The Arc One is a futuristic electric speedboat that can hit 40 mph

It will cost $300,000 when deliveries begin later this year.

The transition to electric automobiles has reached a fever pitch, but there’s been much less attention placed on electrifying other motor-powered vehicles. A new company founded by former SpaceX engineers is looking to enter the fledgling market for electric boats with a $300,000 pleasure craft that offers many of the same benefits of electric cars.

The company, Arc, has raised $4.25 million to build its first 425-horsepower electric speedboat. Called the Arc One, top speeds are supposed to reach 40 miles per hour, with operating time ranging from three to five hours on the boat’s 200 kWh battery. The 24-foot boat can seat up to ten people.

The average speedboat today could run you as little as $20,000, so the Arc One ain’t cheap. Interested buyers can reserve the boat by putting down a refundable $1,000 deposit.

Quiet cruising — Arc says that the Arc One is the “next generation of boats.” Thanks to its aluminum body and “whisper quiet” electric motor, the boat will offer fast accelerations times while eliminating noise, so you won’t have to yell to hear your fellow passengers as you whisk through the water. That would certainly be nice, boats can be quite loud after all.

Research has also shown that loud noise from boats can harm ocean life, so there’s certainly an environmental benefit to electrifying boats beyond the obvious of eliminating CO2 pollution.

Business Insider reports that Arc’s co-founder Ryan Cook spent seven years working as an engineer at SpaceX, the rocket company founded by Elon Musk. The Arc One’s lead engineer meanwhile worked at SpaceX for six years — the rest of the team worked at the rocket company, too, save for its CEO who is the only employee who hasn’t worked there.

Sleek design — The design of the Arc One itself gives you real SpaceX vibes with its clean lines reminiscent of the sleek designs from that company. It also brings to mind boats with simplistic designs from the 50s and 60s, like the Chris Craft or something from Boesch. There’s a certain charm to it, though some people might feel it’s not classy or timeless enough.

Either way, what’s the reason to gripe about design choices when most of us will never be able to afford the Arc One anyway?

Someday prices will inevitably come down and the rest of us, too, won’t have to suffer from loud boats any longer.