Tuesday, July 16, 2024

Porsche Acquires Fazua eBike Company to Produce Two-Wheel Electric Vehicles

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Porsche has acquired a stake in Fazua, an innovative manufacturer of electric bicycle propulsion systems or eBike, and partnered with Ponooc Investment BV. This Porsche action signifies the seriousness of this German sports car manufacturer to produce two-wheeled electric vehicles.

Ponooc is part of Pon Holdings BV a trading and service company with approximately 16,000 employees worldwide, which is also active in the bicycle industry and the automotive business, among others. Meanwhile, Fazua is known as a pioneer in the development of compact and lightweight drive technology.

With this acquisition, Porsche is predicted to produce light electric bicycles. There are already more than 40 bicycle brands that rely on Fazua technology.

So far, Porsche has only acquired a 20 percent stake in Fazua, but there is an option to buy all of them in the future, Porsche said in an official statement on Monday (14/2/2022).

Together with Ponooc, Porsche plans to establish two joint ventures that will engage in electric mobility. The first joint venture is to develop, manufacture and distribute the next generation of high-quality Porsche eBikes.

The second company will focus on technology solutions in the fast-growing micromobility market.

With these steps, Porsche is pushing its e-mobility strategy holistically. In 2019, the company presented the Taycan as the brand’s first all-electric sports car.

Nearly 40 percent of Porsche cars shipped in Europe in 2021 will be electric–that is, plug-in hybrid or fully electric models. Worldwide, the share is just under 25 percent.

The Stuttgart-based sports car manufacturer is now looking to further leverage this knowledge in the exciting and fast-growing eBike market.

In doing so, it pursues a clear strategy: Porsche’s expertise will be complemented by the specialized market knowledge of Fazua and Ponooc, who have a broad portfolio of businesses in micromobility and mobility platforms.

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