Pure Watercraft

Pure Watercraft Overview

Company Headquarters: Seattle, United States

Founded: 2011

Workforce: ~30

Company Working: Pure Watercraft is a leading electric boat manufacturer in America, involved in developing and manufacturing electric outboard motors and complete electric boats. The company is focused on engineering and tech-enabled marine solutions to bring the future of boating closer. Pure Watercraft is pioneering the electric boat transition in the United States and is one of the fastest-growing marine markets in the world. It is the leading manufacturer of electric outboard motors in the United States and is amongst the top three in the complete electric boat market. The company operates across the United States, Canada, and Europe with a network of 25 subsidiaries, 5 associate companies, 2 joint ventures, and 1 joint operation. Pure Watercraft Group is present in over 50 countries across the world.

Strategy

Pure Watercraft is strategically working to achieve economic stability and pursue progress in the electric boat market. It will focus on developing innovative products that meet customers' needs, increasing independence and control over core technologies, launching high-quality boats that meet or exceed customer expectations, and achieving cost leadership by reducing costs throughout its supply chain and developing efficient manufacturing processes.

Company Snapshot

30

Employees

2011

Founded

Seattle, United States

Headquarters

SWOT Analysis

Strengths

High-performance electric propulsion technology
Strong focus on sustainability and environmental impact

Weaknesses

Limited product lineup and variety
Higher initial cost compared to traditional boats

Opportunities

Growing demand for eco-friendly watercraft
Expansion into new international markets

Threats

Intense competition from established boat manufacturers
Technological advancements by competitors

Key Developments

Date	Approach	Development
November 2022	Acquisition	General Motors (GM) acquired a 25% stake in Pure Watercraft, a Seattle-based electric boat startup. The deal valued Pure Watercraft at $600 million.
January 2022	Product Launch	Pure Watercraft launched its new all-electric pontoon boat at CES 2022. The boat, called the Pure Pontoon Boat, is powered by a GM-sourced battery pack and single or twin Pure Outboard motors. It can accommodate up to 10 passengers and has a cruising range of up to 60 miles.
January 2021	Acquisition	Pure Watercraft acquired ELUX Marine, just two days after closing a Series A financing round of $37.5 million. The acquisition was a strategic move for Pure Watercraft, as it allows them to expand their product offerings and reach a new customer base. ELUX Marine is a leading manufacturer of electric pontoon boats, and their products are popular in the Upper Midwest. By acquiring ELUX Marine, Pure Watercraft is now well-positioned to capture a larger share of the growing electric boating market.

Product Offering

Pure Watercraft
- Electric Boats

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