General Motors is entering the electric boat business. Instead, like an American giant he pushes President Joe Biden’s plan to speed up the roll-out of electric vehicles, GM has also been quietly working on building a car. flight, train, and delivery vehicles – both are powered by its own batteries and hydrogen fuel technologies.
At most GM-powered electric vehicles, you can get a ride or ride on one of the new electric boats. The company recently announced that bought 25 percent in Pure Watercraft, a Seattle startup that makes batteries powered by boat batteries. As part of the contract, GM will provide Pure Watercraft and its components at a lower cost similar to its internal components and assist Pure Watercraft to develop its own manufacturing facilities. After GM funds, which amount to $ 150 million in revenue and revenue, Pure Watercraft is worth $ 600 million.
The companies have not shared what they can do together, but the team is building GM’s Forward Marine First, the company’s electric motor boat for the first time. appeared for the first time at the Miami International Boat Show in 2019, they will enter into a partnership.
“Boating has already benefited from advances in automotive technology,” Andy Rebele, chief of Pure Watercraft, told Recode. “They have been using automotive engines and automotive technology in boats for many years, and this is a reflection of what is happening in the era of electric vehicles.”
The entry of GM into the electronics industry is a sign that the company is important “the future of all electronics. ” That commitment involves investing at least $ 35 billion to release 30 types of EV worldwide by 2025 – 20 of those cars can be found in the United States. GM went ahead this year with the announcement will eliminate all gas and diesel-powered vehicles by 2035 making its operations non-carbon by 2040. Now the company is rushing to produce the tools and industries needed to achieve that goal.
The key to GM dreaming technology is Ultium lithium-ion cell battery technology, which will be integrated into various vehicles. Mu partnership with LG, company is spending billions to make two products plants for batteries in Ohio and Tennessee, which will be completed in 2022 and 2023, respectively. Even more battery industry can follow in the coming years. GM also entered into a purchase agreement with semiconductor manufacturer Wolfspeed earlier this fall to protect computer chips that are in particular. designed for EVs. And last week, GM welcomed President Biden at its grand opening a $ 2.2 billion electric car factory, Factory Zero. GMC Hummer electric cars and Chevy Silverado cars will be among the first to be manufactured there.
“That’s why electric cars always cost more than they do with an internal combustion engine and battery,” Karl Brauer, a senior analyst at the automotive search engine page, iSeeCars.com, told Recode. “Improving everything related to batteries – manufacturing and cost – is the most important thing a car company can do around the world go to electric vehicles.”
As the company expanded into its EV production, it also made plans to be able to be reintroduced on a new basis. In particular, GM has invested heavily in its Hydrotec hydrogen fuel cell technology, which utilize hydrogen and carbon dioxide to generate electricity. (Unlike batteries, which store electricity directly, these fuel cells store hydrogen which is converted into electricity). The company has already acquired a number of customers for this technology, including car company Navistar, aerospace manufacturer Liebherr-Skyline, and Wabtec cargo rail manufacturer, which uses Hydrotec fuel cells as well as GM’s Ultium batteries.
GM’s path to the future of all electronics will not be easy. GM is competing with a global automaker to take its share of the EV market, and there have been mistakes in the past. Earlier this year, the company recalled everything 141,000 Chevy Bolt electric vehicles has been made since 2017 due to a battery-related fire accident. In the meantime, the new invention of the electric car attracts a lot of attention and money. Rivian electric car manufacturer and Lucid electric car manufacturer have competing or raising a price target of Ford, GM, and Stellantis, owned by Chrysler, Dodge, and Jeep. Tesla is no longer showing signs of slowing down. The company planning to complete the new Gigafactory, a car dealership, in Texas this year, and recently has a trillion dollar company.
Many other companies are developing their niche in the electric car industry. Beyond Pure Watercraft, the electric boat pilot unit also includes arc launchers, which are building a $ 300,000 24-foot boat and maximum speed of 40 miles per hour. Electric car electronics are in a number of companies, including Chinese car manufacturers COUNTRY OF ORIGIN and Geely as well Tesla. There are also founders who make electric taxis, some of which are independent. The company from Palo Alto of Kitty Hawk is planning to launch its first aircraft inside the next few months with CEO Sebastian Thrun as the first rider. Other companies are also growing electric tractors.
But GM can be profitable. Biden often supports affiliated car companies, and also thanks GM CEO Mary Barra for promoting “all car companies.” The White House no longer has a very good relationship with Tesla, which they have no contract and he was not invited to the August White House meeting on electric cars. At the same time, Biden’s Build Back Better investment, among other things, could provide additional tax revenue for electric vehicles built in the US and made by consortium companies – which are exactly what GM is trying to do.
And then there is the fact that GM is a hundred year old automaker that is manufactured more than half a billion cars on his corporate life. The same could be as difficult as GM’s competition to integrate not only its vehicles, but the many modes of transport, to its future electronics.
The article was first published in the newspaper Recode. Sign in here so don’t miss the next one!