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Eicher Motors To Invest € 50 Million in Spain’s Stark Future
By investing this amount, Eicher Motors will be now holding about 10.35% equity stake in the company and will plan strategic collaboration in the electric motorcycle space
Photo Credit : Royal Enfield Official Website
The investment, Eicher Motor says, will create new aspects in Electric motorcycle market
Eicher Motors, the parent company of Royal Enfield, has announced its decision to invest 50 million euros (about Rs 440 crore) in Spain-based Stark Future. This was officially announced through a statement on Friday.
By investing this amount, Eicher Motors will be now holding about 10.35% equity stake in the company and will plan strategic collaboration in the electric motorcycle space. The motorcycle manufacturer said that this will further pave the way for collaborative research and development in electric motorcycles, technology sharing, technical licensing, and manufacturing.
Eicher Motors managing director Siddhartha Lal said that Leisure motorcycles don't easily lend themselves to EV technology at this stage. Lal mentioned the challenges such as the battery range, packaging, weight and cost and said this has resulted in stunted growth of this segment till now.
The company now hopes that this new collaboration will make a strong impact on the electric motorcycle market.