SINGAPORE-based electric motorcycle maker EuroSports Technologies could be on for a five million dollar boost after its parent company’s recent cash dump.
Chiefs at EuroSports Global, the father firm, have revealed their commitment of S$2m in seed capital, with contingency for another S$3m dependent on certain milestones for a total of $3.6m USD (~£2.9m GBP).
EST plans to accelerate development of its flagship EST-X model bike, with an initial launch slated for Southeast Asia followed by international distribution.
And it’s not just a matter of business for the company. COO Joel Chang says the firm has a further commitment to alleviate the global air quality issue.
A study by the World Health Organization revealed air pollution as the number one cause of premature deaths in
low-and middle-income Asian countries, accounting for nearly 90 per cent of the fatalities, with the problem killing an estimated seven million people a year globally.
“By launching this new electric motorcycle, EST aims not only to deliver a dramatically better mobility
experience for end users but also help alleviate the world’s air pollution problem,” Chang said.
“Air pollution is clearly a health crisis globally. By encouraging societies to switch to electric motorcycles,
we can help alleviate the problem.
“Electric motorcycles are cleaner, easier to maintain given fewer moving components, and cheaper to use over their lifetime compared to gasoline motorcycles.”