In a bid to accelerate its move into the electric vehicle space, Eicher Motors, the parent company of Royal Enfield, has approved a strategic investment in the European high-performance electric motorcycle manufacturer Stark Future SL.
As part of the deal, Eicher Motors will make an initial equity investment of €50 million, translating to close to 10.35 percent equity stake in Stark Future SL, the company said in a statement on Dec 29.
With this investment, Eicher Motors will have a seat on Stark Future's Board and will explore further opportunities to collaborate in the space of electric mobility.
This investment will pave the way for a long-term partnership in collaborative research and development in electric motorcycles, technology sharing, technical licensing and manufacturing Eicher Motors, the statement from the company added.
Royal Enfield will be co-developing with Stark various lightweight components and innovative solutions for EV platforms. Both the companies may also plan to share electric vehicle architectures in the future.
This story is from the 1st January 2023 edition of Autocar Professional.
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This story is from the 1st January 2023 edition of Autocar Professional.
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