In a major move that will have broad reaching affects on the growing electrification market, Yamaha has announced the acquisition of Torqeedo Motors.
The stock purchase agreement will see Yamaha acquire all of Torqeedo's existing shares. The purchase is still contingent upon regulatory approval.
The large-scale purchase underscores an increase in tempo from the longstanding Japanese stalwart. In the last month alone, Yamaha has announced plans for a hydrogen-powered outboard prototype and has launched the all-new F350 4.3 L V6 Outboard. Now the industry leader has added one of the marine industry's largest electrication companies into its portfolio.
Torqeedo is a Germany-based manufacturer of marine electric motors, batteries, and related components, that was arguably the first to gain industry-wide traction with electric propulsion. The company opened a new headquarters and production facility in Munich in 2022 where they currently employ more than 230 people. Torqeedo also holds more than 250 patents for electric propulsion and is widely considered one of the global leaders in zero-emission marine technology.
According to a press release, "Yamaha Motor's aim in acquiring Torqeedo is to strengthen the Company's development capabilities in the Electric field of its Marine CASE Strategy, which outlines the general direction for the Marine Products business in the current Medium-Term Management Plan."
"This acquisition is also meant to accelerate the Company's efforts for achieving carbon neutrality in the marine industry as well as aid in fast-tracking the establishment of a small electric propulsion lineup. Furthermore, by combining Torqeedo's assets with Yamaha Motor's decades of technical expertise and know-how in hull design, marine engines, and more will birth synergies for creating mid-range electric outboard motors as the Company aims to become a leader in the growing market for electric boat propulsion."
Yamaha is set to unveil their latest hydrogen outboard prototype at the upcoming Miami International Boat Show in February.