<p>Eicher Motors Ltd will buy a nearly 10.35 per cent stake in Spanish electric motorcycle maker Stark Future SL for Rs 440 crore ($53.22 million), it said on Thursday, the latest such investment by an Indian company amid rising demand for EVs.</p>.<p>The parent of Royal Enfield will nominate a director to the board of Stark, which currently does not have a facility in India.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/indian-shares-rebound-on-slide-in-oil-prices-dec-fo-series-expiry-1176225.html" target="_blank">Indian shares rebound on slide in oil prices, Dec F&O series expiry</a></strong></p>.<p>"This investment will pave the way for a long term partnership in collaborative research and development in electric motorcycles, technology sharing, technical licensing, and manufacturing," Eicher said in a stock exchange filing.</p>.<p>Rival bikemaker Hero MotoCorp said in September it would invest in California-based Zero Motorcycles to jointly develop electric motorcycles.</p>.<p>EVs are expected to account for 33 per cent of global sales by 2028, according to consultant AlixPartners, from less than 8 per cent last year.</p>
<p>Eicher Motors Ltd will buy a nearly 10.35 per cent stake in Spanish electric motorcycle maker Stark Future SL for Rs 440 crore ($53.22 million), it said on Thursday, the latest such investment by an Indian company amid rising demand for EVs.</p>.<p>The parent of Royal Enfield will nominate a director to the board of Stark, which currently does not have a facility in India.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/indian-shares-rebound-on-slide-in-oil-prices-dec-fo-series-expiry-1176225.html" target="_blank">Indian shares rebound on slide in oil prices, Dec F&O series expiry</a></strong></p>.<p>"This investment will pave the way for a long term partnership in collaborative research and development in electric motorcycles, technology sharing, technical licensing, and manufacturing," Eicher said in a stock exchange filing.</p>.<p>Rival bikemaker Hero MotoCorp said in September it would invest in California-based Zero Motorcycles to jointly develop electric motorcycles.</p>.<p>EVs are expected to account for 33 per cent of global sales by 2028, according to consultant AlixPartners, from less than 8 per cent last year.</p>