GM Acquires 25% Stake in Pure Watercraft, a Maker of Electric Motors for Marines | Today Nation News

TechnologyGM Acquires 25% Stake in Pure Watercraft, a Maker...

General Motors (GM) has acquired a 25% stake in Seattle-based electric boat company Pure Watercraft. GM’s move is interested in all electric vehicles, including boats and other vehicles, as part of its commitment to invest $ 35 billion in electric autonomous driving technology by 2025. It reflects the fact that it is expanding.

Pure Watercraft manufactures an all-electric outboard motor system called the Pure Outboard that can be used as a drop-in alternative to boats with 25-50 horsepower gasoline engines. In addition, in partnership with a major boat maker, it sells finished electric boats such as barges, fishing boats, and two types of rigid rubber boats.

According to Pure Watercraft, the electrical system is maintenance-free and fossil fuel-free compared to gasoline engines. The Pure Outboard also offers a nearly four-hour fishing cruise that sails 20 miles on a 15% charge, according to the company’s website.

In September 2020, the company raised $ 23 million in Series A led by L37 to start full-scale production. Nine years ago, CEO Andy Rebele founded the company. With this investment by GM, the two companies will promote joint development and commercialization of battery technology, “integrating GM’s technology into various uses,” GM said in a statement.

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This investment is the latest example of how electrical technology is beginning to move beyond road traffic vehicles and aircraft to the forms of transportation and mobility that have been dominated by traditional gasoline-powered vehicles. In October, the 10-month-old electric ship startup Arc raised a total of $ 7 million (about 800 million yen) by welcoming several new investors. Seattle startup Zin Boats is also developing an electric speedboat.

GM is already considering using its technology in other mobility industries such as rail and aerospace, and this move is noteworthy. In early 2021, GM partnered with Wabtec to develop an electric freight locomotive using hydrogen fuel and batteries. It also announced that it will jointly develop a hydrogen fuel cell demonstration system for aircraft in partnership with Liebherr-Aerospace.

Image Credit: Pure Watercraft

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(Sentence: Aria Alamalhodaei, Translation:saurabh


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