Eicher Motors, the parent company of Royal Enfield, has announced that it has acquired a 10.35% stake in the Spanish electric motorcycle company Stark Future SL. The Indian motorcycle giant has invested 50 million euros in a Spanish company specializing in the production of electric bicycles.
Eicher Motors says the partnership between both companies will help explore further opportunities in the field of electric mobility. Royal Enfield and Stark Future will work together to develop sustainable solutions in the global mobility sector, the company said.
Speaking about Stark Future and this partnership, Eicher Motors Ltd CEO Siddhartha Lal said: “We love the vision, passion and focus of the amazing team at Stark Future. Recreational motorcycles have not easily adapted to EV technology at this stage, due to challenges such as battery range, packaging, weight and cost. This has led to the segment’s slowing growth so far. Stark Future was able to understand and harness the potential of EV technology by significantly outperforming ICE offerings without compromising range, weight, packaging, and cost. They created an absolutely amazing motorcycle – the Stark VARG as they entered the world of electric vehicles. We believe Stark Future has the highest potential for real disruptive growth in the EV entertainment space with this model and the potential to use this solid foundation to expand into other adjacent segments and beyond. that’s it”
Speaking about the partnership, B Govindarajan, CEO – Royal Enfield, said: “We are delighted to be working closely with Stark Future, who have always been focused on challenging the norm, push boundaries and build unique differentiated services for riders. In addition to the huge potential of Future Stark, we see tremendous synergies in this partnership. While they are scaling and planning to enter the market soon, we will support Stark in industrialization. While they are considered leaders in electric vehicle technology, especially in terms of lightweight components and innovative solutions, we at Royal Enfield will leverage these capabilities to develop the platform. its electric vehicle and will also plan to share some of its electric vehicle platforms in the future.”
Speaking about the partnership, Anton Wass, Founder and CEO – Stark Future, said: “We look forward to challenging and inspiring the motorcycle industry by creating the Stark VARG. and by bringing our electrical technology from the drawing board to reality. Now, partnering with one of the first motorcycle brands in history and being part of their journey towards sustainability is a huge inspiration to us at Stark. We have now worked closely with Sid, Govind and the team for several months, and are deeply impressed with what they have created over the past 25 years, and the mindset and focus to continue building. and develop Royal Enfield in the future of sustainable motorcycles. With the Stark VARG, we believe we have a launch model that will reset the standards, so knowing the bike’s technical base will spread further and filter into more machines and products than another source of pride for us. It has been a short, intense and incredible journey for us so far but our bond with Royal Enfield and what awaits in the years to come are great signs for the future. future.”
Stark Future’s first product is the Stark VARG, an electric high-performance motorcycle that promises some interesting numbers. The electric mountain bike generates about 80 horsepower, while the weight is only 110 kg. The bike comes with a 6 kWh battery pack that can be fully charged in two hours via quick charging and offers up to six hours of battery life while on the trail.
This partnership opens new avenues for Royal Enfield as it will help with the company’s EV ambitions. The manufacturer also confirmed that it is developing electric motorcycles with “Royal Enfield’s strong DNA” and that lessons from Stark will help the brand build its future products.It will be interesting to see. whether the companies will come together to develop a new platform about expanding Stark’s current electric motorcycle platform to underpin future RE models The possibilities are endless and will help Royal Enfield quickly pursued its EV aspirations, and the partnership also allowed Stark to scale with access to the Indian company’s massive R&D and engineering capabilities.
First published date: December 30, 2022, 11:57 am IST