SRIVARU Holding Limited (SVMH) has taken a major step forward in its journey to bring its innovative electric transportation solutions to the Indian market. The company has received certification from India’s Central Motor Vehicles Rules (CMVR) agency for its PRANA 2.0 models, including the PRANA Grand and PRANA Elite. This regulatory approval marks a significant achievement for SRIVARU, paving the way for the company to introduce its high-speed electric motorcycles to a rapidly growing market.
The PRANA 2.0 series, featuring the Grand and Elite models, boasts an impressive range of 250 kilometers per charge and can accelerate from 0 to 60 km/h in less than 4 seconds. SRIVARU proudly claims that the PRANA 2.0 is the fastest and most efficient electric motorcycle in its class currently available in India. The certification process involved rigorous testing, covering aspects like battery safety protocols and environmental impact assessments, ensuring that the PRANA 2.0 meets the highest standards of quality and safety.
The CMVR certification signifies federal approval and represents the final step in obtaining technical clearance from the Indian Road Transport Authority. It opens up a world of opportunities for SRIVARU in India’s booming electric vehicle (EV) market. The premium yet affordable segment, where the PRANA 2.0 models sit, is experiencing an impressive growth rate of over 23% year-over-year.
Mohanraj Ramasamy, CEO of SRIVARU, expressed his enthusiasm about this achievement, stating, “Securing CMVR certification for the PRANA 2.0 models is a key milestone necessary to begin revenue generation…We are preparing to start PRANA 2.0 delivery to our customers.”
This news follows a favorable decision from the Nasdaq Hearings Panel last week, granting SRIVARU’s request for continued listing on Nasdaq. This decision is expected to provide the company with the necessary time to implement its plan for regaining compliance with Nasdaq’s listing requirements.
As of Thursday’s premarket session, SVMH stock was up 1.16% at $0.087. This positive development reflects investor confidence in SRIVARU’s future prospects and its potential to capitalize on the growing demand for electric vehicles in India.
