Company: Torqeedo, Yamaha Motor
Business Type: Manufacturer
UK & International Business Sales and M&A News
Yamaha Motor has acquired the electric marine engine manufacturer Torqeedo after agreeing a stock purchase agreement of Torqeedo’s shares with Torqeedo’s German owner DEUTZ AG, with the aim of becoming a leader in the growing market for electric boat propulsion whilst achieving carbon neutrality in the marine industry.
Torqeedo, founded in 2005, is globally recognised for its electric boat engines all designed to reduce environmental impact. It produces propulsion for recreational boating – models include the Ultralight, Travel and Cruise electric marine engine. The business, with its HQ in Wessling, Germany, also provides its professional and commercial marine clients with outboards, inboards, batteries and accessories – it has produced powerful 200 kW systems and battery banks boasting high triple-digit kWh capacities used on 30-metre-plus blue-water catamarans and autonomous ferries. The company’s founding team set new standards with powerful lithium-manganese batteries and 24 times more torque than competing motors.
This acquisition is aimed at strengthening Yamaha’s 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.
Ben Speciale, President of Yamaha U.S. Marine Business Unit, said:
“Yamaha’s acquisition of Torqeedo supports the current Mid-Term Plan and helps to accelerate the company’s efforts toward achieving carbon neutrality by 2050. That goal within the marine market can only be reached through an approach leveraging a variety of solutions, one of which is electric propulsion.
“The pending acquisition supports Yamaha Marine’s CASE strategy, which helps Yamaha deliver high-value, innovative products to customers while promoting marine conservation and sustainability.”
Ben Speciale – President of Yamaha U.S. Marine Business Unit
Yamaha recently announced it was unveiling a prototype hydrogen-powered outboard motor at the Miami International Boat Show 2024.
Speciale continued:
“Through the relationship with Torqeedo, Yamaha will have the ability to fast-track the establishment of a small electric propulsion lineup, complimenting the company’s efforts with hydrogen and sustainable fuels as additional means of reducing the carbon footprint on the water.”
The acquisition is subject to the clearances and permits required by competition laws and other regulations.
Comments
No comment yet.