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Porsche becomes majority shareholder in Croatian electric bike company

Written by  The Dubrovnik Times Nov 19, 2021

After an initial 10 percent stake in Rimec's company, Greyp, Porsche decided to increase its ownership and they became majority owners, the company said.

Porsche invested in this company that manufactures electric bicycles at the same time as they invested in Rimac Automobile, but now they have further increased the figure due to, as they say, interest in expanding activities in the field of electric bicycles.

Mate Rimac, CEO of the Rimac Group, commented that he has always believed that Greyp has the potential to be an extremely successful world-class company and one of the industry leaders.


"I am super proud of the Greyp team, led by Krešimir Hlede, and what they have built in the last seven years. The team of 100 people has undoubtedly created the most connected and technologically advanced e-bikes on the market, started mass production in Sveta Nedelja and delivered bikes all over the world. At the same time, Greyp was in the shadow of Rimac and could never flourish to its full potential,” Rimac stated.

Further, he explained that he still has stakes in the company, even though Porsche is the majority owner, so he adds that the deal is still in the final realization so he cannot say more at this time.

"Greyp will have a very strong and growing presence in Croatia. We want to do great things; otherwise Porsche would not enter into this venture. It will ensure a great future for Greyp employees and bring great value to Croatia as another proof that Croatia is a place of research and the development of electric vehicles. I will remain a minority shareholder. Although I will focus my time entirely on the Rimac Group, I will continue to be involved in Greyp and help wherever I can,” he concluded.

The Voice of Dubrovnik


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