Eicher Motors, Stark Future collaborate to develop leisure electric motorcycle segment

30 Dec 2022 , 10:39 AM

Eicher Motors announced a strategic partnership with Spain’s Stark Future SL on Thursday to jointly develop the leisure electric motorcycle segment.

As part of this collaboration, Eicher Motors’ Board of Directors approved a € 50 million investment for a nearly 10.35% equity stake in Stark Future.

With this investment, Eicher Motors will gain a seat on Stark Future’s Board of Directors and will look for additional opportunities to collaborate in the electric mobility space.

Stark Future S.L. is a European electric motorcycle manufacturer founded in July 2020 in Barcelona, Spain, with a specific focus on performance electric motorcycles. It strives to create long-lasting products that outperform traditional technology in terms of performance, emotion, and design.

This investment will pave the way for a long-term collaboration in collaborative research and development, technology sharing, technical licensing, and manufacturing of electric motorcycles, stated Eicher Motors in its exchange filing on Thursday.

The Transaction Documents will be executed and closed by the first quarter of 2023.

On December 14, 2021, Stark Future released their motocross bike, VARG. Stark Future has begun pre-ordering the bikes and expects to begin commercial production in the first half of 2023.

At around 10.35 AM, Eicher Motors was trading at Rs3,251.30, down by 0.91% against previous close of Rs3,281.20 on NSE. The counter hit an intraday high and low of Rs3,298 and Rs3,240 respectively.

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