DEUTZ has announced the next step in the repositioning of its portfolio as part of its Dual+ strategy: Torqeedo, manufacturer of outboard and inboard drives, will be sold to Yamaha Motor Co., Ltd. (Yamaha).
In 2017, DEUTZ acquired the specialist for electric boat drives in order to accelerate its electrification strategy for the core customer segments (especially construction equipment, agricultural machinery and material handling equipment) and expand Torqeedo’s technology and market leadership position in marine electromobility. Over the last few years, DEUTZ has successfully built an electric drive portfolio.
According to DEUTZ CEO Dr. Sebastian C. Schulte, “For Torqeedo, the resulting change is a great opportunity. For DEUTZ, it is an important step towards repositioning our green division."
DEUTZ had already announced its intention to find a better owner for Torqeedo at the Annual General Meeting in April 2023. With Yamaha as its new owner, Torqeedo will gain access to a larger distribution network and a global service network. At the same time, Torqeedo will help Yamaha advance the transformation of marine drive technology and leverage supply chain synergies.
Advancing the green product portfolio is an essential element of the Dual+ strategy, which was introduced at the start of the year: DEUTZ intends to improve the performance of the current business in classic engines and significantly expand the existing service business, using this as the basis to further develop the innovative technology portfolio. DEUTZ aims to establish itself among the top three independent drive manufacturers by 2030 and to be a climate-neutral company by no later than 2050.