Porsche buys out eBike OEM Fazua
Porsche has announced that it has exercised the option to fully acquire the Fazua business, having earlier taken a 20% stake with the option to fully acquire the eBike systems maker.
“In Fazua, we have found a strong partner with a great deal of experience in the bicycle industry,” says Lutz Meschke, Deputy Chairman of the Executive Board of Porsche AG and Member of the Executive Board for Finance and IT. “Fazua is known among experts as the founder of the ‘light eBikes’ category – and it’s a highly innovative company that fits perfectly with the pioneering spirit of the Porsche brand.”
In the future, Porsche’s eBike activities will be merged through the establishment of two joint ventures with the Dutch company Ponooc Investment B.V. The first joint venture will develop, manufacture and distribute a future generation of high-quality Porsche eBikes. The second will focus on technological solutions for the fast-growing micromobility market.
Notably Porsche also fully acquired the GreyP brand in November of 2021. The Croatian electric bike brand is notable for integration of sophisticated technologies transferred from owner Mate Rimac’s automotive company Rimac Automobil. The founder says that the bikes are built around electronic features and a Linux operating system, rather than the other way around.
The German electric bike components maker has rapidly grown to become a brand favourite and scaled alongside market demand, at times finding itself unable to keep up with the volume of businesses requesting access to its goods. The Ottobrunn-based company is noted for its timely development of lightweight and compact drive systems, such as the innovative new Ride 60, which it only recently unveiled.
Independent of the joint venture activities, Porsche will continue to work with its long-standing partner Rotwild on its current eBike models. In March 2021, the company launched its interpretation of exclusive electric bikes with the Porsche eBike Sport and the eBike Cross.
