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| General Motors enters the field of electric boats |
General Motors is currently focused on promoting an inclusive and accessible future for electric vehicles. He acquired a 25% stake in Pure Watercraft, a Seattle-based startup that specializes in developing fully electric boat solutions.
Founded in 2011, Pure Watercraft is at the forefront of major ship transformation. The company offers innovative electric ship propellers to protect the air and waterways for generations to come.
The collaboration between the two companies defines a shared vision for improving sustainability by extending zero-emission mobility to future generations. It also reflects the comprehensive approach required for the widespread adoption of electric vehicles.
The Pure Watercraft system uses lithium-ion batteries to replace 40 to 50 horsepower outboard burning natural gas or diesel.
Conventional fuel-powered ships can cause environmental problems such as noise pollution, smog and water pollution, and can be clearly seen floating on the water.
Pure Watercraft system is quieter and cleaner. In 2020, overseas vehicle sales in the United States reached an all-time high.
According to the National Shipbuilders Association, it has risen for the ninth year in a row. Its value is estimated at $3.4 billion. The freight market is growing steadily. General Motors has this growing market in its sights.
The CEO hinted at GM's interest in electric charging in October, talking about the company's Ultium battery and Hydrotec fuel cell platform.
General Motors is interested in electric boats
The total value of the deal with General Motors is $150 million. Through the investments, General Motors has become a supplier of components for the Pure Watercraft Company.
I also became a co-developer of new products. Provides engineering, design and manufacturing expertise to help startups build new plants.
As Pure Watercraft grows, the new partnership is set up to help this startup overcome supply chain issues.
For GM, the investment in Pure Watercraft is another step in a series of initiatives to expand batteries and fuel cell systems beyond automobiles.
Earlier this year, the automaker announced plans to use Westinghouse Brake to develop and sell electric locomotives. It has also expressed interest in using its batteries and fuel cells in aerospace and military applications.