Want an electric Porsche but can't stretch to a Taycan? Iconic car brand takes control of e-bike firm

Iconic German sports car giant adds Croatian brand to its expanding e-bike Performance Group

Greyp T5 utility e-bike
(Image credit: Greyp)

Porsche has announced that it has assumed complete ownership of the Croatian e-bike brand Greyp. The German automotive giant's venture capital segment, Porsche Ventures, has held a 10% stake in Greyp since 2018.

"Greyp will have a very strong and growing presence in Croatia," said founder Mate Rimac. "We want to do big things, otherwise, Porsche and us would not be doing this. This will secure a great future for Greyp employees and bring tremendous value for Croatia as another proof of being an electric vehicle R&D hotspot." (Rimac is also the founder of the eponymous electric hypercar brand.)

In its aim to control and manufacture the best electric bikes, Greyp is the latest brand to be added to Porsche’s ebike Performance Group. In June 2022 it acquired the remaining 80% of shares in the German e-bike drive system Fazua GmbH. Fazua started in 2013 and specialises in compact drive systems, like the Ride 60, which are used by more than 40 brands worldwide. 

Both brands have a North American presence. Fazua entered the market in 2019, while Greyp opened its US operations in San Pedro, California in 2020.

Greyp T5 utility e-bike in use

(Image credit: Greyp)

Greyp and Fazua join Rotwild, Porsche’s longer-standing e-bike partner. Porsche and Rotwild combined in March 2021 to release two e-bike models, the Cross and the Sport. The recent acquisitions see Porsche continue its commitment to e-mobility and sustainable transport solutions.

"Porsche is a pioneer of sustainable mobility and is consistently driving forward its e-mobility strategy," said Lutz Meschke, deputy chairman of the Porsche AG Executive Board. "Our activities in the e-bike sector underline our consistent approach. Porsche has been a leading provider of plug-in hybrids for years."

"Our ambitious goal is to have a CO2-neutral balance sheet across the entire value chain by 2030," Meschke said.

Greyp T5 e-bike with cyclist

(Image credit: Greyp)

Porsche has committed to invest 15 billion euros, or around $17 billion, in new technology in the next five years, with 6.5 billion euro - or $7.3 billion - being ring fenced for the development of electric vehicles, including e-bikes.

E-bikes continue to form a small, but not insignificant, part of several car manufacturers' sustainability drives. Toyota recently launched its first electric cargo bike, made in partnership with Douze Cycles, a Dijon-based e-bike brand and to be sold through Toyota’s 300 French car dealerships. Other European brands to release e-bikes include Peugeot, with its eCo1 Crossover and Mercedes in partnership with N+ bikes. In the US General Motors and Jeep have both released off-road e-bikes in recent years.

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Freelance writer

Luke Friend has worked as a writer, editor and copywriter for twenty five years. Across books, magazines and websites, he's covered a broad range of topics for a range of clients including Major League Baseball, the National Trust and the NHS. He has an MA in Professional Writing from Falmouth University and is a qualified bicycle mechanic. He has been a cycling enthusiast from an early age, partly due to watching the Tour de France on TV. He's a keen follower of bike racing to this day as well as a regular road and gravel rider.