Deutz sells Torqeedo to Yamaha Motor

Deutz will sell its subsidiary Torqeedo, acquired in 2017, to the Japanese conglomerate Yamaha Motor, which is best known for its motorcycle division. With the new owner, the world's leading manufacturer of outboard and inboard engines will gain access to a large dealer network and a globally established service network. The sale is expected to generate proceeds in the high double-digit million-euro range. In the first nine months of the 2023 fiscal year, Torqeedo, with around 230 employees, achieved a turnover of approximately 35 million euros.