Porsche is embracing electrification in more ways than one as the company is acquiring a 20% stake in Fazua GmbH.
While Fazua isn’t a household name, Porsche billed them as an “innovative manufacturer of eBike drive systems” and a “pioneer in the development of lightweight, compact drive technologies.” The automaker went on to say Fazua created the light eBike category and is a significant player as more than 40 brands rely on their technology.
The companies didn’t disclose the purchase price, but Porsche noted they have the option to buy additional shares and this would allow them to “take over Fazua completely.”
Porsche also announced a “strategic partnership” with Ponooc Investment B.V. and it calls for the establishment of two joint ventures focused on electric mobility.
The first involves the development, manufacture and distribution of future Porsche eBikes. The second joint venture is a bit more mysterious, but Porsche said it will focus on “technological solutions in the fast growing micro mobility market.”
Since the acquisition and joint ventures are subject to antitrust approval, Porsche is keeping additional details under wraps. However, the company said the eBike market is “attractive and fast-growing” and noted they want to combine their expertise with the “market-specific know-how of Fazua and Ponooc.”