(New York) The American automaker General Motors (GM) announced Monday that it had acquired a 25% stake in the start-up developing electric motors for boats Pure Watercraft, valued at $ 600 million by the operation.
GM’s investment is therefore equivalent to $ 150 million, shared between direct capital and services provided by the automaker such as access to its production tools or its engineering expertise, said a spokesperson. The group does not disclose in what proportions the amounts are shared, he added.
PURE WATERCRAFT PHOTO
A Pure Watercraft electric motor.
Founded in 2011 by Andy Rebele and based in Seattle, on the west coast of the United States, Pure Watercraft offers electric motors for installation on boats in place of the usual outboard motors, starting at US $ 16,500, as well. than its own small motorboats, starting at US $ 29,000.
For GM, the merger between the two companies “represents an exciting new opportunity to extend (its) zero emission goal beyond automotive applications,” commented Dan Nicholson, head of electrification of the group’s activities, quoted in the press release. .
The Detroit group, which has planned in total to invest $ 35 billion in electric and autonomous transport by 2025, has indeed already forged partnerships with rail, road transport and aeronautical companies to develop all-electric propulsion solutions.
The agreement will allow Pure Watercraft to make “significant technological advances in terms of autonomy and recharging while increasing production volumes,” said Andy Rebele.