GM Acquires Ownership Stake in Pure Watercraft

General Motors announced it has acquired a 25% ownership stake in Pure Watercraft, a Seattle-based company that specializes in creating all-electric boating solutions. 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.

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 costs and maintenance than traditional marine propulsion systems.

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.