On Thursday 29 December, Eicher Motors Ltd announced a strategic investment and collaboration with Spain-based Stark Future SL to advance the electric motorcycle space. Two-wheelers account for 20% of India’s total carbon dioxide emissions, due to which many companies are investing heavily in electric vehicles.
Royal Enfield’s parent company Eicher Motors will buy a 10.35% equity stake in Stark Future SL by making an initial equity investment of €50 million. The share price of Eicher Motors rose by 2.17% to Rs 3490.75 after Eicher Motors announced the acquisition of a 10.35% stake in Stark Future SL.
According to the Indian government plan, the electric vehicle market in India will touch $100 billion by the year 2030. The FAME (Faster Adoption and Manufacturing of Hybrid & Electric Vehicles) scheme came in the year 2015 and the Government of India is continuously bringing several policies to promote electric vehicles.
Eicher Motors stock has given a return of 24.53% to investors in the last year. According to reports, about 74% of the total registered vehicles in India are two-wheelers, which means that two-wheelers dominate the vehicle market in India.