Porsche announces it is abandoning its major e-bike ambitions

Porsche is pulling the plug on a major chunk of its electric bicycle ambitions, with the German automaker announcing plans to shut down its e-bike motor division and cut hundreds of jobs as it refocuses on its core sports car business.

The move will impact around 360 employees in Germany and Croatia. While Porsche didn’t specify exactly which subsidiaries are being hit hardest, it appears likely that the cuts will largely affect two of the company’s biggest e-bike acquisitions: German mid-drive motor maker Fazua and Croatian smart e-bike company Greyp.

Porsche acquired a majority stake in Fazua back in 2022, seeing the lightweight drive system company as a key part of its future in premium electric bicycles. Fazua had carved out a niche with sleek, low-weight e-bike motors used by brands focused on performance-oriented urban and road e-bikes.

That same year, Porsche also increased its ownership stake in Greyp, the connected e-bike company founded by Mate Rimac of Rimac Automobili fame. Greyp became known for its high-tech electric bikes packed with cameras, connectivity, and automotive-style software features.