Scorpio Electric Singapore completes a $6.3m fundraising to develop an electric motorcycle

Scorpio Electric plans to take orders by mid 2021 and start production of the E2 prototype by Q3 of 2022.

The EV brand of EuroSport Technologies, Scorpio Electric, has completed a fundraising of $6.3 million for developing an electric motorcycle. While EuroSport, owned by Melvin Goh, is a luxury car distributor (Lamborghini, Alfa Romeo), their investment into the 2 wheel space comes with the decision of Melvin to create his own brand for an electric motorcycle. As the prototype shows, the model is a maxi scooter with cool looks, but not much more has been revealed.

The investment will push Scorpio Electric into software and hardware development for their electric motorcycle, due to be launched next year, and fully delivered by 2022. The production plans show a capacity of 8,000 electric motorcycles yearly. After already unveiling their design model in Singapore Fintech Festival (SFF) 2019, the company will be accessing Southeast Asian markets, annually selling 15 million motorcycles.

“The future is electric! We at Scorpio Electric are all very excited for this US $6.3M fund raise, and are happy to know that our investors share the same vision as we have. There is so much untapped potential globally, but none more important than right here in our backyard of Southeast Asia. More than 15 Million bikes are sold a year in this region, along with an extremely young demographic looking for new products – the future is full of opportunity. We want to thank our investors and all our partners for joining us along this journey. A lot more to come!”

Melvin Goh, Chief Executive Officer –Scorpio

Although the details for this maxi scooter have not been revealed yet, so we really have no motor, battery or other specs to interest you with, we will keep track and update on news from Scorpio Electric as we enter 2021.

Video By The Straits Times.

Sources: Scorpio Electric, EuroSportGlobal, The Straits Times.

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