The collaboration between GM and Pure Watercraft advances a
shared vision to promote sustainability through an expansion of zero-emissions
mobility for future generations and reflects the holistic approach necessary
for widespread EV adoption.
“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 & Electronics. “Building upon GM’s existing efforts to
strategically deploy our technology across rail, truck and aerospace
industries, the combined expertise of these two enterprises should result in
future zero-emissions marine product offerings, providing consumers with more
choice than before.”
Through 2025, GM is investing $35 billion in electric and
autonomous vehicle technology — including work to improve performance and
reduce battery costs — to become the market leader in EVs in North America.
The Pure Outboard from Pure Watercraft uses groundbreaking
efficiency to benefit a boat’s performance while reducing environmental
pollution, and boasts much lower operating cost and maintenance than
traditional marine propulsion systems.
“Our mission is to enable a new era in boating,” said Andy
Rebele, founder and CEO of Pure Watercraft. “This joint effort with GM is
expected to enable us to make significant technological advancements in range
and charging, while achieving volume production.”
The collaboration will leverage Pure Watercraft’s innovative
marine propulsion technology and experience in the commercial marine industry
with 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, helping to accelerate
the industry’s transition to electric mobility.
Specific product offerings that occur from the collaboration
will be disclosed at a later date.
Barclays acted as Exclusive Financial Advisor to Pure Watercraft
on the transaction.
General Motors, a global company focused on advancing an
all-electric future that is inclusive and accessible to all. At the heart of
this strategy is the Ultium battery platform, which will power everything from
mass-market to high-performance vehicles. General Motors, its subsidiaries and
its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac,
Baojun and Wuling brands.
Pure Watercraft, leading a fundamental transformation of
boating. Founded in 2011 in Seattle, Washington, the company delivers
innovative electric marine propulsion that preserves the air and waterways for
future generations.