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Eicher Motors
Eicher Motors Ltd on Thursday said it will acquire a 10.35 per cent equity stake in Spanish electric motorcycle maker Stark Future for 50 million euros (over Rs 440 crore). The acquisition is part of a strategic collaboration in the electric motorcycle space with Stark Future SL, said Eicher Motors, the parent company of Royal Enfield, a mid-weight motorcycle manufacturer. The Board of Directors of Eicher Motors Ltd at its meeting held on Thursday "approved an investment of euro 50 million for a close to 10.35 per cent equity stake in Stark Future", the company said in a statement. With this investment, Eicher Motors will have a seat on Stark Future's Board, and will explore further opportunities to collaborate in the space of electric mobility, it added. The investment will pave the way for a long-term partnership in collaborative research and development in electric motorcycles, technology sharing, technical licensing and manufacturing, the statement said. Eicher Motors Ltd Mana
Eicher Motors on Thursday said its joint venture with Volvo Group -- VE Commercial Vehicles -- posted 20 per cent rise in total sales at 4,903 units in November. VE Commercial Vehicles (VECV) sold 4,085 units in the same month last year, the company said in a regulatory filing. Domestic sales of Eicher brand of trucks and buses were at 4,483 units as against 3,184 units in the year-ago period, a growth of 40.8 per cent. Exports were down 69.7 per cent at 237 units from 783 units last year, it added. Total sales of Volvo trucks and buses grew 55.1 per cent to 183 units as compared to 118 units in the preceding year, it said.