CHENNAI: Eicher Motors, the parent company of Royal Enfield, announced its decision to invest 50 million euros (about Rs 440 crore) in Spain-based Stark Future. With this investment, Eicher holds about 10.35% equity stake in the company and plans strategic collaboration in the electric motorcycle space.
This will pave way for collaborative research and development in electric motorcycles, technology sharing, technical licensing, and manufacturing, the firm said in a statement on Friday.
Leisure motorcycles don’t easily lend themselves to EV technology at this stage, said Eicher Motors managing director Siddhartha Lal. Lal pointed to the challenges such as the battery range, packaging, weight and cost and said this has resulted in stunted growth of this segment till now.