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Yamaha takes control of Torqeedo
19 January 2024
Travel XP electric outboard motor (Photo: Torqeedo, Yamaha)
Yamaha has reported that it has concluded a stock purchase agreement with Deutz for the German company’s Torqeedo division. Financial details covering the deal were not released.
Bought by Deutz in 2017, Torqeedo is a specialist developer/manufacturer of electric marine power systems. The product portfolio ranges from electric inboard and outboard motors, through to pod drives, batteries and other accessories.
The company also holds a series of patents related to electric motors, propellers and electrical systems.
In a related statement, Yamaha noted that acquiring Torqeedo will strengthen the company’s development capabilities in its Marine Case Strategy, which outlines the direction of the Marine Products business.
Leveraging Torqeedo’s R&D capability, it is also expected that the deal will fast-track Yamaha’s carbon-neutrality goals through establishment of an electric propulsion range.
For its part, a representative of Deutz commented in an interview with Power Progress International that Torqeedo had effectively served its purpose as a knowledge transfer source, which supported Deutz as it moved to develop a series of high-voltage electrical products.
Torqeedo has enjoyed some considerable success as part of Deutz. In April 2023, the company reported a year-on-year sales increase of 42.9%.
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