[Ch-EV-y]

General Motors has agreed to invest $150 million in Pure Watercraft, an electric boating startup that builds electric outboard motors. In exchange GM will be getting 25% stake in the company.

The deal seems to be similar to the one GM made with Lordstown Motors where GM “will become a supplier of components to Pure Watercraft, a co-developer of new products, and will provide engineering, design and manufacturing expertise to help [Pure Watercraft] establish new factories.”

GM backs electric boat startup in $150 million deal

Seattle-based startup Pure Watercraft gets a big boost

www.theverge.com