General Motors is testing the water in electrical boating by shopping for a 25% stake in a Seattle firm that makes battery-powered outboard motors.
The Detroit automaker stated Monday that it purchased the stake in Pure Watercraft for a enterprise that it says will develop and commercialize battery electrical watercraft.
Pure Watercraft, based in 2011, is price $600 million after the GM deal, spokesman Gabe Johnson stated. The firms aren’t disclosing the dimensions of GM’s funding, however stated it contains money and in-kind contributions.
Privately held Pure Watercraft makes an electrical outboard propulsion system powered by a lithium-ion battery. It’s designed as a drop-in alternative for any boat with a gasoline outboard motor from 25 to 50 horsepower. The company additionally works with boat producers to promote full boats, in accordance with its web site.
The two firms will mix Pure Watercraft’s marine expertise with GM’s engineering, supply chain and manufacturing capabilities, the automaker stated in a ready assertion.
“This joint effort with GM is expected to enable us to make significant technological advancements in range and charging, while achieving volume production,” Pure Watercraft founder and CEO Andy Rebele stated.
The deal provides GM a chance to make use of its electrical know-how in one other trade past automotive, stated Dan Nicholson, vice chairman of worldwide electrification. “The combined expertise of these two enterprises should result in future zero-emissions marine product offerings,” Nicholson stated.
GM already is engaged on electrification and hydrogen powered autos within the rail, truck and aerospace industries.
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GM exploring electrical boats, buys 25% stake in engine maker (2021, November 22)
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