- EuroSports Technologies to develop and supply smart electric motorcycle ecosystem
- Strides Transportation will be sole distributor of the smart electric motorcycles
- Synergistic partnership to capitalise on the global acceleration of electric vehicle adoption
EuroSports Global Limited (“EuroSports” or the “Company” and together with its subsidiaries, the “Group”), a leading distributor of luxury automobiles and premium smart electric motorcycles innovator, announced today that its subsidiary, EuroSports Technologies Pte. Ltd. (“EST”), and Strides Transportation Pte. Ltd. (“Strides”), have signed a Memorandum of Understanding (“MOU”) to develop, market and supply smart electric motorcycles for commercial and corporate clients.
Leveraging EST’s expertise in premium smart electric motorcycles design and manufacturing, the partnership will see EST develop and supply a smart electric motorcycle ecosystem (“SEME”). The SEME will encompass the development of electrified small-format mobility, the two-wheel EVs (E2Ws) and three-wheel EVs (E3Ws), equipped with smart riding features as well as supporting systems such as in-house charging stations.
Strides, which is committed to the business of developing sustainable urban mobility services, will be the sole distributor of the smart electric motorcycles in Singapore and the Asia Pacific region.
Mr Melvin Goh, Executive Chairman and CEO of EuroSports, said, “This is a momentous milestone for the Group as this partnership attests to our relentless focus on technological innovation and product quality in sustainable mobility solutions. As the creator of Scorpio Electric, the first Singapore home-grown high performance smart electric motorcycle, we are proud to fly our flag high in the international scene with Strides. The collaboration will broaden the scope of our reach to tap the unfulfilled potential of regional EV markets.”
Mr Tan Kian Heong, President, Strides Mobility, said, “We are glad to partner EST, which is committed to developing cleaner-energy vehicles. This collaboration is part of our plans to build businesses in the electric vehicle ecosystem towards a greener Singapore and South-east Asia region. As Strides strives to constantly innovate for sustainable mobility services, we look forward to working closely with EST to make this partnership a fruitful venture.” Global sales of electric vehicles (EVs) are increasing mainly due to governments’ crack down on emissions, improving charging infrastructure, and innovative battery technologies. According to McKinsey in October 2020, the market for E2Ws and E3Ws was valued at around US$97 billion, or 4% of global auto sales. By 2022, global sales of E2Ws and E3Ws could reach US$150 billion and the electrification in the scooter and light-motorcycle segments will accelerate most quickly, especially in emerging markets.