General Motors Co (NYSE: GM) has acquired a 25% ownership stake in Pure Watercraft, a Seattle-based all-electric boating solutions company. The financial terms were not disclosed. The agreement combines GM technology with Pure Watercraft propulsion systems to expand all-electric marine transportation.
- “GM’s stake in Pure Watercraft represents another exciting opportunity to extend our zero-emissions goal beyond automotive applications,” said Dan Nicholson, GM’s VP of Global Electrification, Controls, Software and Electronics.
- The collaboration will leverage Pure Watercraft’s marine propulsion technology with GM’s engineering, supply chain, and manufacturing capabilities.
- Through 2025, GM has pledged to invest $35 billion in electric and autonomous vehicle technology, including work to improve performance and reduce battery costs.
- Price Action: GM shares are trading higher by 4.77% at $64.74 on the last check Monday.
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