DETROIT – General Motors announced it has gained 25% of the ownership of Pure Watercraft, a Seattle-based company that specializes in electric boating solutions.
Dan Nicholson, GM vice president of global electrification, controls, software and electronics, said the companies relationship with Pure Watercraft is a greater opportunity to extend its zero-emission goal beyond the normal automotive applications.
“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,” he said.
GM said it would be investing $35 billion in electric and autonomous vehicle technology through 2025. Costs will include work to improve performance and reduce battery costs, helping it to become the market leader in EVs in North America.
Andy Rebele, founder and CEO of Pure Watercraft, said the relationship with GM will help them advance to new boating opportunities.
“Our mission is to enable a new era in boating,” said he said. “This joint effort with GM is expected to enable us to make significant technological advancements in range and charging, while achieving volume production.”
The collaboration with Pure Watercraft will allow both companies to develop and commercialize better electric watercraft and help accelerate the industries transition to electric mobility, GM said.
Source: General Motors
Published by The Business Journal, Youngstown, Ohio.