The German car manufacturer Porsche has announced the closure of its Porsche eBike Performance GmbH unit, which focused on electric bicycles. Established in August 2022, the division aimed to innovate in areas such as electric motors and power packs. Following close to four years in business, Porsche plans to wind down the operation, resulting in the shutdown of facilities in Ottobrunn, Germany, and Zagreb, Croatia, and impacting approximately 350 staff members.
According to a statement from Porsche, the subsidiary was formed to produce advanced propulsion systems for e-bikes and distribute them globally, though evolving industry dynamics prompted the change. Over its brief existence, the team developed models like the road-oriented Porsche eBike Sport, which reached its fifth iteration despite a base cost of $10,920, and the trail-suited Porsche eBike Cross.
This move extends beyond the e-bike initiative, as Porsche's chief executive, Michael Leiters, indicated the company is also terminating Cellforce Group GmbH, responsible for battery development, and Cetitic GmbH, a software firm serving both Porsche and the Volkswagen Group, to prioritize primary automotive activities. While advancing electrification across its lineup, Porsche recently divested its partial ownership in Bugatti Rimac, a collaboration with the Rimac Group, and its lesser holding in Rimac itself, even after committing substantial funds to the high-end electric sports car enterprise.