Eicher Motors Limited an Indian multinational automobile company, and parent company of Royal Enfield, on Thursday announced a strategic collaboration in the space of electric motorcycles with Spain-based Stark Future SL through an exchange filing.
As part of this collaboration, the Board of Directors of Eicher Motors approved an investment of € 50 million for a close to 10.35 per cent equity stake in Stark Future. With this investment, the company 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 for 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.
Speaking about Stark Future and this partnership, Eicher Motors, Managing Director, Siddhartha Lal says, "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, or cost. They have created an absolutely astounding motocross motorcycle - the Stark VARG as their entry into the EV world.”
At the helm of affairs at Royal Enfield, B Govindarajan, CEO of the company, feels this is a perfectly symbiotic partnership, and says, “While they are thought leaders in EV technology, particularly in light-weight components and innovative solutions, we at Royal Enfield will draw on these capabilities for developing our EV platforms and will also plan to share some EV platforms in the future.”
Also speaking about this partnership, Stark Future Founder and CEO, Anton Wass says, “We aimed to challenge and inspire the motorcycle industry with the creation of the Stark VARG and by bringing our electric technology from the drawing board to reality. To now partner with one of the very first motorcycle brands in history, and be part of their journey towards sustainability is a huge inspiration for us at Stark.”
What is Stark Future?
Stark Future is a European electric motorcycle manufacturer with specific focus in the area of performance electric motorcycles. With a vision to inspire the motorcycle industry towards sustainable mobility, Stark Future endeavors to build sustainable products that are superior to traditional technology in performance, emotion & design. Stark Future has deep understanding in the EV space and connected technology, with several patents on its newly developed Stark VARG.
Royal Enfield and EV
Royal Enfield has made huge strides on its EV journey over the last few years. The company’s R&D programmes have included a major focus on sustainable mobility technologies, and there are several ideas in advanced stages of testing. The company has been aggressively building a sharp and insightful understanding of the EV space with an intention to create uniquely differentiated electric motorcycles with strong Royal Enfield DNA, in the midweight segment. Royal Enfield has been building several thoughts and approaches towards design and development and also towards bringing in the right talent and resources.
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