As it pursues its Dual+ strategy, Deutz has reached another milestone in its portfolio realignment by completing the sale of Torqeedo, the world’s leading manufacturer of electric outboard and inboard motors, to Yamaha Motor Co. Ltd.
In 2017, Deutz had acquired the specialist for electric boat drives with the aim of accelerating the electrification strategy for Deutz core customer segments (especially Construction Equipment, Agricultural Machinery, and Material Handling) and strengthening Torqeedo’s position as a technology and market leader in electric-powered water transport.
Over the past several years, Deutz’s portfolio of electric drive systems has been successfully expanded. The proceeds of the sale, amounting to a figure in the high double-digit millions of euros, are expected to result in the recognition of a book gain in Deutz’s 2024 financial statements in the low double-digit millions of euros.
“Torqeedo has found a new home with a strong industrial base that will enable it to achieve further dynamic growth. I would like to congratulate both Yamaha and Torqeedo. I wish Fabian Bez, his management team, and the entire workforce all the very best for the future,” said Deutz CEO Dr. Sebastian C. Schulte. “For Deutz, this step represents a structured restart for the Green segment. We are freeing up resources so that we can forge ahead with the development of drive solutions that meet the market’s needs and the needs of our customers. Only by doing so will we ultimately be able to earn money with our green products and establish a profitable green ecosystem. This ecosystem will encompass all of the relevant products and technologies that will be needed to keep the world moving in the future, including our state-of-the-art, hydrogen-powered internal combustion engines and our battery-electric off-highway products.”
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.