CHENNAI, Aug 23 : Srivaru Holding Limited, a company listed on Nasdaq under the ticker “SVMH”, on Friday launched Prana 2.0 a premium all-electric performance two-wheeler motorcycle in Chennai marking a pivotal moment in the evolution of urban mobility solutions.
PRANA 2.0 pricing starts at Rs 2,55,150.
Recently, there has been a remarkable surge in the benefit of electric two-wheelers and the interest of young individuals towards acquiring electric motorcycles in India.
Srivaru Motors has relentlessly assessed the Indian market and attentively engaged with the youth of India to introduce an exceptional and unparalleled electric motorcycle, PRANA 2.0.
Speaking at the launch event, Mr. Mohanraj Ramasamy, the Founder and CEO of Srivaru Motors, said “I am thrilled to announce the launch of our latest PRANA 2.0 in Chennai, the Automotive Hub of India.”
“Tamil Nadu accounts for more than 40% of the country’s electric vehicle demand, positioning us in a rapidly expanding market. We are operating in a dramatic growth market. In 2023, India’s motorcycle market achieved revenues exceeding USD 25.6 billion, with projections indicating growth to USD 36.1 billion by 2027″, he said.
By 2030, it was anticipated that electric motorcycles will account for approximately 50% of the market share, a significant increase from the current 3% share of electric two-wheelers in India. This signifies a tremendous opportunity for growth. The Indian government has outlined its ambition to transform the nation into a developed country by the year 2047.
Given the lack of natural oil resources and the ongoing public concern regarding environmental pollution, the government acknowledges that alternative energy sources are crucial for ensuring sustainable economic growth. Consequently, there is a significant emphasis on the transition to Electric Vehicles (EVs). The EV sector is expected to be instrumental in India’s shift towards a low-carbon economy.”
Mr. Mohanraj Ramasamy said “Our inaugural facility center commenced operations in Coimbatore in 2017. The latest iteration of our electric bike, PRANA 2.0, has undergone nearly two years of testing and now features over 100 new components compared to its predecessor. We are introducing a product to the market that stands out for its advanced technology and innovative features.”
“Our manufacturing facility is equipped to produces more than 2,000 units every month on a single production line during one shift. With our advanced automated assembly and testing lines, we can swiftly scale up production to meet the increasing market demand”, he added.
“We intend to allocate a substantial amount towards our research and development efforts over the next three years”, he said.
Mr. Yuvaraj Sankar, Director of Engineering, said PRANA 2.0 features remarkable performance achieving a Top Speed of 123 km/h with an impressive range of 250 kms, complemented by user-friendly serviceability and enhances user experience through its refined Suspension System and Vibrant Display. (UNI)
Follow our WhatsApp channel
