Porsche, an automotive company, agreed to acquire the remaining 80% stake in Fazua, a developer of an e-Bike drive system. Financial terms were not disclosed. “In Fazua, we have found a strong partner with a great deal of experience in the bicycle industry. Fazua is known among experts as the founder of the ‘light eBikes’ category – and it’s a highly innovative company that fits perfectly with the pioneering spirit of the Porsche brand," Lutz Meschke, Porsche Deputy Chairman of the Executive Board.