Last year, Porsche expanded its electric bike business by investing a 20 percent stake in FAZUA and eventually acquired the remaining shares of the ebike drivetrain manufacturer earlier this summer.

Fazua manufactures a variety of intriguing electric bicycle drives and parts, but its standout product is an e-bike drive that enables both the motor and battery to be detached entirely from the bicycle. Porsche eBike Performance GmbH will likely make extensive use of the technology created by FAZUA.

After the majority takeover of Greyp and the complete takeover of e-bike motor manufacturer FAZUA, Porsche is now planning to manufacture electric bicycle motor under its own brand.

According to a company statement, Porsche will now create "powerful" new electric bicycle motors under the Porsche nameplate, except for continuing to develop the FAZUA electric bicycle drive system.

Motors, batteries, and the software architecture required for connectivity solutions are all part of future Porsche systems. P2 eBike GmbH- powered by Porsche, based in Stuttgart, plans to use these drive systems to launch a new generation of Porsche ebikes as early as 2025.

In addition to incorporating those motors into Porsche's e-bikes, the company intends to license the technology to other manufacturers around the world.

"We see great potential for Porsche in the e-bike segment. This is why we are consistently expanding our activities in this area,"said Lutz Meschke, deputy chairman of the Porsche AG executive board. "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."