Stark Future SL partners with Eicher Motors to build electric motorbikes
Stark Future SL, located in Spain, and Eicher Motors Ltd., a major Indian multinational automaker and parent company of Royal Enfield, the market leader in the mid-weight bikes sector (250cc-750cc), announced a strategic partnership in the field of electric motorcycles.
The Board of Directors of Eicher Motors Ltd. approved an investment of €50 million for a nearly 10.35 percent ownership share in Stark Future as part of this partnership, the firm said in a release.
Eicher Motors Ltd. will join Stark Future’s board as a result of this investment, and the company will look into more potential for cooperation in the field of electric mobility.
Both Royal Enfield and Stark Future, who are heavily involved in developing novel and sustainable solutions for international mobility, may benefit strategically from this investment.
The Stark VARG, the first high-performance electric motocross bike from Stark Future, was just released, and dealers, professional riders, and the media all responded extremely well to it.
According to Siddhartha Lal, managing director of Eicher Motors Ltd, while discussing Stark Future and this alliance, leisure bikes do not now lend themselves well to EV technology because of issues with battery range, packaging, weight, and cost.
This has prevented this segment’s expansion up to now. As their debut into the EV world, they have developed the extremely incredible Stark VARG motocross motorbike. With this approach, Stark Future, in our opinion, has the best chance of seeing true breakout growth in the EV leisure market. It also has the opportunity to leverage this solid foundation to expand into other adjacent markets and beyond.
- Govindarajan, CEO of Royal Enfield, who is in charge of business operations, stated that this is a perfectly symbiotic partnership and that the company is eager to work closely with Stark Future because they share our focus on defying convention, pushing the envelope, and creating offerings for riders that are distinctively different.
The CEO said, We at Royal Enfield will rely on these skills for building our EV platforms and will also seek to share certain EV platforms in the future. They are thought leaders in EV technology, notably in lightweight components and novel solutions.
Speaking about this partnership, Stark Future Founder and CEO, Anton Wass said, “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. 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”.
