Yamaha Motor completes Torqeedo acquisition to boost marine electrification

Yamaha Motor Co., Ltd. has successfully completed the acquisition of Torqeedo GmbH, a leader in electric marine mobility, from DEUTZ AG, one of the world’s leading manufacturers of innovative drive systems headquartered in Cologne, Germany.

In 2017, DEUTZ acquired electric boat drive specialist Torqeedo to expedite its electrification strategy for key sectors like construction, agriculture, and material handling, while reinforcing Torqeedo’s leading position in electric water transport. DEUTZ has since broadened its electric drive system offerings. The sale of Torqeedo to Yamaha Motor Co., Ltd., for a high double-digit million euro figure, is expected to yield a low double-digit million euro book gain in DEUTZ’s 2024 financials.

This transaction aligns with DEUTZ’s Dual+ strategy, aimed at establishing a profitable green ecosystem, including hydrogen-powered engines and battery-electric products, and positioning DEUTZ among the top three independent drive manufacturers by 2030 while achieving climate neutrality by 2050.

Torqeedo has almost two decades of knowledge experience and more than 250 patents for electric motors, propellers and electrical systems as well as series production facilities and broad research resources, which the company now intends to use to develop boat motors together with Yamaha Motor.

“With the acquisition of Torqeedo, the global market leader for electric mobility on the water, we are taking the next step in our Marine CASE Strategy for 2024. Torqeedo’s years of expertise provide us with expert support in driving the electrification of our marine applications to make an important contribution to a zero-emission shipping industry,” says Toshiaki Ibata, senior executive officer, chief director of Marine Business Operations Yamaha Motor.

Torqeedo, renowned for its expertise in electric and hybrid drive systems, will now operate under the umbrella of the Japanese multinational group, Yamaha Motor. The acquisition is poised to strengthen Yamaha’s position in the growing market for electric boat motor systems and contribute significantly to the company’s goal of achieving carbon neutrality.

“With Yamaha Motor, we have a strong strategic partner at our side to jointly advance electromobility on the water. This merger offers us new opportunities to strengthen our leading position in the growing market for electric boat motor systems and to shape the future of boating sustainably together,” says Fabian Bez, CEO of Torqeedo.

Torqeedo’s integration into the Yamaha Motor Group brings a wealth of experience and a comprehensive product range that will bolster Yamaha’s development of electric propulsion lines. The collaboration aims to shape the future of boating sustainably and drive the decarbonisation of shipping.