Wednesday, December 1, 2021

Porsche acquires a majority stake in high-end electric bike maker Greyp

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Croatian electric bike producer Greyp Bikes has a new majority shareholder: Porsche. The sports activities automotive producer’s enterprise capital arm, Porsche Ventures, has held a stake of round 10 p.c in the e-bike firm since 2018.

Greyp (pronounced just like the fruit) was based Mate Rimac — aka “Croatia’s Elon Musk” — the brainchild behind electric supercar startup Rimac Automobili. The firm makes extremely linked, extraordinarily highly effective electric mountain bikes, together with the $10,000 flagship, full-suspension G6. The firm sells its bikes in Europe and lately launched its US operations primarily based in San Pedro, Calif.

The funding is one other signal of Porsche’s confidence in Rimac’s enterprise prowess. The automaker additionally owns a small stake in Rimac Automobili, which it purchased on the similar time it initially bought shares in Greyp. Rimac lately introduced that it was taking on Bugatti from Porsche’s guardian firm, Volkswagen, to kind a new firm referred to as Bugatti Rimac.

The elevated funding comes at a time of accelerated development in the world of e-bikes. Sales of e-bikes are rising sooner than conventional bikes in most main markets. The pandemic was a huge issue, with gross sales growing 145 p.c from 2019 to 2020, greater than double the speed of non-motorized bikes, in accordance with the market analysis agency NPD Group.

Porsche characterised the choice to take a controlling curiosity in Greyp as a part of its broader plan to speculate in zero- and low-emission autos, together with plug-in hybrid autos and the all-electric Porsche Taycan. The firm has mentioned it’s going to have a carbon impartial “balance sheet” by 2030.

Porsche is not any stranger to the world of e-bikes. Earlier this 12 months, the automaker unveiled a pair of high-priced, full-suspension electric mountain bikes, the Sport and the Cross.

The Sport is a highway bike meant for on a regular basis use, with a full-suspension carbon fiber body, built-in entrance and back lights, Shimano mid-drive motor, and a $10,700 price ticket. The Cross, which is extra for off-roading adventures, sports activities a Shimano mid-drive, carbon fiber body, and full suspension body, in addition to Magura-MT Trail hydraulic disc brakes which are extra-large and “heat resistant.” It weighs 48.7 kilos and retails for $8,549.

Porsche is the newest firm specializing in combustion engine autos to dip a toe into the world of electric two-wheelers. Often, while you hear about automotive firms releasing their very own electric bikes, it’s simply a model licensing deal. (Think Jeep’s e-bike or these Hummer bikes from final decade.) Other occasions, it’s a much-hyped undertaking that finally ends up falling sufferer to bigger company cost-cutting, like General Motors’ Ariv e-bikes. But often, one thing fascinating emerges, like Harley-Davidson’s lately launched Serial 1 e-bikes.

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