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Yamaha Motor Acquires Torqeedo

Torqeedo

Yamaha Motor has today announced that it has finalized a stock purchase deal with DEUTZ AG of Germany, the parent company of Torqeedo, a

Yamaha Motor has today announced that it has finalized a stock purchase deal with DEUTZ AG of Germany, the parent company of Torqeedo, a manufacturer of marine electric propulsion. Yamaha is set to acquire all the shares of Torqeedo, with the completion of this stock acquisition contingent upon obtaining necessary clearances and permits as mandated by competition laws and regulations.

Torqeedo, a pioneer in the field of electric marine propulsion, offers a wide-ranging lineup of products, from electric outboard and inboard motors to batteries and various other accessories. With sales in the small electric motor market on the rise, mainly in Europe, Torqeedo continues to grow as a company. It also holds many patents related to electric motors, propellers, and electric systems, as well as the R&D capabilities, mass-production equipment, and development resources for next-generation environmental technologies.

Yamaha Motor’s aim in acquiring Torqeedo is to strengthen the Company’s development capabilities in the Electric field of its Marine CASE Strategy, which outlines the general direction for the Marine Products business in the current Medium-Term Management Plan. This acquisition is also meant to accelerate the Company’s efforts for achieving carbon neutrality in the marine industry as well as aid in fast-tracking the establishment of a small electric propulsion lineup. Furthermore, by combining Torqeedo’s assets with Yamaha Motor’s decades of technical expertise and know-how in hull design, marine engines, and more will birth synergies for creating mid-range electric outboard motors as the Company aims to become a leader in the growing market for electric boat propulsion.

By implementing its Marine CASE Strategy, Yamaha Motor will deliver attractive products and services with high added value to its customers and strive to achieve its Marine Long-Term Vision of being a business further increasing the value of the ocean by providing customers with a reliable and rich marine life.

Torqeedo Travel XP electric outboard motor

SOURCE: Yamaha

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