Yamaha Motor, which announced over US$17 billion in revenue for 2023, has closed its acquisition of Torqeedo. The Germany-based producer of electric marine motors was formerly owned by Deutz AG, the Cologne-based internal combustion engine manufacturer.

Yamaha is renowned for its motorcycles, while the Japanese brand’s mobility products also include outboard engines, WaveRunner jetskis and motor boats.

The Torqeedo acquisition marks Yamaha Motor’s entry into the dynamic electromobility market and marks a milestone in the company’s Marine CASE Strategy 2024, which aims to achieve carbon neutrality in the marine industry and includes the development of an electric propulsion line.

Toshiaki Ibata, Yamaha Motor’s Senior Executive Officer and Chief Director of Marine Business Operations, said: “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.”

Founded in 2005, Torqeedo has almost two decades of expertise in the electric mobility sector and more than 250 patents for electric motors, propellers and electrical systems. It also has series-production facilities and broad research resources, which the company now intends to use to develop boat motors with Yamaha Motor.

Fabian Bez (Leader, Issue 72), Torqeedo’s CEO, said: “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.”

www.torqeedo.com