Tue. Dec 7th, 2021

General Motors is entering the electric boat business. Actually as the American auto giant Pushes With President Joe Biden’s splashing and ambitious plans to accelerate the rollout of electric vehicles, GMOs are quietly working to build electric vehicles. Plane, The train, And Delivery truck – All powered by own battery and hydrogen fuel cell technology

Within the wide range of electric vehicles employed at GM, you may actually have the opportunity to sail or ride one of the new electric boats. The company has recently announced this Purchased 25 percent stake in Pure Watercraft, A Seattle-based startup that makes battery-powered outboard motors for boats. As part of the agreement, GM will supply components to Pure Watercraft at a discounted rate, similar to its internal division, and will help Pure Watercraft build its production network. After GM’s investment of $ 150 million in cash and in-kind investment, Pure Watercraft is valued at $ 600 million.

The companies have not shared a specific product they will work on together, but the team is building an electric pontoon boat, GM’s Forward Marine First. Debuted at the Miami International Boat Show In 2019, will join the collaboration.

“Boating has historically benefited from advances in automotive technology,” Andy Rebelle, CEO of Pure Watercraft, told Recode. “They have been using automotive engines and automotive technology in boats for many, many years and this is a tangible symbol of what is happening in the age of electric vehicles.”

GM’s dive into the electric boating industry is a sign that the company is “All electrical futures“That commitment includes investing At least 35 billion Will release 30 EV models worldwide by 2025 – 20 of them are vehicles Will be available in the United States. GM has announced this one step further this year It will shut down all its gas- and diesel-powered vehicles by 2035 And will make its activities carbon neutral by 2040. Now the company is running to build the equipment and factory needed to meet that goal.

The key to GM’s electric dream is the ultium lithium-ion cell battery technology, which will be incorporated into a wide range of vehicles. Inside Partnership with LG, Company Billions upon billions are being spent on manufacturing two Plants For the battery in Ohio And Tennessee, Which will be completed in 2022 and 2023, respectively. Even more battery factories Could follow In the coming years. GM entered into a strategic supplier agreement with semiconductor maker Wolfspeed earlier this fall to specifically protect computer chips. Designed for EV. And just last week, GM hosted President Biden’s gorgeous inauguration Renovated 2.2 Billion Electric Vehicle Assembly Plant, Factory Zero. The electric GMC Hummer pickup and Chevy Silverrado trucks will be the first vehicles built there.

“Because the electric car always consumes more battery than the equivalent internal combustion engine car, the battery is,” Carl Brower, an executive analyst at the automated search engine website iSeeCars.com, told Recode. “Controlling everything about batteries – production and cost – is probably the most efficient thing in the world that a car company can do toward electric vehicles.”

Since the company has doubled its EV production capacity, it has also designed components so that they can be recovered for other types of transportation. In particular, GM has invested heavily in Hydrotec Hydrogen fuel cell technology, Which uses hydrogen and oxygen from the air to generate electricity. (Unlike batteries, which store electricity directly, these fuel cells store hydrogen which is then converted into electricity). The company has already found several customers for this technology, including Truck company Navistar, Aerospace equipment manufacturer Liebherr-Aerospace, And Freight Rail Manufacturer Wabtec, Which is using Hydrotech fuel cells as well as GM’s Ultium battery.

GM’s path to an all-electric future will not be easy. GM is basically competing with every legacy automaker in the world to increase its share in the EV market and has already made some mistakes. Earlier this year, the company withdrew all 141,000 electric Chevy Bolt electric cars It has been in production since 2017 due to a battery-related fire hazard. Meanwhile, new electric vehicle startups are attracting a lot of attention and investment Includes electric truck-maker Rivian and luxury electric car maker Lucid Competitors or even stock price valuations are at the top Ford, GM, and Stellantis, who own Chrysler, Dodge, and Zip. Tesla is also showing no signs of slowing down. Company There are plans to complete a new gigafactory, An electric vehicle manufacturing plant, in Texas this year, and it has recently become A trillion dollar company.

Many other companies are building their own space in the electric vehicle industry. Beyond Pure Watercraft also has a startup called Arc in the electric boating sector, which is building a ,000 300,000 24-foot boat. Maximum speed 40 miles per hour. Electric semi-trucks are operating in several companies, including a Chinese auto manufacturer The world And Jelly As well as Tesla. There are also startups developing electric air taxis, some of which will be autonomous. Palo Alto-based company Kitty Hawk plans to launch their first flight The next few months Its CEO as Sebastian Thrun’s first passenger. Some companies are even developing Electric tractor.

But GM can be an advantage. Biden has often advocated for union-backed car companies and credited GM CEO Mary Barra for electrifying the “whole automobile industry.” The White House does not have the best relationship with Tesla, either There is no union And Not invited August White House Summit on Electric Vehicles. At the same time, Biden’s Build Back Better Cost Package will, among other things, provide additional tax credits on electric cars made in the United States and manufactured by unions – which What exactly is GM trying to do.

And then there’s the fact that GM is a century-old automaker that has been created More than half a billion vehicles Over its corporate lifetime. That experience could be important because GM races can integrate not only its cars, but also various modes of transportation with its electrical future.

This story was first published in the Recode newsletter. Register here So don’t miss the next one!

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