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.
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