Porsche advances in electric mobility with agreement on electric bikes

Porsche acquires a majority stake in Greyp, a Croatian manufacturer of electric bikes linked to its subsidiary Rimac Automobili, to extend mobility offerings beyond sports cars like the 911 or the battery-powered Taycan.

Porsche’s venture capital arm already had a stake of around 10% in Greyp and the automaker has now exercised an option to increase its stake following a takeover offer from a third-party investor, Porsche said on Friday. in a press release.

Porsche “is constantly advancing its electric mobility strategy,” CFO Lutz Meschke said in the statement. “Our business in the e-bike business underscores our cohesive approach,” he said.

Porsche introduced two electric bikes in March and is looking to adopt the expertise it has gained in building battery-powered cars for luxury two-wheelers as well.

The most profitable brand in the Volkswagen Group has spent 15 billion euros ($ 16.9 billion) in investments in new technologies over the next five years, of which 6.5 billion euros alone for vehicle development partially and fully battery powered.

Mate Rimac, who founded and runs electric supercar maker Rimac, and other Greyp founders will retain a minority stake in the electric bike company. The buyout is expected to be finalized at the end of the year.