SRIVARU’s (SVMH) Prana 2.0 Intelligent Battery System Goes Longer and Further: SRIVARU Successfully Completes Road/Performance Testing
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The announcement from SRIVARU about their Prana 2.0 intelligent battery system represents a significant milestone in the electric motorcycle market. The extended range of up to 250 kilometers on a single charge for the Prana Elite model is a substantial improvement over the industry average, which typically hovers around 100 to 120 kilometers. This leap in battery performance could potentially disrupt the market by setting a new standard for electric two-wheelers.
From a business perspective, SRIVARU's technological advancement may lead to an increased market share, especially in regions with a high density of commuters and a growing environmental consciousness. Moreover, the mention of the AIS-156 Phase 3 certification indicates that the product meets high safety standards, which could enhance consumer trust and lead to higher sales volumes. This development could attract investor interest as it demonstrates SRIVARU's commitment to innovation and safety, which are critical factors for long-term success in the automotive sector.
The integration of temperature sensors within the battery pack is a noteworthy enhancement that addresses one of the primary concerns in battery technology: thermal management. Effective thermal management is essential for maintaining battery life and safety, especially in countries with extreme weather conditions. The ability to provide audio and visual warnings for battery temperature can prevent degradation and potential fires, which has been a challenge for the industry in the past.
The transition to the Prana 2.0 intelligent battery system with a 20% increase in range also suggests improvements in energy density or efficiency of the battery cells. This could indicate that SRIVARU is leveraging cutting-edge materials or novel battery chemistries to achieve these results. For stakeholders, the advancements in battery technology could mean lower maintenance costs and longer lifespans for the motorcycles, translating into better total cost of ownership figures.
SRIVARU's progress in electric motorcycle range could serve as a catalyst for broader adoption of electric two-wheelers, particularly in markets like India where two-wheelers are a popular mode of transportation. The extended range meets and exceeds the average daily commute distance, which can alleviate range anxiety—a significant barrier to electric vehicle adoption. Additionally, positioning the product at an attractive price point could make it a compelling choice for consumers who are cost-conscious yet seeking sustainable transportation options.
Long-term implications for the stock market could include a positive outlook for SRIVARU's shares if the company can capitalize on this technological edge and scale production to meet potential demand surges. However, the impact on the stock will also depend on the company's ability to manage supply chain challenges, production costs and competition from other players in the electric motorcycle space.
Prana 2.0 Grand and Elite featuring the Company’s version 2.0 intelligent battery system extends on-road driving* range to 150km and 250km/charge; 2-4 times longer range than the average daily commute distance
GRAND CAYMAN, Cayman Islands and COIMBATORE, India, March 27, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a prominent provider of premium electric motorcycles, today announced it has successfully completed on-road driving range tests of the Company’s new Prana 2.0 intelligent battery system. The Prana 2.0 intelligent battery system exceeded initial performance expectations when installed in the Prana Grand and Prana Elite models, achieving an extended vehicle range in excess of 150 kilometers for the Prana Grand and 250 kilometers for the Prana Elite, both on a single charge.
Mohanraj Ramasamy, CEO of SRIVARU, stated, “We continue to be a leader in the market in terms of quality and innovation, bringing high-performance and sustainable alternatives to meet the growing demand for premium two-wheel electric motorcycles. Having just completed our on-road driving* range tests, we are extremely pleased with the impressive driving range of the Prana 2.0. Prana 2.0 achieved a range well in excess of typical electric motorcycles and surpassed our own internal targets. Previously, the Prana Grand had an expected range of 126 km for standard road driving. With the Prana 2.0 intelligent battery system, we have increased the expected range for standard road driving by over
About SRIVARU Holding Ltd.
SRIVARU is the parent company of SRIVARU Motor Private Ltd., a prominent provider of premium e-motorbikes in India. SRIVARU was founded on the realization that while the rider-motorcycle relationship is deep and complex, it is in desperate need of innovation for the next generation of riders. SRIVARU provides affordable premium electric two-wheeled vehicles (“E2W”) that provide an exceptional riding experience with redundant 3-channel automated braking, a low center of gravity to improve stability, enhanced safety features, and easy charging compatible with home charging outlets. The company has a broad array of intellectual property, including a patent-pending chassis and drive acceleration system. In addition, SRIVARU offers customers a superior total cost of ownership, compared to traditional internal combustion engine motorcycles and E2W vehicle competitors. Additional information about the company is available at: http://www.srivarumotors.com/.
*On-road driving condition is defined as standard driving conditions with driving speeds of 50-60km/hour with a single rider.
Forward Looking Statements
This communication may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning SRIVARU’s possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and the effects of regulation, including whether the business combination will generate returns for stockholders or shareholders, respectively. These forward-looking statements are based on SRIVARU’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this communication, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside SRIVARU’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the outcome of any legal proceedings that may be instituted against SRIVARU or others following the closing of the business combination; (b) SRIVARU’s ability to continue to meet the Nasdaq’s listing standards following the consummation of the business combination; (c) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (d) changes in applicable laws or regulations; (e) consumers’ willingness to adopt electric vehicles and electric motorcycles in particular; (f) the possibility that SRIVARU may be adversely affected by other economic, business and/or competitive factors, geopolitical conflicts, the effects of inflation and potential recessionary conditions; (g) SRIVARU’s execution of anticipated operational efficiency initiatives, including low-cost manufacturing and distribution, and financing arrangements; and (h) other risks and uncertainties indicated from time to time in the final prospectus of Mobiv, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by SRIVARU. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SRIVARU assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. SRIVARU does not give any assurance that it will achieve its expectations.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7561983-0e82-4f12-8fc7-d4c3e890161c
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