Porsche is expanding its involvement in the e-bike market, acquiring 20% of the shares in e-bike drive systems manufacturer Fazua with an option to purchase further shares.
Fazua, from Ottobrunn, near Munich, was founded in 2013 and is a pioneer in the development of lightweight, compact drive technologies. It established the new category of ‘light e-bikes’ and today employs more than 100 people. More than 40 renowned brands already rely on the company’s technologies. The parties have agreed not to disclose the purchase price.
Porsche has also established a strategic partnership with Ponooc Investment B.V, part of Pon Holdings B.V. Together with Ponooc, the Stuttgart based sports car manufacturer plans to establish two joint ventures that will be active in the field of electric mobility.
The first joint venture is to develop, manufacture and distribute a future generation of high-quality Porsche e-bikes. The second company will focus on technological solutions in the micromobility market.
With these steps, Porsche said it is driving forward its e-mobility strategy in a holistic manner. In 2019, the company presented the Taycan as the brand’s first all-electric sports car. Almost 40% of the Porsche cars delivered in Europe in 2021 were already electrified, and worldwide, the share was just under 25%.
The formation of the joint ventures, as well as the Fazua transaction, are subject to clearance by the relevant antitrust authorities. Porsche AG will not disclose any further details until these reviews have been completed.
Irrespective of these activities, Porsche said it is continueing to work in a proven manner with its long-standing partner Rotwild on its current e-bike models. In March 2021, the company launched its interpretation of exclusive electric bikes with the Porsche eBike Sport and the eBike Cross. In addition, Porsche Digital GmbH is building a platform for digital services around the cycling experience under the Cyklær brand.