Motorcycles that are powered by electric batteries are about to go to the next level in Europe.
What’s happening:
- Spanish electric motorcycle company Stark Future has secured a new €40M credit facility from The European Investment Bank
Why it matters:
- The new funding will accelerate research and development around Stark Future’s electric motorcycles, which have promising potential to be widely adopted by motorcycle riders and operate without any carbon dioxide emissions
- Stark Future is one of the fastest growing startups in the history of Spain and is currently the largest manufacturer of electric motorcycles globally, outside of companies who produce electric scooters
By the numbers:
- Stark Future’s electric motorcycles have up to 80 horsepower and can be ridden for up to 6 hours straight without a single battery charge
- The electric battery that powers all Stark Future motorcycles is expected to maintain up to 80% capacity even after 1000 full charge and discharge cycles, which would give it significantly more longevity than a traditional combustion engine motorcycle
- Stark Future’s electric motorcycles are now available in 50 countries globally
Going deeper:
- The European Investment Bank is focused on long term lending agreements with companies who are in alignment with policies that have been established by the European Union such as climate change, renewable energy and sustainability
- While Stark Future currently produces electric motorcycles that are meant for trail riding, they are planning to launch their first ever models that are road legal and capable of being operated on city streets in the near future
The intrigue:
- One of India’a largest publicly traded motorcycle and commercial vehicle manufacturers Eicher Motors previously took a major equity stake in Stark Future
