Luxury sports car manufacturer Porsche has gone all-in by taking full ownership of e-bike company Fazua.
After purchasing a 20% share in the company in January this year, Porsche has now upped its stake by acquiring all Fazua’s remaining shares.
Fazua is a pioneer in the development of lightweight and compact e-bike drive systems.
Founded in 2013, the Munich-based firm is the manufacturer of choice to more than 40 major bike brands.
“In Fazua, we have found a strong partner with a great deal of experience in the bicycle industry,” said Lutz Meschke, Deputy Chairman of the Executive Board of Porsche AG and Member of the Executive Board for Finance and IT. “Fazua is known among experts as the founder of the ‘light e-bikes’ category – and it’s a highly innovative company that fits perfectly with the pioneering spirit of the Porsche brand.”
This is not the first time Porsche has invested in e-bikes. It already owns a majority stake in Croatia’s Greyp e-bike brand, a project from serial entrepreneur Mate Rimac.
Looking ahead, Porsche’s future e-bike activities will be merged through the establishment of two joint ventures with the Dutch company Ponooc Investment B.V. The first joint venture will develop, manufacture and distribute a future generation of high-quality Porsche e-bikes. The second will focus on technological solutions for the fast-growing micromobility market.
Fazua’s Co-Founder Fabian Reuter added: “We are happy that we are now officially part of the Porsche family. It’s the next stage on our joint journey. The further expansion of the Fazua product portfolio in the agile and light e-bike segment plays a central role for us. We are ready for new adventures.”