Croatian electric bike manufacturer Greyp Bikes has a new majority shareholder: Porsche. The sports car manufacturer’s venture capital arm, Porsche Ventures, has held a stake of around 10 percent in the e-bike company since 2018.

Greyp (pronounced like the fruit) was founded Mate Rimac — aka “Croatia’s Elon Musk” — the brainchild behind electric supercar startup Rimac Automobili. The company makes highly connected, extremely powerful electric mountain bikes, including the $10,000 flagship, full-suspension G6. The company sells its bikes in Europe and recently launched its US operations based in San Pedro, Calif.

The investment is another sign of Porsche’s confidence in Rimac’s business prowess

The investment is another sign of…

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