Porsche takes 20% Fazua stake with takeover option, deepens PON link
Porsche has furthered its interest in the electric bike market with a 20% share buyout of electric bike motor systems maker Fazua. What’s more, there is an option for the purchase of further shares, which could give Porsche full buyout rights.
Alongside this announcement came a further collaboration, a strategic partnership with Ponooc, a venture capital arm of PON Holdings B.V. – a giant of the motoring and cycling world. Ponooc’s investments include most recent insurer Laka, Bikemap, Dockr and Movelo. Pon Hldings is a distributor o Porsche products already.
Fazua, from Ottobrunn near Munich, was founded in 2013 and is a pioneer in the development of lightweight, compact drive technologies. It established the new category of “light eBikes” and today employs more than 100 people. More than 40 renowned brands already rely on Fazua’s technologies. The parties have agreed not to disclose the purchase price.
As for the Ponooc collaboration, the pairing will establish two avenues for partnership, the first on e-Mobility strategy and the second on technological solutions for the micro mobility segment. The first joint venture is to develop, manufacture and distribute a future generation of high-quality Porsche eBikes.
Notably Porsche scooped up electric bike brand Greyp late last year in what was a further marker in a trend of rising automotive interest in the electric bike world. It also has a partnership with Rotwild that has existed for longer.
These investments set a clear path, Porsche state that it “is pursuing a clear strategy: Porsche’s expertise will be supplemented by the market-specific know-how of Fazua and Ponooc, which has a broad portfolio of ventures in micro mobility and mobility platforms.”
“This investment by Porsche fuels the ongoing acceleration of Fazua’s positive company development. Together, we will put the pedal to the metal to advance our ‘better rides’ vision,” say Fazua’s CEO.
The formation of the joint ventures as well as the Fazua transaction are subject to clearance by the relevant antitrust authorities. Porsche AG will not disclose any further details until these reviews have been completed.
Irrespective of these activities, Porsche continues to work in a proven manner 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. In addition, Porsche Digital GmbH is building a platform for digital services around the cycling experience under the Cyklær brand.
The motoring brand launched two new own-brand electric bikes during 2021, details of which can be found here.