Prominent Singapore based electric motorcycle manufacturer EuroSports Technologies has reportedly partnered with SMRT’s fully owned subsidiary- Strides Transportation. This partnership is geared towards manufacturing, marketing and supplying smart electric motorbikes.
During its announcement to the Singapore Exchange, EuroSports Technologies stated that the two domestic firms have inked a memorandum of understanding (MoU). Under this MoU, Strides will become the sole distributor of commercial electric motorcycles across the country and Asia-Pacific region.
Reportedly, this MOU will be valid for one year till March 31, 2022.
According to credible sources, this new portfolio of two and three-wheelers will remain separate from the Scorpio brand, EuroSports’ premium range of electric motorbikes. These vehicles will supposedly be used for food delivery and logistics applications.
EuroSports Technologies which is the part of EuroSports Global, a listed sportscar company, is expected to launch the new commercial motorbikes by the fourth quarter of 2021, before the 2022 production of Scorpio.
Similar to Scorpio, these motorcycles are expected to offer smart features like Internet of Things connectivity, over-the-air software updates and in-house charging systems. However, they reportedly will provide fewer premium features, lower performance, and significantly lower price.
Speaking of the MoU, Melvin Goh, chief executive at EuroSports, stated that being the developer of Scorpio Electric, the first ever indigenous, high-performance smart electric motorcycle in Singapore, the company is looking forward to growing globally with Strides. This collaboration will widen company’s scope to tap unfulfilled potential markets for electric vehicle in the region, Goh added.
Meanwhile, Tan Kian Heong, SMRT Road Holdings president stated that the collaboration is part of the company’s plans to develop and grow in the electric vehicle ecosystem aimed at creating greener Singapore and South-east Asia.
Strides has supposedly been looking for more sustainable modes of transportation. Three years ago, the company had announced to incorporate Toyota hydrogen fuel cell cars in its fleet.
Eurosports Technologies had raised USD 8.5 million in funds in 2020 and is looking forward to raising another USD 15 million by end of 2021.