The parent firm of Royal Enfield, Eicher Motors Ltd., recently disclosed a strategic partnership with Stark Future SL of Spain. The board of Eicher Motors Ltd. approved a €50 million initial equity investment. This entails a stake in Stark Future’s equity of around 10.35%. On the board of Stark Future, Eicher Motors Ltd. will hold a director position.
Such a development adds to the growing number of brilliantly intriguing spaces. The mid-segment is where Royal Enfield has built its reputation. Additionally, this partnership will look at potential in electric mobility. Both Royal Enfield and Stark Future are passionate about developing solutions for global mobility. Recently, the manufacturer unveiled Stark VARG, its first high-performance electric motocross bike.
The goal of Stark Future is on high-performance electric motorcycles that promote sustainable transportation. The maker owns a number of patents on its recently created Stark VARG. Sustainable mobility technologies are a focus of Royal Enfield’s R&D initiatives as well. Consequently, numerous concepts are currently undergoing advanced testing. Plans for Royal Enfield electric motorcycles made headlines earlier this year. Additionally, Electrik01, an idea, was leaked.
The startup wants to provide distinctively different electric motorcycles for the midweight market. a division where the business takes the initiative. The investment lays the groundwork for a long-term partnership in the development of electric motorcycles. This includes sharing technologies, obtaining technical licences, and manufacturing.
Eicher Motors Ltd Managing Director, Siddhartha Lal said that, “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.”
