Bolstering competitiveness and accelerating carbon neutrality efforts in the Electric field of Yamaha’s Marine CASE Strategy.
Yamaha Motor announced today that it has 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.
Torqeedo, a pioneer in the field of electric marine propulsion, 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’s aim in acquiring Torqeedo is 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.
Furthermore, combining Torqeedo’s assets with Yamaha’s decades of technical expertise and know-how in hull design, marine engines, and more, will birth synergies for creating mid-range electric outboard marine engines as Yamaha aims to become a leader in the growing market for electric boat propulsion.
By implementing its Marine CASE Strategy, Yamaha 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.
Overview of Torqeedo
Location: Munich, Bavaria, Germany
Representatives: CEO: Fabian Bez
Employees: Approx. 230
The manufacture and sale of electric outboard and inboard marine engines, pod drives, hybrid systems, batteries, and other accessories