German high-performance car manufacturer Porsche is moving to increase its stake in Greyp Bikes, confirming it plans to acquire a majority stake in the Croatian company by the end of this year.
The move, which is awaiting approval by regulatory bodies, continues an escalating trend in automotive companies buying into the bike industry, with a particular interest in the growth of e-bikes.
Greyp is producing what it claims are “the most connected and technologically advanced e-bikes on the market”, which is not surprising for a company that describes itself as a “tech company that just happens to make some of the best bikes in the world”.
That technology includes inbuilt GPS, widescreen cameras mounted front and rear and a Greyp app that provides a range of displays and assists with trip planning.
Porsche has held a stake of around 10% in Greyp since 2018, at the same time it invested in Rimac Automobili, which produces electric supercars and, like Greyp, is part of the Rimac Group.
A statement from Greyp says Porsche’s increased investment in the bike company would “surely accelerate further research and development in all fields of e-mobility and connected technology within Greyp”.
It says Porsche’s heightened commitment is “a confirmation of Greyp’s vision of micromobility, which redefines the user experience of e-biking through software and IoT”. “The two companies, through the sharing of know-how, resources and Porsche’s proven pioneering spirit in mobility, aim to significantly increase Greyp’s operations, particularly in R&D, with the aim of making mobility more fun, practical and safe for their users,” according to the statement.
“Micromobility will play a large role in the future of transport, and Greyp, as part of the Porsche family, will be one of the main protagonists in this electrifying and thrilling narrative.”