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Porsche acquires minority interest in Fazua e-bike drive system brand

Published February 10, 2022

STUTTGART (BRAIN) — Porsche announced Thursday plans to acquire a 20% stake in the German e-bike drive system manufacturer Fazua GmbH and also will partner with Pon Holdings' Ponooc Investment B.V.

While the sports car manufacturer will be a minority Fazua shareholder for now, it has an option to purchase more shares and to assume complete control. Terms of the sale were not reported.

The Dutch company Ponooc Investment focuses on sustainable energy and mobility solutions. Pon Holdings also is the parent of several bike brands, including Cannondale, Schwinn, and Santa Cruz.

Started in 2013, Fazua, known for its lightweight e-bike drive systems, entered the North American market late in 2019. The Evation mid-mounted 250Wh drive system weighs 10.1 pounds, and Fazua says the system has no resistance when riding without assistance. More than 40 brands use Fazua's technologies.

In November, Porsche announced it was acquiring a majority interest in the Greyp e-bike brand after holding about a 10% stake since 2018. Porsche said then it planned to invest 15 billion euro ($17 billion) in new technology in the next five years, with 6.5 billion euro ($7.3 billion) for the development of electric vehicles.

With these acquisitions, Porsche said it is investing aggressively in e-mobility, combining its expertise with the market-specific know-how of Fazua and Ponooc. Porsche reiterated that it continues to work with long-standing partner Rotwild on its current e-bike models. In March 2021, the company launched the Porsche Sport and Cross models. In addition, Porsche Digital GmbH is building a platform for digital services around the cycling experience under the Cyklaer brand.

Topics associated with this article: Mergers, Acquisitions & Investments

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