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. Continue reading