Porsche and Ponooc formed a joint venture.

Porsche, an automotive company, and Ponooc, a venture capital fund, formed a joint venture that will be active in the field of electric mobility. Financial terms were not disclosed. The first joint venture is to develop, manufacture and distribute a future generation of high-quality Porsche eBikes. The second company will focus on technological solutions in the fast growing micro mobility market. "We see great potential for Porsche in the eBike segment. This is why we are consistently expanding our activities in this areaю Jan Becker and Moritz Failenschmid are proven experts when it comes to setting up and developing forward-looking and customer-oriented ventures. As part of a highly skilled and motivated team, they will prove this in the two joint ventures. As is characteristic of Porsche, it's all about developing products that inspire people through intelligent design, sophisticated technology and outstanding performance," Lutz Meschke, Porsche Deputy Chairman of the Executive Board.