Porsche is acquiring a majority stake in the e-bike manufacturer Greyp Bikes.

The purchase of the majority stake comes following a takeover offer from a third-party investor, following which Porsche, which previously owned a 10% stake in the business, exercise its right of first refusal. Porsche will now instead become the majority shareholder of Greyp Bikes, with only Mate Rimac and other Greyp founders retaining a minority stake in the company.

The takeover has not yet been legally completed, but is expected to be finalised at the end of 2021. It will allow Porsche to deploy the knowledge it has gained from the battery-electric drive in its models on the attractive and fast-growing e-bike market.

Porsche already has dipped its hands into the e-bike market in March of 2021 with the introduction of the Porsche eBike Sport and eBike Cross representing the brand's take on exclusive electric bikes, both of which are completely sold out. Work is currently underway on product updates to the existing Sport and Cross models.