"Porsche is shutting down its electric bicycle subsidiary Porsche eBike Performance GmbH, closing factories in Ottobrunn, Germany and Zagreb, Croatia, putting around 350 employees out of work. The German automaker launched its e-bike offshoot in August 2022 with plans to develop components like motors and batteries. Porsche said in a press release that the e-bike division was created to make “high-performance e-bike drive systems and market them worldwide,” but added that market conditions have changed."
"Porsche eBike Performance created several e-bikes during its short run, including the Porsche eBike Sport for road rides and the Porsche eBike Cross for off-road adventures. The eBike Sport even made it to its fifth generation, despite the $10,920 starting price tag. The shutdown ends the company’s effort to build and sell performance-focused e-bike drive systems and related products."
"Porsche is shutting down more than just its e-bike program. The company's CEO, Michael Leiters, said it was also shuttering Cellforce Group GmbH, its battery cell subsidiary, and Cetitic GmbH, a software company used by Porsche and The Volkswagen Group, as part of its decision to “refocus on our core business.” Porsche has been steadily electrifying its vehicle portfolio, but also recently decided to sell its minority stake in Bugatti Rimac, a joint venture created between Porsche and the Rimac Group."
Porsche is discontinuing its electric bicycle subsidiary, Porsche eBike Performance GmbH, and closing factories in Ottobrunn, Germany, and Zagreb, Croatia, affecting about 350 employees. The company launched the e-bike unit in August 2022 to develop and market high-performance e-bike drive systems worldwide, including motors and batteries. Several e-bike models were produced, such as the Porsche eBike Sport for road riding and the Porsche eBike Cross for off-road use, with the Sport reaching a fifth generation. Porsche also plans to shut down Cellforce Group GmbH, its battery cell subsidiary, and Cetitic GmbH, a software company serving Porsche and the Volkswagen Group, citing a need to refocus on core business. Porsche has also sold minority stakes in Bugatti Rimac and The Rimac Group.
#electric-bicycles #battery-technology #corporate-restructuring #porsche #software-and-automotive-systems
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