General Motors (NYSE: GM) announced today it has acquired a 25% ownership stake in Pure Watercraft, a Seattle-based company that specializes in all-electric boating. The collaboration between GM and Pure Watercraft “advances a 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,” GM said in a release.
The so-called Pure Outboard from Pure Watercraft uses efficiency to benefit a boat’s performance while reducing environmental pollution with a much lower operating costs and maintenance than traditional marine propulsion systems, it’s claimed. An open issue with EV technology remains the thus far unexplored anti-trust implications as giant global automakers and battery companies appear to be well on the way to owning and controlling electric mobility.
“Our mission is to enable a new era in boating,” said Andy Rebele, founder and CEO of Pure Watercraft. “This joint effort with GM is expected to enable us to make significant technological advancements in range and charging, while achieving volume production.”
GM said, “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. The two companies will develop and commercialize battery electric watercraft, integrating GM technology into a variety of applications, helping to accelerate the industry’s transition to electric mobility.”
Through 2025, GM is investing $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, perhaps elsewhere.