Porsche has stepped into the electric bicycle business with the take-over of e-bike manufacturer Greyp. Porsche Ventures already held 10% of the Croatian company since 2018. Rimac and the other Greyp founders will retain a minority share in the company.
A third party offer made Porsche Ventures decide to step up its investment in Greyp now. This means they want to take-up a more active role in the rapidly expanding e-bike market, the company wrote in a statement published today.
The initial investment in Greyp in 2018 came at the same time that it invested in its sister company, Rimac Automobili. The transaction is still subject to the approval of antitrust authorities and is expected to be finalised at the end of the year.
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.