SRIVARU (SVMH) Expands to Kerala, a Leading State in EV Adoption in India, with Innovative Joint Dealership for PRANA 2.0 Electric Motorcycles in Thiruvananthapuram
SRIVARU (Nasdaq: SVMH) announced its expansion into Kerala, India, through a new joint dealership with Electrogreen Motors in Thiruvananthapuram. The partnership will offer PRANA 2.0 electric motorcycles, featuring models with 250km range per charge and 0-60 km/h acceleration under 4 seconds. The joint dealership model allows SRIVARU to partner with established local dealers while minimizing costs. Kerala's supportive EV policies, including free registration, road tax exemptions, and free parking, make it an ideal market for expansion. The state's major cities are already significant contributors to India's luxury automobile segment.
SRIVARU (Nasdaq: SVMH) ha annunciato la sua espansione in Kerala, India, attraverso una nuova concessionaria congiunta con Electrogreen Motors a Thiruvananthapuram. La partnership offrirà motociclette elettriche PRANA 2.0, con modelli che presentano un'autonomia di 250 km per carica e un'accelerazione da 0 a 60 km/h in meno di 4 secondi. Il modello di concessionaria congiunta consente a SRIVARU di collaborare con concessionari locali consolidati, riducendo al contempo i costi. Le politiche favorevoli agli EV del Kerala, tra cui la registrazione gratuita, l'esenzione dalla tassa di circolazione e il parcheggio gratuito, lo rendono un mercato ideale per l'espansione. Le principali città dello stato sono già importanti contributori al segmento delle automobili di lusso in India.
SRIVARU (Nasdaq: SVMH) anunció su expansión en Kerala, India, a través de una nueva concesionaria conjunta con Electrogreen Motors en Thiruvananthapuram. La asociación ofrecerá motocicletas eléctricas PRANA 2.0, con modelos que tienen un alcance de 250 km por carga y aceleración de 0 a 60 km/h en menos de 4 segundos. El modelo de concesionaria conjunta permite a SRIVARU asociarse con concesionarios locales establecidos mientras minimiza costos. Las políticas favorables a los vehículos eléctricos de Kerala, que incluyen registro gratuito, exenciones de impuestos de carretera y estacionamiento gratuito, lo convierten en un mercado ideal para la expansión. Las principales ciudades del estado ya son importantes contribuyentes al segmento de automóviles de lujo de India.
SRIVARU (나스닥: SVMH)는 티루바난타푸람에 있는 Electrogreen Motors와의 새로운 합작 대리점을 통해 인도 케랄라에서의 확장을 발표했습니다. 이 파트너십은 한 번의 충전으로 250km의 주행 거리를 자랑하는 PRANA 2.0 전기 오토바이를 제공하며, 0-60 km/h 가속이 4초 이내에 가능합니다. 합작 대리점 모델은 SRIVARU가 비용을 최소화하면서도 기존의 지역 대리점과 협력할 수 있게 해줍니다. 케랄라의 전기차 지원 정책에는 무료 등록, 도로세 면제 및 무료 주차가 포함되어 있어 확장에 이상적인 시장이 됩니다. 주의 주요 도시들은 이미 인도의 고급 자동차 세그먼트에 중요한 기여를 하고 있습니다.
SRIVARU (Nasdaq: SVMH) a annoncé son expansion en Kerala, en Inde, grâce à un nouveau partenariat concessionnaire conjoint avec Electrogreen Motors à Thiruvananthapuram. Ce partenariat proposera des motos électriques PRANA 2.0, avec des modèles ayant une autonomie de 250 km par charge et une accélération de 0 à 60 km/h en moins de 4 secondes. Le modèle de concessionnaire commun permet à SRIVARU de s'associer à des concessionnaires locaux établis tout en minimisant les coûts. Les politiques favorables aux véhicules électriques du Kerala, y compris l'enregistrement gratuit, les exonérations de taxes routières et le stationnement gratuit, en font un marché idéal pour l'expansion. Les grandes villes de l'État sont déjà des contributeurs majeurs au segment des automobiles de luxe en Inde.
SRIVARU (Nasdaq: SVMH) hat seine Expansion nach Kerala, Indien, durch ein neues joint dealership mit Electrogreen Motors in Thiruvananthapuram angekündigt. Die Partnerschaft wird PRANA 2.0 Elektromotorräder anbieten, die Modelle mit einer Reichweite von 250 km pro Ladung und einer Beschleunigung von 0-60 km/h in unter 4 Sekunden umfassen. Das Modell des gemeinsamen Händlers ermöglicht es SRIVARU, mit etablierten lokalen Händlern zu kooperieren und gleichzeitig die Kosten zu minimieren. Die unterstützenden EV-Richtlinien von Kerala, einschließlich kostenloser Registrierung, Befreiung von der Straßensteuer und kostenlosem Parken, machen es zu einem idealen Markt für die Expansion. Die großen Städte des Bundesstaates sind bereits bedeutende Beitragszahler im Luxusautomobilsegment Indiens.
- Strategic expansion into Kerala, a leading state for EV adoption in India
- Cost-efficient joint dealership model enabling rapid market expansion
- Premium product specifications with 250km range and competitive acceleration
- Favorable local EV policies including tax exemptions and incentives
- None.
Insights
This expansion into Kerala represents a strategic move into one of India's most EV-friendly markets. The joint dealership model is particularly noteworthy for its capital-efficient approach to market expansion. Kerala's comprehensive EV incentives, including free vehicle registration, road tax exemptions and free parking, create a favorable environment for EV adoption.
The state's luxury vehicle market presence in cities like Kochi and Thiruvananthapuram aligns well with SRIVARU's premium positioning. The PRANA 2.0's technical specifications, including 250km range and sub-4 second acceleration to 60 km/h, position it competitively in the premium segment. However, the impact on immediate revenue growth may be as the dealership network is still in early stages of development.
GRAND CAYMAN, Cayman Islands, Oct. 23, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced its expansion into the Indian State of Kerala with the launch of its PRANA 2.0 electric motorcycle through a new joint dealership with Electrogreen Motors in Thiruvananthapuram, Kerala’s capital.
The joint dealership model, developed by SRIVARU, allows the Company to partner with established local dealers, leveraging their resources and market reach. This approach enables SRIVARU to expand rapidly while minimizing upfront costs and ensuring capital efficiency. The new dealership in Kerala will offer SRIVARU’s flagship electric motorcycles, the PRANA 2.0 Grand and PRANA 2.0 Elite. Both models are renowned for their performance and eco-friendly features, with an industry-leading range of 250 kilometers per charge and acceleration from 0 to 60 km/h in under 4 seconds, making them the fastest and most efficient electric motorcycles in their class.
Adron Leow, CFO of SRIVARU, stated, “Our joint dealership approach is an innovative way for us to scale quickly while delivering a consistent and premium experience to our customers. We expect this partnership to allow us to reach more consumers across Kerala, offering them our cutting-edge electric motorcycles while maintaining top-tier service quality. Kerala has been a leader in supporting electric vehicle (EV) adoption. In 2019, the state introduced one of the country’s earliest EV policies, offering incentives such as free vehicle registration, road tax exemptions, toll exemptions, and free parking for EVs. These policies have made Kerala one of India’s most successful states for the early EV adoption, providing an ideal environment for SRIVARU to expand its operations and cater to the increasing consumer demand for cleaner transportation solutions. Major Keralan cities such as Kochi, Thiruvananthapuram, Kozhikode, and Thrissur are already key markets for other premium vehicles, significantly contributing to India's luxury automobile segment. As the demand for EVs rises, we believe SRIVARU’s expansion into Kerala positions the company to capitalize on this lucrative market with its premium electric motorcycles.”
Mr. Anwar, CEO of Electrogreen Motors, commented, “We are excited to partner with SRIVARU, as their electric motorcycles are setting new standards for performance and sustainability in India. The PRANA 2.0 series, with its combination of advanced technology and environmental benefits, is perfectly suited to the growing market demand here in Kerala. This partnership not only strengthens our current business, but we anticipate that it will also position us for future expansion in the rapidly growing EV sector.”
For more information about the PRANA 2.0 and SRIVARU, please visit https://www.srivarumotors.com/prana-electric-bike or www.svmh.ai.
About SRIVARU
SRIVARU Holding Limited, a Cayman Islands exempted company, is the parent company of SRIVARU Motor Private Ltd., a commercial-stage provider dedicated to designing and manufacturing premium electric motorcycles 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 E2W vehicles 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. SRIVARU additionally oversees a manufacturing subsidiary set to play a crucial role in achieving the company’s vision for sustainable and innovative mobility. Additional information about the company is available at: http://www.srivarumotors.com/. With a focus on innovation, sustainability, and performance, SRIVARU aims to redefine the future of mobility.
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, 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; (b) the inability to obtain financing to complete the Company’s planned expansion; (c) the inability to successfully appeal the Nasdaq’s delisting determinations; (d) the risk that current plans and operations of SRIVARU or its subsidiaries are disrupted as a result of the announcement and consummation of the Business Combination; (e) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of SRIVARU to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (f) costs related to ongoing operations; (g) the possibility that SRIVARU may be adversely affected by other economic, business, and/or competitive factors; (h) SRIVARU’s ability to execute its business plans and strategies, (i) SRIVARU’s estimates of expenses and profitability and (j) other risks and uncertainties indicated from time to time in SRIVARU’s public filings with the SEC, including those under “Risk Factors” therein.
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, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. SRIVARU gives no assurance that it will achieve its expectations.
Company Details:
SRIVARU Holding Limited
2nd Floor, Regatta Office Park, West Bay Road
P.O. Box 10655
Grand Cayman, KY1-1006
Cayman Islands
Investor & Media Contact:
Investor Relations
SRIVARU Holding Limited
Email: ir@srivarumotors.com
Phone: +1 (888) 227-8066
FAQ
What are the key features of SRIVARU's (SVMH) PRANA 2.0 electric motorcycles?
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Which PRANA 2.0 models will be available at SRIVARU's (SVMH) Kerala dealership?
