Porsche completed the acquisition of a 20% stake in Fazua.

Porsche, an automotive company, completed the acquisition of a 20% stake in Fazua, a developer of an e-Bike drive system. Financial terms were not disclosed. The company from Ottobrunn near Munich was founded in 2013 and is a pioneer in the development of lightweight, compact drive technologies. It established the new category of "light eBikes" and today employs more than 100 people. More than 40 renowned brands already rely on Fazua's technologies. The parties have agreed not to disclose the purchase price.