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GM acquires 25% stake in electric boat company Pure Watercraft

Pure Watercraft, a Seattle- based electric watercraft business, has received 25 interests from General Motors. GM’s decision shows a growing interest in all things electric, including boats and other vehicles, and is part of the automaker’s$ 35 billion plan to invest in electric and independent technology by 2025.

Pure Watercraft produces Pure Outboard all-electric outboard motor systems that can be used as a drop-in replacement for boats with a 25 to 50 power gas-powered motor. In addition, the company has formed partnerships with major boat manufacturers to market complete electric boats, which include a pontoon barge, a fishing boat, and two rigid inflatable boats. In comparison to gas engines, Pure Watercraft claims that its electric systems demand no maintenance and emit no discharges. The range is also likely to fit a wide range of consumer needs — according to the company’s website, Pure Outboard could handle a nearly four-hour, 20- afar fishing trip with 15 charges left over.
Last September, the company entered a$ 23 million Series A lead by L37 to start production, nine years after CEO Andy Rebele launched the company. With this latest investment from GM, the two businesses will unite on battery technology development and commercialization,” integrating GM technology into several operations,” according to the manufacturer. This is only the latest suggestion that electric technologies are beginning to make raids into transportation and mobility orders that have heretofore been dominated by traditional gas machines. Arc, an electric watercraft company founded ten months ago, has raised$ 7 million in total finance, including three new investors last month. Zin Boats, a Seattle- grounded establishment, is also working on an electric speedboat.
It’s also a significant move for GM, which is already looking into ways to apply its expertise to other industries like rail and aircraft.



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