Yamaha Motor acquires Torqeedo
Yamaha Motor has announced it’s recently concluded a stock purchase agreement with Germany’s DEUTZ AG, which owns marine electric propulsion manufacturer Torqeedo, to acquire all of Torqeedo’s shares. This stock acquisition is premised on the acquisition of the clearances, permits, etc., required by competition laws and other regulations.
With this, Yamaha is aiming to become a leader in the growing market for electric boat propulsion.
Yamaha says it’s acquired Torqeedo to strengthen its 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 support and accelerate Yamaha’s efforts for achieving carbon neutrality in the marine industry as well as aid in fast-tracking the establishment of a small electric propulsion line-up.
Torqeedo offers a wide-ranging line of products, from electric outboard and inboard marine engines to batteries and various other accessories. With sales in the small electric marine engine market on the rise, mainly in Europe, Torqeedo continues to grow as a company. It also holds many patents related to electric marine engines, propellers, and electric systems, as well as the R&D capabilities, mass-production equipment, and development resources for next-generation environmental technologies.
Yamaha hopes that combining Torqeedo’s assets with its technical expertise and know-how in hull design, marine engines, and more, will birth synergies for creating mid-range electric outboard marine engines.
Yamaha also recently announced it was unveiling a prototype hydrogen-powered outboard motor at the Miami International Boat Show 2024.
Torqeedo updated its original Travel range of electric motors, first launched in 2005, in November 2023. It says it has sold more than 250,000 Torqeedo drive systems to date, and 100,000 of these are Travel motors. The DAME Design Award-nominated Travel XP, a 1,600W direct-drive engine, is the range’s new flagship. And in July last year, it offered boat owners the opportunity to exchange their old combustion engines for Travel series electric outboards with a cashback incentive of €300.
