GM General Motors Company

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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