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SRIVARU Holding Limited, symbol: SVMH, is a pioneering company in the two-wheeled vehicle (TWV) industry, focusing on developing vehicles powered by renewable energy. With a commitment to safety, performance, and comfort, SRIVARU aims to provide a secure and enjoyable riding experience to its customers.
Operating in the vehicle manufacturing segment, SRIVARU's flagship product line, the Prana, is an E2W (Electric Two-Wheeler) vehicle that is setting new standards in the category. The Prana line includes the Prana-Grand and the upcoming Prana-Elite, which will utilize the same platform but offer enhanced features and range.
SRIVARU has recently made significant strides in innovation with the introduction of the Prana 2.0 Grand and Elite models. These models feature the company's version 2.0 intelligent battery system, which extends the on-road driving range to 150km and 250km per charge, significantly surpassing the average daily commute distance by 2-4 times.
The company is actively engaged in engineering and design work, aiming to continually upgrade and enhance its product offerings. Recent developments include the establishment of a robust supply chain and the submission of vehicles for road and safety certification.
For the latest updates and more information, SRIVARU Holding Limited encourages investors and media to contact Crescendo Communications, LLC at +1-212-671-1020 or via email at ir@svmh.ai. Images and further announcements can be found at their official news sections on platforms such as GlobeNewswire.
SRIVARU Holding (Nasdaq: SVMH, SVMHW), a premium electric motorcycle manufacturer, has received an additional delisting notification from Nasdaq on July 30, 2024. The company failed to maintain the required minimum Market Value of Publicly Held Shares of $15,000,000 and minimum Market Value of Listed Securities of $50,000,000. This comes on top of a previous notification regarding the inability to maintain a minimum Bid Price of $1.00.
On July 31, 2024, SRIVARU submitted a request for a hearing with a Nasdaq Hearing Panel to appeal these determinations. The delisting process is now on hold, and the company's securities will continue trading on Nasdaq pending the Panel's decision. SRIVARU plans to present a comprehensive compliance plan at the hearing but acknowledges there's no guarantee of an extension or successful compliance within any granted period.
SRIVARU Holding (Nasdaq: SVMH) has announced the successful completion of commercial manufacturing and testing for its premium electric motorcycle, PRANA 2.0, now available in the Indian market. The company's first production line can produce over 2,000 units per month on a single shift, demonstrating SRIVARU's readiness to meet growing demand.
The PRANA 2.0 features state-of-the-art battery technology unparalleled in India, offering exceptional performance and sustainability. CEO Mohanraj Ramasamy expressed confidence that PRANA 2.0 will become the market leader in the two-wheeler EV segment within one to two years, highlighting SRIVARU's commitment to revolutionizing the electric vehicle industry in India.
SRIVARU Holding (Nasdaq: SVMH, SVMHW), a premium electric motorcycle manufacturer, has received a delisting notification from Nasdaq due to non-compliance with the minimum bid price requirement. The company's ordinary shares and warrants are subject to delisting from the Nasdaq Global Market, scheduled for August 2, 2024. However, SRIVARU intends to appeal this decision before a Hearings Panel, which will stay the suspension and allow continued trading pending the Panel's decision.
The company plans to present its compliance strategy to the Panel but acknowledges there's no guarantee of an extension or successful compliance. SRIVARU also anticipates receiving additional notifications regarding non-compliance with minimum Market Value of Publicly Held Shares and minimum Market Value of Listed Securities requirements.
SRIVARU (Nasdaq: SVMH) has successfully deployed advanced AI tools to manage lead generation for its PRANA 2.0 electric motorcycle. Launched on June 16, 2024, the booking platform for PRANA 2.0 has received over 2,000 daily inquiries. The AI tools streamline the lead generation process by efficiently analyzing and responding to customer inquiries, thus reducing customer acquisition costs and enhancing resource use. CEO Mohanraj Ramasamy believes this AI integration is pivotal for growth and innovation in the premium electric motorcycle sector.
SRIVARU (SVMH) announced that beginning June 16th, it will accept reservations for its PRANA 2.0 electric motorbike. The first shipments are expected in early Q3 2024. This marks a significant step towards revenue generation and market adoption. The company is progressing in road testing and safety certification, expected to complete by June end. The new manufacturing facility can produce over 2,000 bikes per month and is designed for scalable expansion. SRIVARU aims to capture the growing electric vehicle market in India, projected to reach $36 billion by 2027, with a 45-50% EV segment by 2030.
SRIVARU Holding (Nasdaq: SVMH; SVMHW), a provider of premium electric motorcycles, announced it will hold an Extraordinary General Meeting of Shareholders on June 27, 2024. The board set the record date for eligibility to vote at the meeting as June 3, 2024. Relevant materials, including a notice, proxy statement, and proxy card, are available on the company’s website.
SRIVARU Holding (Nasdaq: SVMH; SVMHW), a provider of premium electric motorcycles, is set to present at the Spring MicroCap Rodeo Conference on June 6, 2024, in New York City.
The presentation will be led by CEO Mohanraj Ramasamy and CFO Adron Leow at 11:30 a.m. Eastern Time. It will be webcast live and accessible on SRIVARU’s investor relations website.
Management will also hold 1-on-1 meetings with approved investors during the conference. For more information and registration, visit the MicroCap Rodeo website.
SRIVARU Holding announced the completion of a new manufacturing facility in Coimbatore, India, geared towards electric motorcycles. The state-of-the-art facility can initially produce 2,000 units of the PRANA 2.0 model monthly, with a potential to upscale to over 4,000 units. Featuring an automated testing line, the production cycle—from start to final testing—takes just 12 minutes. The facility is equipped for efficiency and potential expansion to support up to 50,000 units annually. SRIVARU aims to capitalize on India's burgeoning EV market, projected to hit $36 billion by 2027, with the EV segment expected to represent up to 50% by 2030.
SRIVARU (SVMH), a premium electric motorcycle provider, announced that CEO Mohan Ramasamy discussed the company's latest developments in an interview with Proactiveinvestors.com. The focus was on the successful internal testing of the PRANA 2.0 electric motorcycle, which has now been submitted for final certification by road and safety authorities. Additionally, the company's supply network is fully prepared to commence production upon certification. The interview is available on ProactiveInvestors.com and their YouTube channel.
SRIVARU Holding (Nasdaq: SVMH; SVMHW) announced the successful completion of EMC/EMI testing for its flagship electric motorcycle, PRANA 2.0.
This milestone is critical in meeting the Central Motor Vehicles Rules (CMVR) regulatory requirements, ensuring the vehicle's electromagnetic emissions and susceptibility comply with standards. CEO Mohanraj Ramasamy emphasized the company's dedication to high-quality, compliant electric vehicles.
PRANA 2.0 features smart riding capabilities, unlimited GPS connectivity, a proprietary braking system, and a 4-mode driving option. This step brings SRIVARU closer to launching the PRANA 2.0, strengthening its market position in the evolving EV sector.
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