Deutz enters electric drive market with Torqeedo acquisition

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Deutz is entering the electrification market with the acquisition of Torqeedo, a Munich-based developer of electric and hybrid drives for boats, which will be incorporated into the E-Deutz arm of the business.

Founded 12 years ago, Torqeedo now operates in over 50 countries on five different continents and has significant experience in components, software and system integration for electric drives.

“Acquiring Torqeedo will enable us to gain electrical expertise far more quickly than with a standalone solution, and to electrify our product range where it makes sense from a technical and financial perspective,” said Dr Frank Hiller (above), chairman of the board of management at Deutz AG.

“This will give us a significant advantage in a very fast-moving competitive environment. It also marks the start of our E-Deutz strategy, for which Torqeedo will be the

catalyst.”

Alongside their role as managing directors of Torqeedo, CEO and founder Dr Christoph Ballin (above) and chief operating officer Dr Ralf Plieninger (right) will also take on senior management positions at Deutz, with Ballin appointed head of strategy and Plieninger head of electrification.

“Torqeedo has extensive know-how in respect of electric motors, battery management, power electronics and system integration,” Ballin said.

“We look forward to working with Deutz’s development teams in order to play a key part in driving forward electrification in the off-highway sector.

“Being part of the Deutz Group will create additional opportunities for Torqeedo in the areas of industrialization, purchasing, sales and service. We aim to make use of these opportunities and further accelerate our growth.”

September 29, 2017

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Tom Stone is Editor of the iVT brand – which includes digital and print editions of a quarterly magazine, Off-Highway Annual, and the Advanced Lift-truck supplement, as well as ivtinternational.com, which is updated daily. Tom has met and interviewed some of the world's leading industrial vehicle OEM presidents, CEOs and MDs, and takes great pride in cementing iVT's place as the leading forum for debate within the industry, a reputation that his been built up over the brand's 25-year history.

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