Yamaha Motor Co. this morning announced that it completed a stock purchase agreement with Deutz AG, the parent of electric propulsion manufacturer Torqeedo. The deal, which is premised on securing clearances and permits to satisfy regulatory agencies, involved the purchase of all Torqeedo shares.
Torqeedo holds numerous patents related to electric motors, propellers and electric systems, and has the R&D capabilities, mass-production equipment and development resources for next-generation environmental technologies.
“Yamaha’s acquisition of Torqeedo supports the current midterm plan and helps to accelerate the company’s efforts toward achieving carbon neutrality by 2050,” Ben Speciale, president, Yamaha U.S. marine business unit, said in a statement. “That goal within the marine market can only be reached through an approach leveraging a variety of solutions, one of which is electric propulsion.
“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,” Speciale added. “Furthermore, 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.”
Terms of the transaction were unavailable.
