PHOTO COURTESY TORQEEDOElectric propulsion manufacturer Torqeedo announced the closing of its acquisition by Yamaha Motor. The closing of the share-purchase agreement with German engine manufacturer Deutz AG, the previous owner of Torqeedo, is a component of Yamaha’s Marine CASE Strategy 2024, an effort to decarbonize the marine industry through alternative propulsion systems.
“With Yamaha Motor, we have a strong strategic partner at our side to jointly advance electromobility on the water Torqeedo CEO Fabian Bez said in a statement. “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.”
By implementing the Marine CASE Strategy 2024, Yamaha Motor is hoping to increase its competitiveness and accelerate decarbonization of the marine industry. Torqeedo has more than 250 patents for electric motors, propellers and electrical systems, plus full production facilities.
