Croatian electrical bike producer Greyp Bikes has a brand new majority shareholder: Porsche. The sports activities automobile producer’s enterprise capital arm, Porsche Ventures, has held a stake of round 10 p.c within the e-bike firm since 2018.

Greyp (pronounced just like the fruit) was based Mate Rimac — aka “Croatia’s Elon Musk” — the brainchild behind electrical supercar startup Rimac Automobili. The corporate makes extremely related, extraordinarily highly effective electrical mountain bikes, together with the $10,000 flagship, full-suspension G6. The corporate sells its bikes in Europe and not too long ago launched its US operations primarily based in San Pedro, Calif.

The funding is one other signal of Porsche’s confidence in Rimac’s enterprise prowess. The automaker additionally owns a small stake in Rimac Automobili, which it purchased on the identical time it initially bought shares in Greyp. Rimac not too long ago introduced that it was taking up Bugatti from Porsche’s father or mother firm, Volkswagen, to kind a brand new firm referred to as Bugatti Rimac.

The elevated funding comes at a time of accelerated development on the planet of e-bikes. Gross sales of e-bikes are rising sooner than conventional bikes in most main markets. The pandemic was an enormous issue, with gross sales growing 145 p.c from 2019 to 2020, greater than double the speed of non-motorized bikes, based on the market analysis agency NPD Group.

Porsche characterised the choice to take a controlling curiosity in Greyp as a part of its broader plan to put money into zero- and low-emission autos, together with plug-in hybrid autos and the all-electric Porsche Taycan. The corporate has stated it’ll have a carbon impartial “balance sheet” by 2030.

Porsche isn’t any stranger to the world of e-bikes. Earlier this yr, the automaker unveiled a pair of high-priced, full-suspension electrical mountain bikes, the Sport and the Cross.

The Sport is a highway bike supposed for on a regular basis use, with a full-suspension carbon fiber body, built-in entrance and hind lights, Shimano mid-drive motor, and a $10,700 price ticket. The Cross, which is extra for off-roading adventures, sports activities a Shimano mid-drive, carbon fiber body, and full suspension body, along with Magura-MT Path hydraulic disc brakes which might be extra-large and “heat resistant.” It weighs 48.7 kilos and retails for $8,549.

Porsche is the newest firm specializing in combustion engine autos to dip a toe into the world of electrical two-wheelers. Typically, while you hear about automobile firms releasing their very own electrical bikes, it’s only a model licensing deal. (Assume Jeep’s e-bike or these Hummer bikes from final decade.) Different occasions, it’s a much-hyped venture that finally ends up falling sufferer to bigger company cost-cutting, like Basic Motors’ Ariv e-bikes. However sometimes, one thing fascinating emerges, like Harley-Davidson’s not too long ago launched Serial 1 e-bikes.

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