According to the latest information, General Motors said on Monday local time that it had acquired a 25% stake in Pure Watercraft, a marine electric motor production company, as part of its “full effort to promote electrification” strategy.
This will make a great deal on its portfolio, Pure Watercraft said that General Motors will provide a combination of US$150 million in cash and in-kind payments in exchange for a 25% stake in the company.
Pure Watercraft is headquartered in Seattle and was established in 2011. It produces electric motors for ships powered by lithium-ion batteries and uses a plug-and-play design mechanism that allows any hull to use its motors.
Dan Nicholson, vice president of GM’s global electrification division, said in a statement: “Building on GM’s existing rail, truck, and aerospace industry deployment technologies, the combined expertise of the two companies It should bring zero-emission products in the future.” General Motors said that it will disclose the zero-emission products developed in cooperation with Pure Watercraft at a later date.