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| Royal Enfield Invests 10.5 Percent Share In Spanish Electric Motorcycle Company. |
LYLY - Eicher Motors, the parent company of Royal Enfield, has announced that it is acquiring a 10.35 percent equity stake in Spanish electric motorcycle company Stark Future SL.
The Indian motorcycle giant has invested 50 million Euros in a Spanish company which specializes in manufacturing electric dirt bikes.
Eicher Motors says that the collaboration between the two companies will help explore further opportunities in the electric mobility space.
Royal Enfield and Stark Future will work together to develop sustainable solutions in global mobility, the companies said.
“We are excited to collaborate closely with Stark Future who is as focused as we are on challenging norms, pushing boundaries and building uniquely differentiated offerings for riders. In addition to the huge potential of Stark Future, we see enormous synergy in this partnership," said Royal Enfield CEO B Govindarajan.
Stark Future's initial offering is the Stark VARG, a high-performance electric motor that produces around 80 bhp and is equipped with a 6 kWh battery pack that can be fully charged in two hours via fast charging and provides up to six hours of battery life when biking on trails.
Deliveries for the Stark VARG will start in 2024. This collaboration breaks new ground for Royal Enfield as it will help the company's electric vehicle ambitions.
The manufacturer also confirmed they are working on an electric motorcycle with "robust Royal Enfield DNA" and the learnings from Stark will help the brand build its future products. This was broadcast by the Hindustan Times, Friday (30/12).