Shocker: Electric Motorcycle Maker Stark Future Is In The Black

Forbes

15-05-2025

While based on its dirt bike sibling, the Stark Future Varg EX has the required lights and other ... More details for street-legal operation.
From the beginning, the electric motorcycle market has been brutal. While most models that I've sampled have been fast, technologically advanced, and incredibly fun to ride (trust me on that one), nearly all of the companies that make them have found it almost impossible to turn a profit. Many have sadly closed up shop: Energica, Sonders, Brammo, Fuell, Cake, Alta, Arc, and others are now historical footnotes in motorcycle history.
Others continue burning cash in the pursuit of profitability but are finding the market unreceptive. Harley-Davidson's electric motorcycle spin-off, LiveWire, sold just 33 (yes, thirty-three) electric motorcycles last quarter— more than a 70% drop from Q1 2024, which was also not a good quarter for the brand. Harley-Davidson says LiveWire lost $20 million in the first quarter of 2025. The red ink also persists at Zero Motors, perhaps the most recognizable electric motorcycle maker. Zero is still running on investor dollars despite being in business for well over a decade, although it does sell a fair number of machines each year. Zero is privately held and typically does not disclose exact sales or financial figures.
A small number of electric motorcycle makers have achieved success and profitability, including BYD and NIU, both from China. Both companies also manufacture electric scooters, which are gaining popularity in Asia, particularly when combined with battery swapping technology.
Stark Future, based in Barcelona, which makes only electric motorcycles, has just reported its first profitable quarter. Stark Future's co-founder and CEO, Anton Wass, confirmed to me via video call that the company recently achieved its first profitable quarter, reporting €2.8 million ($2.98 million) in profit on €18.3 million ($20 million) in sales.
Dirt motorcycle riders will recognize the form factor instantly, but the riding experience is quite ... More a bit different - and much more quiet.
'We have been steadily approaching this profitability event, driven by the popularity of the off-road Varg MX, but the phenomenal reception of the newly available Stark Varg EX, the company's groundbreaking street-legal Enduro model, has brought this landmark occasion,' Wass said in a press release. 'This achievement comes barely two years after Stark Future's first commercial sales, remarkably faster than incumbent EV leaders, and more resembling the growth rates of some of the world's most successful technology firms in history.'
Wass did not specify how many units the company sold of its Varg EX and MX machines, which retail for between $9,999 and $12,990 depending on options and configurations, but sales are clearly robust. Both models share a common platform and architecture, with the EX model serving as the street-legal and dual-sport option and the MX as the dedicated off-road-only machine.
Along with the bottom line now ringing in as cash positive, Wass said that more models are forthcoming from the five-year-old company that now employs 350 people, including 100 in R&D alone at a modern, stylish headquarters (below) in the Spanish capital city. Also, the company's positive numbers do not include any carbon credits or other shadowy financial shenanigans.
How did Wass and company turn the corner with Stark Future? "Through deep technical vertical integration and focus on sourcing, we managed to develop game-changing technology at competitive costs, all while still manufacturing in Europe. This result validates our disciplined approach and marks an important step toward consistent profitability,' the founder said in a press release.
Stark's large headquarters in Barcelona is home to hundreds of workers and the company's research ... More and development team.
Wass told me that Stark's choice to produce what are essentially 450cc-class electric dirt-bike style motorcycles instead of machines rivaling full-size motorcycles seems to have hit a sweet spot with customers looking for both effective urban transportation on the Varg EX, and robust dirt performance with the MX. Wass also told me a third model based on the current architecture is set to debut relatively soon, but details are under wraps at this time.
Vass said the lighter weight Varg machines have resonated with riders since they provide much greater acceleration than traditional motorcycles due to the instantly available 764 pound-feet of torque and 80 horsepower from the electric motor. Combined with a comparatively light weight of 264 pounds (which doesn't change since it uses no gas), the Varg EX, which is essentially a Varg MX with street-legal bits, is a quick and agile machine on the road - or trail.
'We will continue to innovate at the component level and in the greater model range so electric motorcycles in all categories can outperform traditional machines in every way,' Paul Soucy, Stark Future CTO, said in the press release.
Most riders likely won't push the Varg MX to this extreme, but Stark Future says the bikes are ... More torture tested by test riders.
Despite their success, the way forward for Stark Future isn't exactly clear. There is growing competition in the middleweight or 'city plus' electric motorcycle space, which is becoming more popular with riders and bike makers as larger, heavier, more expensive electric models continue to struggle. Startups like Land and its District models, established brands including Zero and its new lightweight X-series bikes, and upcoming models from new electric moto players, including Royal Enfield with their stylish Flying Flea machine and Can-Am with their new electrics will make for a crowded dance floor.
Wass also said they believe other legacy motorcycle makers, especially in Japan, are also working on electric dirt-focused motorcycles at this time due to Stark's success. Because adding street-legal equipment to an electric motorcycle is fairly simple, 'dirt-bike' models can also be easily converted to street-legal models.
Another wild card is tariffs, which currently stand at a manageable 10% in Europe, according to Wass. Higher tariffs could complicate efforts to break into the U.S. market if the situation changes, Wass said. However, he also believes that the company can manage increased tariffs since Stark's sales volume in the U.S. is very small at this time, with EU-based sales (and low tariffs) constituting the majority of Stark's revenue.
Wass mentioned that while the European market continues to see strong sales, he would like Stark Future to better penetrate the North American market in the future, but Wass said the larger goal is to 'change the perception of what an electric street motorcycle is.'
So far, it sounds like Stark Future is making headway on that goal. Look for my full ride review of the Stark Future Varg EX in the coming months.
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