Eicher Motors Ltd, the parent company of Royal Enfield, made a massive step towards electrification after announcing a strategic partnership with Spain-based Stark Future SL.
- Eicher Motors Ltd has acquired some stake in Stark Future.
- Stark Future is a Spanish-based electric motorcycle company.
The collaboration involved an equity investment of EUR50 million, which entails to 10.35 per cent stake in Stark Future. The acquisition also puts Eicher Motors Ltd to have a director seat on the board.
All business matters aside, the partnership will explore the vast opportunity of electric mobility, which Stark Future was vying for when the company debuted its first high-performance motorcycle, the Stark VARG electric motocross.
That said, it will be an exciting development between the two companies as Stark Future already has several patents while Royal Enfield is also working on its electric motorcycle concept called Electrik01.
One thing is for sure, Eicher Motors Ltd Managing Director Siddartha Lal is excited about the new partnership.
“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,” he said.
The Stark VARG has quite an interesting spec sheet, particularly the electric motor that’s capable of producing 80hp and 938Nm and can be ridden up to six hours.
