Nov 21, 2021 - 03:28 pm

Porsche takes majority stake in e-bike maker Greyp

Porsche is acquiring a majority stake in the e-bike manufacturer Greyp Bikes. The sports car manufacturer’s venture capital arm, Porsche Ventures, has held a stake of around ten per cent in the Croatian company since 2018.

Porsche made the investment in 2018 at the same time as investing in sister company Rimac Automobili. Following a takeover offer from a third-party investor for Greyp, Porsche has exercised contractual pre-acquisition rights.

Its majority takeover of the e-bike manufacturer further expands its activities in the sector, so the company. Porsche added, “Electric bikes have a fixed place in the company’s e-mobility strategy and promise further potential” when announcing today’s investment.

In addition to Porsche as majority shareholder, only Mate Rimac and other Greyp founders retain a stake in the company. Mate Rimac, CEO of Rimac Group, stated, “the 100-people strong team has undoubtedly created the most connected and technologically advanced e-bikes on the market, set up series production in Sveta Nedelja and shipped bikes all over the world.” He added, Greyp had been in the shadow of Rimac and could never flourish in its full potential – something the CEO hoped would change with Porsche now committed.

Porsche has been active in the e-bike market and expanded the Porsche eBike Sport and eBike Cross range this year. At present, both models have almost sold out, so the company. Porsche also confirmed continuing its long-standing partnership with bike manufacturer Rotwild. Work was currently underway on product updates to the existing Sport and Cross models.

“Our activities in the e-bike sector underline our consistent approach to e-mobility,” said Lutz Meschke, Deputy Chairman of the Executive Board of Porsche AG. He also reaffirmed Porsche’s target of having “a CO2-neutral balance sheet across the entire value chain by 2030.”

Porsche has earmarked a total of 15 billion euros to be invested in new technology over the next five years: €6.5 billion are slated for developments in hybrid and electric vehicles. Another three billion euros is to be invested in facilities relating to e-mobility, for example, in charging infrastructure or buildings to produce electric vehicles, the company said.

The company had introduced the Porsche Taycan in 2019 as exclusive electric flagship. Today’s statement claims that this year, one of three vehicles was fitted with an electric motor.

The place e-bikes take within the portfolio remains somewhat unclear. While Porsche said it was “deploying the knowledge it has gained from the battery-electric drive in its models on the attractive and fast-growing e-bike market,” and that electric bikes “have a fixed place in the company’s e-mobility strategy and promise further potential,” concrete numbers are scarce.

The Greyp takeover has not yet been legally completed. However, closing is expected at the end of the year.

porsche.com, greyp.com

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Found on electrive.com
https://www.electrive.com/2021/11/21/porsche-takes-majority-stake-in-e-bike-maker-greyp/
21.11.2021 15:38