Arc gets its first major order for electric tugboats worth $160M
If you’ve heard of Arc Boats, the Los Angeles startup founded in 2021 by former SpaceX employees, it’s likely because you’ve seen its sleek sport boats. But the company’s also been pushing into the far less glamorous world of tugboats, and now has its first big order worth $160 million. The company announced Wednesday it has signed a contract of that value with Curtin Maritime, a tug and barge operator. The new hybrid-electric tugs are expected to hit the waters around the Los Angeles port in 2