Porsche announces to increase its presence in the rapidly growing market of electric bicycles. The Stuttgart-based sports car manufacturer is thus acquiring a 20% stake in Fazua, an innovative manufacturer of drive systems for e-bikes.
Porsche is also announcing a strategic partnership with Ponooc Investment BV, a Dutch venture capital firm that provides growth capital to start-ups and scale-ups. The German manufacturer and Ponooc plan to create two joint ventures in the field of electric mobility.
The first joint venture will aim to develop, manufacture and distribute a future generation of high-quality Porsche electric bicycles, while the second will focus on technological solutions for the micro-mobility market.
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