SRIVARU (SVMH) Secures Approval from India's Road Transport Authority for PRANA 2.0, Achieving Final Federal Technical Compliance: Paving the Way for Customer Deliveries
SRIVARU Holding (Nasdaq: SVMH, SVMHW) has secured certification from India's Central Motor Vehicles Rules (CMVR) agency for its PRANA 2.0 models, including the PRANA Grand and PRANA Elite. This certification marks the final federal technical compliance needed for customer deliveries in India. The PRANA 2.0 series, designed for urban commuters and eco-conscious riders, offers a range of 250 kilometers per charge and can accelerate from 0 to 60 km/h in under 4 seconds.
The CMVR certification process involved extensive testing of battery safety, environmental impact, and vehicle performance. This achievement positions SRIVARU to capitalize on India's rapidly growing electric two-wheel vehicle market, which has seen over 23% year-over-year growth in the premium yet affordable segment. With this milestone, the company is now moving forward with full commercial operations and delivery planning.
SRIVARU Holding (Nasdaq: SVMH, SVMHW) ha ottenuto la certificazione dall'agenzia indiana delle Regole Centrali dei Veicoli a Motore (CMVR) per i suoi modelli PRANA 2.0, inclusi il PRANA Grand e il PRANA Elite. Questa certificazione segna il necessario rispetto finale delle normative tecniche federali per le consegne ai clienti in India. La serie PRANA 2.0, progettata per i pendolari urbani e i motociclisti attenti all'ambiente, offre un raggio di 250 chilometri per carica e può accelerare da 0 a 60 km/h in meno di 4 secondi.
Il processo di certificazione CMVR ha comportato test approfonditi sulla sicurezza della batteria, sull'impatto ambientale e sulle prestazioni del veicolo. Questo traguardo posiziona SRIVARU per capitalizzare sul rapidamente crescente mercato indiano dei veicoli elettrici a due ruote, che ha registrato oltre un 23% di crescita anno su anno nel segmento premium ma accessibile. Con questo risultato, l'azienda sta ora procedendo con operazioni commerciali complete e pianificazione delle consegne.
SRIVARU Holding (Nasdaq: SVMH, SVMHW) ha obtenido la certificación de la agencia indiana de Reglas Centrales de Vehículos de Motor (CMVR) para sus modelos PRANA 2.0, incluidos el PRANA Grand y el PRANA Elite. Esta certificación marca el cumplimiento técnico federal final necesario para las entregas a los clientes en India. La serie PRANA 2.0, diseñada para los viajeros urbanos y los motociclistas conscientes del medio ambiente, ofrece un rango de 250 kilómetros por carga y puede acelerar de 0 a 60 km/h en menos de 4 segundos.
El proceso de certificación de CMVR involucró pruebas exhaustivas de seguridad de la batería, impacto ambiental y rendimiento del vehículo. Este logro posiciona a SRIVARU para capitalizar el rápidamente creciente mercado indio de vehículos eléctricos de dos ruedas, que ha visto un crecimiento del 23% año tras año en el segmento premium pero accesible. Con este hito, la empresa ahora avanza con operaciones comerciales completas y planificación de entregas.
SRIVARU 홀딩스(Nasdaq: SVMH, SVMHW)는 인도의 중앙 자동차 규정(CMVR) 기관으로부터 PRANA 2.0 모델에 대한 인증을 받았습니다. 여기에는 PRANA Grand와 PRANA Elite가 포함됩니다. 이 인증은 인도 내 고객 배송을 위한 최종 연방 기술 준수를 의미합니다. PRANA 2.0 시리즈는 도시 통근자와 환경을 생각하는 라이더를 위해 설계되었으며, 한 번의 충전으로 250킬로미터의 주행 거리를 제공하며, 0에서 60km/h로 4초 이내에 가속할 수 있습니다.
CMVR 인증 프로세스는 배터리 안전, 환경 영향, 차량 성능에 대한 광범위한 테스트를 포함했습니다. 이 성과는 SRIVARU가 급속히 성장하는 인도의 전기 이륜차 시장을 활용할 수 있는 위치에 놓이게 하며, 이 시장은 프리미엄이면서도 저렴한 세그먼트에서 연평균 23%의 성장을 기록했습니다. 이 이정표를 통해 회사는 이제 완전 상업 운영 및 배송 계획에 나서고 있습니다.
SRIVARU Holding (Nasdaq: SVMH, SVMHW) a obtenu la certification de l'agence indienne des Règles Centrales des Véhicules à Moteur (CMVR) pour ses modèles PRANA 2.0, y compris le PRANA Grand et le PRANA Elite. Cette certification marque la conformité technique fédérale finale requise pour les livraisons aux clients en Inde. La série PRANA 2.0, conçue pour les navetteurs urbains et les conducteurs soucieux de l'environnement, offre une autonomie de 250 kilomètres par charge et peut accélérer de 0 à 60 km/h en moins de 4 secondes.
Le processus de certification CMVR a impliqué des tests approfondis sur la sécurité des batteries, l'impact environnemental et les performances du véhicule. Cette réalisation positionne SRIVARU pour tirer parti du marché indien des véhicules électriques à deux roues, qui connaît une croissance de plus de 23% d'une année sur l'autre dans le segment premium mais abordable. Avec cette étape, l'entreprise avance maintenant dans ses opérations commerciales complètes et la planification des livraisons.
SRIVARU Holding (Nasdaq: SVMH, SVMHW) hat von der indischen Behörde für zentrale Kraftfahrzeugvorschriften (CMVR) die Zertifizierung für ihre PRANA 2.0 Modelle, einschließlich PRANA Grand und PRANA Elite, erhalten. Diese Zertifizierung stellt die endgültige bundesstaatliche technische Konformität dar, die für die Kundenlieferungen in Indien erforderlich ist. Die PRANA 2.0 Serie, die für städtische Pendler und umweltbewusste Fahrer entwickelt wurde, bietet eine Reichweite von 250 Kilometern pro Ladung und kann in weniger als 4 Sekunden von 0 auf 60 km/h beschleunigen.
Der Zertifizierungsprozess der CMVR umfasste umfassende Tests zur Batteriesicherheit, Umweltauswirkungen und Fahrzeugleistung. Dieser Erfolg positioniert SRIVARU, um vom schnell wachsenden indischen Markt für elektrische Zweiräder zu profitieren, der im Premium- aber erschwinglichen Segment über ein 23% jährliches Wachstum berichtet. Mit diesem Meilenstein setzt das Unternehmen nun seine vollständigen kommerziellen Operationen und die Planung der Lieferungen fort.
- Obtained CMVR certification for PRANA 2.0 models, enabling customer deliveries in India
- PRANA 2.0 offers 250 km range per charge and 0-60 km/h acceleration in under 4 seconds
- Positioned to tap into India's electric two-wheel vehicle market with 23% YoY growth
- Moving forward with full commercial operations and delivery planning
- None.
Insights
The CMVR certification for SRIVARU's PRANA 2.0 electric motorcycles is a significant milestone for the company. This approval demonstrates SRIVARU's technical prowess and compliance with India's stringent safety and performance standards. The certification paves the way for SRIVARU to begin commercial operations and revenue generation in one of the world's largest two-wheeler markets.
Key highlights of the PRANA 2.0 series include:
- Range of 250 kilometers per charge
- Acceleration from 0 to 60 km/h in under 4 seconds
- Positioned in the premium yet affordable segment
With the Indian EV market experiencing
SRIVARU's CMVR certification for PRANA 2.0 models is a crucial development for the company's entry into India's burgeoning electric two-wheeler market. This approval not only validates the product's safety and performance but also signals SRIVARU's readiness to compete in a rapidly growing sector.
The Indian EV market presents a substantial opportunity, particularly in the premium-affordable segment. SRIVARU's focus on high-performance electric motorcycles with advanced features could appeal to urban commuters and tech-savvy consumers. However, success will depend on:
- Effective marketing and brand positioning
- Competitive pricing strategy
- Building a robust distribution and service network
While the certification is a positive step, investors should monitor SRIVARU's ability to scale production, manage supply chains and achieve profitability in a competitive landscape dominated by established players and new entrants alike.
GRAND CAYMAN, Caman Islands, Sept. 26, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, announced today that it has successfully obtained certification from India's Central Motor Vehicles Rules (CMVR) agency for PRANA 2.0 models, which include the PRANA Grand and PRANA Elite. This regulatory approval marks a significant achievement in SRIVARU's mission to deliver innovative, eco-friendly transportation solutions to the rapidly expanding electric two-wheel vehicle market in India.
The certification of PRANA 2.0, high-speed electric motorcycles, under India's updated CMVR is a landmark achievement for the Company. The newly updated CMVR standards have stringent requirement for vehicle safety, battery efficiency, and long-term durability, making certification a rigorous process. SRIVARU’s successful navigation of the updated CMVR underscores the Company’s technical expertise and unwavering commitment to executing its vision of delivering high-quality, innovative electric vehicles.
The CMVR certification process involved extensive testing, from battery safety protocols to environmental impact assessments, ensuring PRANA 2.0 meets the highest standards in the industry. This accomplishment reflects the Company's dedication to consumer safety, vehicle performance, and sustainability.
The PRANA 2.0 series, featuring the Grand and Elite models, is designed to offer a superior riding experience with state-of-the-art technology, impressive range, and high-performance capabilities. Built for urban commuters and eco-conscious riders, PRANA 2.0 motorcycles boast a sleek design, advanced safety features, and powerful electric drivetrains, setting a new benchmark in the premium electric motorcycle segment. With an impressive range of 250 kilometers per charge and the capability to accelerate from 0 to 60 km/h in under 4 seconds, the PRANA 2.0 is both the fastest and most efficient electric motorcycle in its class available in India today.
Moreover, the CMVR certification opens the door to significant market opportunities. The electric vehicle (EV) market in India is experiencing rapid expansion, particularly in the premium yet affordable segment, which has witnessed over
The CMVR certification serves as a federal approval and marks the final step in obtaining technical clearance from the Indian Road Transport Authority. This certification confirms the Company’s adherence to India’s latest safety, performance, and environmental standards, positioning SRIVARU to capitalize on the growing demand for electric vehicles (EVs) in the country, which is one of the largest two-wheeler markets in the world. With this milestone achieved, the Company is moving forward with full commercial operations and delivery planning.
Mohanraj Ramasamy, CEO of SRIVARU, stated, "Securing CMVR certification for the PRANA 2.0 models is a key milestone necessary to begin revenue generation. This achievement validates our commitment and execution capabilities, from product design to delivering a commercially viable product that combines sleek appeal, innovation, high performance, and quality to the market. We are preparing to start PRANA 2.0 delivery to our customers. We believe this is the perfect moment to build a valuable business given the significant market opportunity and the favorable timing. We will continue to keep stakeholders updated on our progress.”
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
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