Yamaha acquires Torqeedo
Torqeedo, a pioneer of modern electric motors for pleasure craft, joins the Yamaha Motor Group, whose marine division is a heavyweight in the outboard combustion engine sector. The Japanese group announced on January 19, 2024 that it had signed an agreement with Germany's Deutz, the current owner, for the purchase of Torqeedo's entire share capital. The agreement is subject to regulatory approval.
Torqeedo, founded in 2005, now employs 230 people. The German company, which started out with low-power transportable outboards, now has a comprehensive range of electric outboards and inboards up to 100 kW in power, as well as batteries and various accessories. The Bavarian-based start-up, was acquired in 2017 by engine manufacturer Deutz, to accelerate its growth .
Yamaha speeds up electrics
While electric motors are becoming increasingly present on pleasure boat transoms, and several purely electric motor manufacturers are emerging, in all power ranges. Torqeedo was a pioneer, but now faces competition from ePropulsion, Vision Marine Technologies and Evoy in the high-power segment, while the 4 major outboard marine motor manufacturers have been slow to catch up.
Following Mercury Marine's launch of the Avator range in 2023, which will soon be extended to include higher-power models, it's Yamaha's turn to step up the pace. Its Harmo engines, shown for the first time in 2016, have made a timid start and the acquisition of Torqeedo should launch them fully into the battle for this emerging market. Yamaha benefits from a well-reliable low-power range, a portfolio of patents and is counting on the future development of a medium-power range.
On the Suzuki, the Japanese group's latest strategic announcements included plans for electric motors with a first launch in 2024 and 5 models in 2030. Honda showed its first prototypes at Boot Düsseldorf 2023 without mentioning a launch date.
