Seattle-based all-electric boating solutions provider, Pure Watercraft, has on Monday announced that General Motors has acquired a 25% ownership stake in the company.
According to the company, the collaboration between the two companies takes forward their shared vision to promote sustainability through an expansion of zero-emissions mobility for future generations and reflects the holistic approach necessary for widespread EV adoption.
In a press release, the company said that GM will be investing, through 2025, $ 35 billion in electric and autonomous vehicle technology — including work to improve performance and reduce battery costs — to become the market leader in EVs in North America.
The Pure Outboard from Pure Watercraft uses groundbreaking efficiency to benefit a boat's performance while reducing environmental pollution and boasts much lower operating costs and maintenance than traditional marine propulsion systems.
The collaboration will leverage Pure Watercraft's innovative marine propulsion technology and experience in the commercial marine industry with GM's engineering, supply chain and manufacturing capabilities. In addition, the two companies will develop and commercialise battery-electric watercraft, integrating GM technology into various applications, helping accelerate the industry's transition to electric mobility.
Andy Rebele, Founder and CEO, Pure Watercraft, said, 'This joint effort with GM is expected to enable us to make significant technological advancements in range and charging, while achieving volume production.'
'GM's stake in Pure Watercraft represents another exciting opportunity to extend our zero-emissions goal beyond automotive applications,' said Dan Nicholson, GM vice president of Global Electrification, Controls, Software & Electronics. 'Building upon GM's existing efforts to strategically deploy our technology across rail, truck and aerospace industries, the combined expertise of these two enterprises should result in future zero-emissions marine product offerings, providing consumers with more choice than before.'
NB: Photo is representational.