Deutz AG signed an agreement Jan. 19, 2024, to sell its shares in Torqeedo to Yamaha Motor Co Ltd. The sale of Torqeedo’s shares were planned and announced at the Deutz Annual General Meeting held in April 2023.
Torqeedo is a market leader in developing and manufacturing advanced marine electric engines and propulsion systems.
Deutz acquired the German company in 2017 to accelerate electrification of its core segments as of agricultural machinery, construction equipment and material handling equipment.
Once the technology transfer was successfully completed, Deutz sought a “better owner” for Torqeedo to help further development of its own products, to gain access to a larger marine industry market and to get better global after-sales support. Torqeedo has 230 employees and has sold 250,000 inboard and outboard engines worldwide in 15 years. Yamaha is one of the world’s biggest outboard marine engine manufacturers.
Yamaha Motor Co will benefit from Torqeedo’s advanced know-how and expertise in the field of electric engines, outboard and inboard propulsion systems, batteries, and accessories.
Torqeedo will have a major role in development of a mid-range electric outboard engines under the Yamaha brand, aiding Yamaha’s ambition to become a global leader in the fast-growing electric boat propulsion market. Having Torqeedo’s product line in its portfolio will help Yamaha reinforce its role in the decarbonization of the marine industry.
The purchase agreement is expected to close in the first quoter of 2024. PSR
Source: Deutz. Read The Article
Source: Yamaha. Read The Article
Source: Torqeedo. Read The Article
Natasa Mulahalilovic is Marine Product Manager for Power Systems Research
