STUTTGART (BRAIN) — Porsche announced on Wednesday that it acquired the remaining 80% of shares in German e-bike drive system Fazua GmbH.
The sports car manufacturer said in February that it was acquiring a minority stake in Fazua while also partnering with Pon Holdings' Ponooc Investment B.V., which focuses on sustainable energy and mobility solutions. Pon Holdings also is the parent of several bike brands, including Cannondale, Schwinn, Cervelo and Santa Cruz.
"In Fazua, we have found a strong partner with a great deal of experience in the bicycle industry," said Lutz Meschke, Porsche AG executive board deputy chairman. "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."
Fazua — based in Ottobrunn, near Munich — develops lightweight and compact drive systems, such as the recently released Ride 60, which will be equipped on mountain, gravel and urban bikes in August. It weighs 4.3 pounds, and has a 430Wh capacity battery that weighs 5 pounds.
Started in 2013, Fazua entered the North American market late in 2019. More than 40 brands use Fazua's technologies.
In November, Porsche announced it was acquiring a majority interest in the Greyp e-bike brand after holding about a 10% stake since 2018. Porsche said then it planned to invest 15 billion euros ($17 billion) in new technology in the next five years, with 6.5 billion euros for the development of electric vehicles.
Independent of the joint venture activities, Porsche will continue to work with long-standing partner Rotwild on its current e-bike models. In March 2021, the company launched its own e-bikes, the Sport and Cross.
