GM Acquires 25% Stake in Pure Watercraft to Accelerate All-Electric Boating
November 22 2021 - 12:03PM
Dow Jones News
By Michael Dabaie
General Motors said it acquired a 25% ownership stake in Pure
Watercraft, a Seattle-based company focused on all-electric boating
products.
The agreement combines GM technology with Pure Watercraft
propulsion systems to expand all-electric marine transportation,
the company said.
The collaboration will use Pure Watercraft's marine propulsion
technology and experience in the commercial marine industry and
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, GM said.
Through 2025, GM is investing $35 billion in electric and
autonomous vehicle technology, including work to improve
performance and reduce battery costs.
"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 and Electronics.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
November 22, 2021 11:48 ET (16:48 GMT)
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