Porsche acquires majority stake in Croatian electric bike maker Greyp

 Porsche acquires majority stake in Croatian electric bike maker Greyp

Porsche – a brand known for its performance automobiles, has decided to go ahead and invest in a leading electric bicycle manufacturer. As a result of this acquisition. Porsche has now gained control of most Croatian-based Greyp Bikes.

Since 2018 Porsche, has invested in Croatian electric bike manufacturer Greyp.

The expansion of Porsche’s shareholding in Greyp occurs within a potential increase of activities in the electric bicycle segment. 

Porsche has recognized the market and tech potential of Greyp. And has decided to strengthen its position within its structure additionally. 

In addition to Porsche as the new majority shareholder, Mate Rimac. And other Greyp founders will retain their existing shares. According to the Greyp Shareholders Agreement. The transaction needs to be finalized by December 18th, 2021.

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Mate Rimac, CEO of Rimac Group, stated:

“I have always believed that Greyp has the potential to be a hugely successful, world-class company and one of the leaders of the industry.” 

“I am super proud of the Greyp team, led by Krešimir Hlede. And what they have built over the last seven years. 

The 100-people strong team has undoubtedly created the most connected and technologically advanced e-bikes on the market, set up series production in Sveta Nedelja and shipped bikes worldwide.

At the same time, Greyp has been in the shadow of Rimac and could never flourish in its full potential.

Now, we are starting an exciting new chapter in the company’s history.With Porsche buying the majority stake in Greyp. It will be the seed for something great and big, but we’ll talk about that another time.

The deal is still in final execution, so I can’t say much yet, but here are a few things that I can say:

Greyp will have a robust and growing presence in Croatia

We want to do big things. Otherwise, Porsche and we would not be doing this.

It will secure an excellent future for Greyp employees and bring tremendous value for Croatia as another proof of being an electric vehicle R&D hotspot.

I will remain a minority shareholder. While I will focus my time entirely on the Rimac Group. I will still be involved with Greyp and help where I can.

All token-holders of Greyp will be taken care of – will communicate this in detail soon.

I am looking forward to sharing more information soon. As this new constellation is going to be super-positive for everyone involved”.

Porsche investment

The Porsche investment will surely accelerate further research and development in all e-mobility. And connected technology within Greyp and comes as a confirmation of Greyp’s vision of micro-mobility. Which redefines the user experience of e-biking through software and IoT. 

Through the sharing of know-how, resources, and Porsche’s proven pioneering spirit in mobility, the two companies aim to increase Greyp’s operations. Particularly in R&D significantly, to make mobility more fun, practical, and safe for their users.

Micro-mobility will play a significant role in the future of transport, and Greyp, as part of the Porsche family, will be one of the main protagonists in this electrifying and thrilling narrative.

via Electrek and Greyp

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