Porsche has announced that it has assumed complete ownership of the Croatian e-bike brand Greyp (opens in new tab). The German automotive giant’s venture capital segment, Porsche Ventures, has held a 10% stake in Greyp since 2018.
“Greyp will have a very strong and growing presence in Croatia,” said founder Mate Rimac. “We want to do big things, otherwise, Porsche and us would not be doing this. This will secure a great future for Greyp employees and bring tremendous value for Croatia as another proof of being an electric vehicle R&D hotspot.” (Rimac is also the founder of the eponymous electric hypercar brand.)
In its aim to control and manufacture the best electric bikes (opens in new tab), Greyp is the latest brand to be added to Porsche’s ebike Performance Group (opens in new tab). In June 2022 it acquired the remaining 80% of shares in the German e-bike drive system Fazua GmbH (opens in new tab). Fazua started in 2013 and specialises in compact drive systems, like the Ride 60, which are used by more than 40 brands worldwide.
Both brands have a North American presence. Fazua entered the market in 2019, while Greyp opened its US operations in San Pedro, California in 2020.
(Image credit: Greyp)
Greyp and Fazua join Rotwild (opens in new tab), Porsche’s longer-standing e-bike partner. Porsche and Rotwild combined in March 2021 to release two e-bike models, the Cross and the Sport. The recent acquisitions see Porsche continue its commitment to e-mobility and sustainable transport solutions.
“Porsche is a pioneer of sustainable mobility and is consistently driving forward its e-mobility strategy,” said Lutz Meschke, deputy chairman of the Porsche AG Executive Board. “Our activities in the e-bike sector underline our consistent approach. Porsche has been a leading provider of plug-in hybrids for years.”
“Our ambitious goal is to have a CO2-neutral balance sheet across the entire value chain by 2030,” Meschke said.
(Image credit: Greyp)
Porsche has committed to invest 15 billion euros, or around $17 billion, in new technology in the next five years, with 6.5 billion euro – or $7.3 billion – being ring fenced for the development of electric vehicles, including e-bikes.
E-bikes continue to form a small, but not insignificant, part of several car manufacturers’ sustainability drives. Toyota recently launched its first electric cargo bike, made in partnership with Douze Cycles (opens in new tab), a Dijon-based e-bike brand and to be sold through Toyota’s 300…