"Porsche has shut down three subsidiary companies, including Porsche eBike Performance and the Fazua e-bike motor brand. In April, Porsche sold its 45% stake in the Bugatti Rimac car group to HOF Capital, a New York-based venture capital firm, and the closures followed from there. The company's executive board chairman, Dr. Michael Leiters, said: "We must refocus on our core business. This is the indispensable foundation for a successful strategic realignment. This forces us to make painful cuts, including our subsidiaries.""
"Specialized has permanently dropped prices across its entire Turbo Levo lineup. Reductions range from 6% to 27%, with the top-end Turbo Levo R S-Works falling from $15,650 down to $11,500. There's also a credit program for riders who bought recently."
"About 3,000 helmets sold through Amazon and Temu don't meet mandatory safety standards and need to be destroyed. We have the details on how to get a refund below. On a more positive note, PeopleForBikes and the Motorcycle Safety Foundation are offering their e-bike safety course for free for the rest of May. It normally runs $35.99, covers the basics plus road rules and practice drills, and takes about 90 minutes."
Porsche shut down Porsche eBike Performance and the Fazua e-bike motor brand, citing fundamentally changed market conditions for e-bike drive systems. Porsche stated it needed to refocus on its core business and made painful cuts that included subsidiary closures. Specialized permanently reduced prices across its entire Turbo Levo lineup by 6% to 27%, with the Turbo Levo R S-Works dropping from $15,650 to $11,500, and offered a credit program for riders who bought recently. Two helmet recalls were issued for about 3,000 helmets sold through Amazon and Temu that do not meet mandatory safety standards and must be destroyed. PeopleForBikes and the Motorcycle Safety Foundation offered a free e-bike safety course for the rest of May, covering road rules and practice drills in about 90 minutes.
Read at Electric Bike Reviews, News, & Testing
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