Eicher Motors buys 10.35% stake in Spain's EV bike maker Stark Future for $53.6 M

Gurgaon-based, publicly listed Eicher Motors, the parent company of motorcycles brand Royal Enfield, has acquired a 10.35% equity stake for a cash investment of EUR 50 million (about USD 53.6 million) in Barcelona, Spain-based Stark Future SL for collaboration in the electric motorcycles space. With this investment, Eicher Motors will have a seat on Stark Future's board. Stark Future recently launched its first high-performance electric motocross bike, the Stark VARG. VARG has garnered over 17,300 bookings in the last 11 months across three major markets - USA, Western Europe and Australia. The commercial production of the VARG is expected to commence in the first half of 2023.