-November 19, 2021 at 5:48 AM Pacific Time
Porsche today announced the acquisition of a majority stake in Greyp Bikes to further penetrate the electric bicycle market.
Porsche has become a minority shareholder in Greyp, a Croatian electric bicycle company spun off from electric supercar manufacturer Rimac.
In 2018, Porsche acquired a 10% stake in Greyp while investing in Rimac. Earlier this year, Porsche expanded its position to own nearly 25% of Rimac and has now decided to further cooperate with Greyp.
This move was due to another company’s recent attempt to acquire a controlling stake in Greyp, while Porsche exercised its “first right of purchase” over its existing contacts.
This allowed Porsche to step in and acquire a controlling stake. Mate Rimac, Greyp's original founder and Rimac's CEO, will remain a minority shareholder.
The acquisition is expected to be completed early next year.
As Lutz Meschke, Deputy Chairman of the Executive Board of Porsche AG explained:
"Porsche is a pioneer in sustainable mobility and consistently promotes its electric mobility strategy. Our activities in the field of electric bicycles emphasize our consistent approach. For many years, Porsche has been a leading supplier of plug-in hybrid vehicles. In 2019, we launched the first purely electric Porsche Taycan. Last year, one-third of our delivered vehicles were equipped with electric motors. Our ambitious goal is to achieve carbon dioxide-neutral assets throughout the value chain by 2030 Balance Sheet."
Greyp Bikes' high-quality products have become an attractive target for Porsche, and Porsche has designed its own high-end electric bicycles.
Greyp is known for its cutting-edge electric bicycles, which combine top-of-the-line bicycle components, high-tech connectivity and a novel proprietary carbon fiber frame to produce high-quality electric bicycles.
The company started with a high-power G12 electric bicycle with a top speed of about 50 mph (80 km/h), so it is more like an electric motorcycle with pedals.
In 2019, the company launched its first carbon fiber full suspension electric mountain bike G6. We went to Croatia for a test before the release, making full use of its interconnected design, built-in camera and strong climbing ability.
The company subsequently introduced the G5, which is a hard-tail version of the bike.
This year Greyp added its T5 hiking electric bike to its product lineup, offering more affordable models designed for urban commuting and off-road cycling.
Porsche is no stranger to carbon fiber full suspension electric bicycles.
Earlier this year, the company launched two stylish electric bicycles with the iconic Porsche style.
Porsche eBike Sport provides electric mountain bikers with a premium car that matches the Porsche in the garage. For riders looking for more commuting alternatives than mountain bikes, the Porsche Electric Bike Cross uses a similar frame, but with a road-friendly load.
Both bikes are powered by Shimano EP8 electric motors launched at the end of last year.
As you might have guessed, Porsche’s electric bikes are not cheap. The Porsche eBike Sport is priced at US$10,700, while the Porsche eBike Cross is slightly cheaper at US$8,549.
The electric bicycle was unveiled at the same time as the Porsche Taycan Cross Turismo high-performance electric car.
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Micah Toll is a personal electric car enthusiast, battery nerd, and the author of Amazon's number one best-selling book DIY Lithium Battery, DIY Solar, and the Ultimate DIY Electric Bike Guide.
You can send him a reminder via Micah@electrek.co
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