ContiTech Acquires Benchmark To Boost E-Bike Business
Electric bikes could become the world’s most popular transportation solution in the coming decade, and automakers know it, leading to a flurry of e-bike concepts in the past year. Automotive parts suppliers are also paying attention. Green Car Congress reports that with Germany’s Continential AG, or just ContiTech, acquiring e-bike drive maker Benchmark in a move to prepare for an e-bike dominated future.
The two companies have long been partners, with ContiTech and Benchmark even presenting a complete e-bike drive system last year. Since 2012, the duo have been selling the Conti Drive System, which replaces the traditional bike chain with a timing belt of sorts. This eliminates the need for frequent chain lubrication, which ContiTech spins as more environmentally friendly.
Both companies are heavily involved in the growing e-bike market, which stands to see a lot of consolidation over the next decade. With Benchmark now firmly in ContiTech’s corner, it’ll be interesting to see what the combined brainpower comes up with.