox said:
"This is a milestone we have been working towards for several years with a relentless focus on building a no-compromises business. I am enormously proud of the CXO300 and the terrific team who have worked tirelessly to make it a reality. We owe a debt of gratitude to the supply chain who have found ways to keep parts flowing to us despite Covid-19, and also to our global distributors who have remained loyal throughout. I am delighted that we can now manufacture this ground-breaking marine engine in volume and together with the very encouraging feedback and support we've received, I am excited and confident about Cox's future prospects."
Charles Good, Chairman of Cox said:
"This brings to fruition a long-held ambition of mine to create a UK based business to design and manufacture diesel outboard engines to meet a major unfulfilled need in the global marine propulsion market. I am immensely proud of the team in achieving this significant milestone as we launch a truly global British brand underpinned by world-class engineering."
Growing order book underpinned by innovative engineering technology
Growing distribution network in a large addressable market
1 ICOMIA 2017 Report (US and Europe)
TB Cardew (media)
Shan Shan Willenbrock
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About Cox Powertrain
Based on the South Coast of England, Cox Powertrain is a leading British design and engineering innovator of diesel engines developed for marine applications globally.
From the outset Cox Powertrain was backed by its Chairman, Charles Good, to exploit the global market opportunity he had identified through the development of a revolutionary diesel outboard engines.
Cox Powertrain has built up a strong and supportive shareholder base of private and institutional investors. As a result, the Company has been able to implement its long-term development programme of ground-breaking new products.
Led by ex-Cosworth CEO, Tim Routsis, whose background lies in engine development in global automotive, aerospace and marine markets, the Company's mission is to deliver a completely new concept in diesel engines that has the potential to revolutionise the marine market.
With a strong pedigree in Formula 1 racing and premium automotive design, Cox's highly skilled team of engineers has decades of experience in combustion engines and understand the many challenges customers face.
Cox's diesel outboard, the CXO300, is the most powerful lightweight diesel outboard engine ever developed and delivers the performance and packaging of a gasoline outboard with the fuel efficiency and reliability of a diesel inboard.
Cox is supported by a worldwide distributor network made up of 35 distributors covering 100 countries.
For further information, visit www.coxmarine.com