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Porsche cracks electric bike deal, focuses on expansion e-mobility offerings

Porsche is all set to gain a major stake in Greyp, a Croatian electric-bike maker connected to its affiliate Rimac Automobili.Porsche has concentrated about 6.5 billion euros to develop partly or fully battery-powered vehicles.
By : Updated on : 20 Nov 2021, 12:41 PM
File photo of Porsche logo.

Porsche is acquiring a major stake in Greyp, a Croatian electric-bike maker linked to its affiliate Rimac Automobili, with an intention to expand mobility choices beyond sports cars. The luxury automaker's venture capital arm already had a stake in the bike company of about 10 per cent and now the former wants to boost its holding following a takeover offer from a third-party investor.

Mate Rimac, founder of electric supercar Rimac, and other Greyp founders will retain a minority stake in the electric-bike firm. The takeover is expected to be finalised at the end of the year, stated a report by Bloomberg.

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(Also read | Porsche Taycan EV range grows with new GTS and GTS Sport Turismo variants)

Porsche is focused on its electrification goals and with its all-electric Taycan, which has come at par with the rest of the company's popular models, and the range is growing as the automaker recently introduced Porsche Taycan GTS and Porsche Taycan GTS Sport Turismo shows that the company is not shying away to expand on options concerning electric mobility. Chief financial officer Lutz Meschke said in a statement that the brand is consistently driving forward its e-mobility strategy. “Our activities in the e-bike sector underline our consistent approach," he said.

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(Also read | Taycan EV, Porsche's quickest-ever car, is now in India. Check details)

Porsche developed two electric bikes in March and now wants to focus and apply the expertise that it has gained in the creation of EVs in the two-wheeler sector. It also made a massive investment of 15 billion euros in order to develop new technology in the next five years with an amount of 6.5 billion euros dedicated to the production of partly or fully battery-powered vehicles.

First Published Date: 20 Nov 2021, 12:41 PM IST