Porsche scales up e-bike investment with two new companies
Porsche has shared details of two e-bike joint ventures it announced earlier this year. It’s just one example of the e-bike frenzy sweeping Europe, one of the strongest mobility trends to emerge from the pandemic – with Germany as the leader.
The German automaker first revealed plans to establish two joint ventures in early 2022, when it partnered with Ponooc Investment BV, a Netherlands-based company providing sustainable energy and mobility solutions.
R&D and manufacture
Porsche has now shared more details about these two companies:
- Porsche eBike Performance GmbH will focus on the R&D of e-bike components.
- P2 eBike GmbH will manufacture e-bikes, based on the technology developed by the first company.
Porsche says its ambition with these two companies is to develop forward-looking and customer-oriented ventures, eventually to develop products that inspire people through intelligent design, sophisticated technology and outstanding performance.
The OEM aims to penetrate various segments in the e-bike market, and is a stakeholder in Greyp Bikes, a Croatian manufacturer of high-tech e-bikes. Last year, Porsche released two e-bike models: the Porsche eBike Sport and the Porsche eBike Cross, priced at $10,700 and $8,549, respectively.
$18.26 billion in 2027
These models are at the high end of a market that is rapidly expanding. According to Mordor Intelligence, the European e-bike market will be worth $18.26 billion by 2027. The market surge, which is giving rise to increasing competition, is the result of the cycling boom that was triggered by the pandemic – and that looks to be a long-lasting change in the European lifestyle.
- The European Cyclist’s Association (ECA) says the volume of bicycle lanes in European cities in 2021 had increased by between 11% and 48% compared to before the Covid-19 pandemic.
- The increase in cycling has pushed e-bike leasing, especially in the Netherlands, where 36% of the population bike daily.
- A surge in food delivery services is increasing the number of cargo bikes, while research revealed that cargo bikes can be 1.6 times faster than vans for last-mile deliveries.
And then there’s the positive impact e-bikes can have for reducing CO2 emissions, especially in the context of new urban mobility and last-mile deliveries. E-bikes could turn out to be a relatively easy way to roll out an environmentally-friendly mobility solution.
This is what has motivated a number of luxury OEMs to enter this field. In January, Bugatti revealed an electric scooter model – its first-ever EV. Porsche on its part entered the e-bike market via collaborations with Rotwild and Fazua GmbH.
And now, the Stuttgart-based OEM is deepening its investments with two new companies – and taking advantage of Fazua’s expertise in e-bike marketing.
Of course, Porsche is not just looking at e-bikes. It has also increased electrification investments in other segments, announcing the plan to establish an exclusive EV charging network in Europe for Porsche drivers, from next March.