Eicher Motors To Collaborate With Electric Mobility Company, Stark Future
The Board of Eicher Motors Ltd. has approved a strategic investment in, and plans for collaboration with European, high-performance electric motorcycle manufacturer Stark Future. They will Make initial equity investment of € 50 million, translating to close to 10.35 per cent equity stake in Stark Future SL.
The Board of Eicher Motors Ltd., the parent company of Royal Enfield, has approved a strategic investment in, and plans for collaboration with European, high-performance electric motorcycle manufacturer Stark Future.
Eicher Motors Ltd., a leading Indian multinational automobile company, and parent company of Royal Enfield, a global leader in the mid-weight motorcycles segment (250cc-750cc), announced a strategic collaboration in the space of electric motorcycles with Spain-based Stark Future SL. As part of this collaboration, the Board of Directors of Eicher Motors Ltd. has today approved an investment of € 50 million for a close to 10.35 per cent equity stake in Stark Future. With this investment, Eicher Motors Ltd., will have a seat on Stark Future’s Board and will explore further opportunities to collaborate in the space of electric mobility.
This investment has strategic significance for both Royal Enfield and for Stark Future, as both companies are keenly invested in creating innovative and sustainable solutions in global mobility. Stark Future recently launched its first high performance electric motocross bike, the Stark VARG, which received an exceptional response from global media, professional riders and dealers.
As part of this collaboration, the Board of Directors of Eicher Motors Ltd. has today approved an investment of € 50 million for a close to 10.35 per cent equity stake in Stark Future.
Speaking about Stark Future and this partnership, Eicher Motors Ltd Managing Director, Siddhartha Lal says, “We love the vision, passion and focus of the amazing team at Stark Future. Leisure motorcycles do not easily lend themselves to EV technology at this stage, due to challenges like the battery range, packaging, weight and cost. This has resulted in stunted growth of this segment till now.”
“Stark Future has been able to understand and harness the potential of EV technology by dramatically outperforming ICE offerings, without compromising on range, weight, packaging and cost. They have created an absolutely astounding motocross motorcycle – the Stark VARG as their entry into the EV world. We believe that Stark Future has the highest potential for real breakout growth in the EV leisure space with this model, and the potential to use this strong base to extend into other contiguous segments and beyond.”
Editor’s Note: If you are reading this article on any website other than BikeReview.com.au, please report it to BikeReview via our contact page, as it has been stolen or re-published without authority.
