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Yamaha Motor to acquire electric marine manufacturer Torqeedo

January 22, 2024

Yamaha Motor Co., Ltd. has announced the conclusion of a stock purchase agreement with Germany’s DEUTZ AG, the owner of marine electric propulsion manufacturer Torqeedo®.

The agreement will see Yamaha acquire all of Torqeedo’s shares, subject to necessary clearances and permits.

Torqeedo is known for its work in electric marine propulsion, offering a wide range of products from electric outboard and inboard motors to batteries and various other accessories. The company 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.

A recent study commissioned by the International Council of Marine Industry Associations (ICOMIA) titled The Pathways to Decarbonisation for the Recreational Marine Industry, supports Yamaha’s approach to carbon neutrality. The study, conducted by global engineering consulting firm, Ricardo plc, investigated propulsion technologies across nine common recreational watercraft. It concluded that a multi-plan approach is the most effective way to continue the decarbonization of recreational boating.

The study found that due to the unique water environment of boats, there is no “one-size-fits-all” solution. Instead, it recommends a portfolio of technologies to continue the reduction of carbon emissions within the recreational boating industry. This includes a combination of electric, hybrid, sustainable fuel, and internal combustion applications.

Recreational boats account for less than 0.1 percent of global greenhouse gas (GHG) emissions, specifically 0.7 percent of transportation carbon dioxide (CO2) emissions in the United States and 0.4 percent of transportation CO2 emissions in Europe. Over the last two decades, the U.S. recreational marine industry has decreased marine engine emissions by more than 90 percent and increased fuel efficiency by more than 40 percent.

Yamaha U.S. Marine Business Unit, based in Kennesaw, Ga., markets and sells marine outboard motors and fiberglass, jet-drive sport boats. The unit includes manufacturing divisions of Yamaha Marine Systems Co., Inc., including Kracor of Milwaukee (rotational molding), Bennett Marine of Deerfield Beach, Fla. (trim tabs), and Yamaha Marine Precision Propellers of Indianapolis (stainless steel propellers).