Porsche to acquire majority stake in electric bikes producer Greyp

Automotive giant Porsche AG will acquire a majority stake in Croatian electric bike producer Greyp Bikes. One of the founders of Greyp Bikes is Mate Rimac, owner of Rimac Automobili.

Since 2018, Porsche has controlled a stake of around 10 percent in Greyp via Porsche Ventures.

The German company bought its initial share at the same time as its stake in Rimac Automobili. Porsche has now decided to acquire a majority stake in Greyp Bikes, according to a press release by the Croatian bike producer.

The expansion of Porsche’s shareholding in Greyp takes place within a potential expansion of activities in the electric bicycle segment.

Mate Rimac and other Greyp founders will stay on as minority owners, Greyp Bikes said.

Another proof of Croatia being an electric vehicle R&D hotspot

Mate Rimac, CEO of Rimac Group, stressed Greyp has created the most connected and technologically advanced e-bikes on the market but that it has been “in the shadow of Rimac and could never flourish in its full potential.”

It will secure a great future for Greyp employees and bring tremendous value for Croatia as another proof of being an electric vehicle R&D hotspot, Rimac added.

The Porsche investment comes as a confirmation of Greyp’s vision of micro-mobility, which redefines the user experience of e-biking through software and IoT.

Micro-mobility 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 the electrifying and thrilling narrative, the electric bike maker said.