COLOGNE/WESSLING (dpa-AFX) - As announced, the engine manufacturer Deutz has sold its electric motorboat subsidiary Torqeedo to the Japanese Yamaha Group. The sale was completed on Wednesday, Deutz announced in Koln. The company put the proceeds of the sale in the high double-digit million range. In the 2024 annual financial statements, this will lead to a book profit in the lower double-digit million range, it said.

According to Deutz, the sale will "free up resources" with which the company intends to further develop its green business.

The boat industry has so far been dominated by combustion engines. However, the proportion of electric engines is growing. Electric outboard and inboard engines are being used for smaller boats in particular. Torqeedo plays a leading role in this niche sector. Deutz acquired the Bavarian start-up in 2017. Most recently, Torqeedo had 230 employees./tob/DP/jha