ADVrider.com
The first time around, we gave you the VARG’s claimed performance details. Later, we gave you an update on the VARG’s presales, with a Stark saying that they had received more than 1,000 VARG orders in less than 24 hours.
The Stark VARG electric motocross bike. Photo: Stark
And now, it seems that the Indian motorcycle manufacturer Eicher Motors, the Parent company of Royal Enfiled, has taken notice. And they will be investing €50M for a 10 percent stake in Stark.
Eicher Motors says Royal Enfield will collaborate with Stark on electric motorcycles. The move should, over time, give Royal Enfield a more efficient means to introduce electric motorcycles into its product line.
The partnership is interesting, given that Royal Enfield says that it has made “…huge strides on its EV journey over the last few years…” But it seems there may be a significant way to go for the Indian motorcycle manufacturer before it is ready to launch its own electric motorcycle profit line. And the deal should help Royal Enfield as they gain access to some of Stark’s already-developed EV knowledge and multiple patents.
As a result of the deal, Eicher Motors will get a seat on Stark’s Board of Directors. They will also explore further opportunities to collaborate in the electric mobility space.
Eicher Motor’s Managing Director impressed.
It seems Eicher Motor’s is impressed with Stark. Its Managing Director Siddhartha Lal said:
“We love the vision, passion and focus of the amazing team at Stark Future. Leisure motorcycles do not easily lend themselves to EV technology at this stage, due to challenges like the battery range, packaging, weight and cost. This has resulted in stunted growth of this segment till now. Stark Future has been able to understand and harness the potential of EV technology by dramatically outperforming ICE offerings, without compromising on range, weight, packaging and cost. They have created an absolutely astounding motocross motorcycle – the Stark VARG as their entry into the EV world. We believe that Stark Future has the highest potential for real breakout growth in the EV leisure space with this model, and the potential to use this strong base to extend into other contiguous segments and beyond”
The Managing Director of Eicher Motors, Siddhartha Lal. Photo: Eicher Motors
If you ask what’s in it for Stark, there are plenty of upsides. Eicher Motors’ deep pockets can help fund Stark’s own development of its electric motorcycles. In addition, Royal Enfield’s global distribution network could very significantly increase Stark’s ability to expand to more markets with more models quickly.
Also, Royal Enfield’s decision to partner with Start them gives their yet-to-be-released VARG model some additional credibility. Finally, electric motorcycles are gaining momentum. But they are not yet fully adopted by many. The collaboration could help both companies in what is now becoming an increasingly crowded market space. All in all, this deal appears to be a win/win for both parties.
The post Eicher Motors Ponies Up €50M For A Stake In Stark appeared first on Adventure Rider.
