Yamaha Motor Co has completed a significant transaction, four months after announcing its entry into a stock purchase agreement to acquire German electric motor pioneer Torqeedo from Deutz AG. This move comes following approval by European regulators and marks a milestone in Yamaha’s journey toward achieving carbon neutrality.
According to a news release, Torqeedo CEO Fabian Bez expressed optimism about the merger, stating that it offers new opportunities to strengthen their leading position in the electric boat motor systems market and to promote sustainable boating practices.
With this acquisition, Yamaha now ventures into the realm of electric boat motors alongside a highly respected brand that boasts state-of-the-art manufacturing facilities, established in 2020 near Munich, Germany by Deutz.
The Torqeedo line offers a diverse range of motors, catering to various power needs, from the Ultralight 403 AC motor to the Cruise outboards and pod drives to the Saildrive and Deep Blue outboard and hybrid systems. These motors serve both recreational and commercial applications.
While specific financial details remain undisclosed, it’s noted that the proceeds of the sale amount to a figure in the high double-digit millions of euros. There’s keen interest in how Yamaha’s extensive network, including over 2,000 US dealers and over 200 global distributors, will enhance Torqeedo’s distribution and availability.
Established in 2005, Torqeedo boasts more than 250 electric motor, system, and propeller patents. It was initially acquired by Deutz in 2017.
