Cologne, Germany- Deutz AG., has achieved another significant milestone in its portfolio realignment with the completion of the sale of Torqeedo, a manufacturer of electric outboard and inboard motors, to Yamaha Motor Co., Ltd. (Yamaha)
In order to accelerate the electrification strategy for Deutz's core customer segments Construction Equipment, Agricultural Machinery, and Material Handling in particular and to solidify Torqeedo's position in electric-powered water transport technology, Deutz acquired the specialist in electric boat drives in 2017. Deutz has effectively increased the range of electric drive systems in its offering during the last few years.
Dr. Sebastian C. Schulte, Deutz Ceo, said that, Deutz anticipates a significant gain from the sale of Torqeedo, likely in the low double-digit millions of euros, with proceeds estimated in the high double-digit millions. Torqeedo's acquisition by Yamaha promises further growth opportunities. Congratulations to both parties involved. Best wishes to Fabian Bez, Torqeedo's management, and staff. For Deutz, this sale signifies a structured restart for its Green segment, allowing focus on developing market-driven drive solutions. The aim is to establish a profitable green ecosystem, including hydrogen-powered engines and battery-electric products, vital for the future of transportation.
Deutz's Dual+ strategy, introduced in 2023, focuses on developing its green product portfolio while enhancing performance in conventional engine business and expanding service offerings. The goal is to become one of the top three independent drive manufacturers by 2030 and achieve climate neutrality by 2050.
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