Yamaha takes control of Torqeedo
19 January 2024
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%.
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
POWER SOURCING GUIDE
The trusted reference and buyer’s guide for 83 years
The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.