SRIVARU's PRANA 2.0 Electric Motorcycle Gains Indian Certification
SRIVARU Achieves Certification for PRANA 2.0 Models
SRIVARU Holding Limited (NASDAQ: SVMH) recently announced a significant milestone in its journey to expand into the electric motorcycle market. The company has received certification for its PRANA 2.0 models, including the highly anticipated PRANA Grand and PRANA Elite, from India’s Central Motor Vehicles Rules (CMVR) agency. This certification is pivotal in SRIVARU’s strategy to offer innovative transportation solutions in an ever-growing market.
Significance of CMVR Certification
The CMVR approval represents a notable achievement as it assures that the PRANA 2.0 motorcycles meet stringent safety and environmental standards. This comprehensive certification process involved rigorous testing, ensuring that every aspect of the motorcycle, from battery safety to eco-friendliness, aligns with Indian regulations.
Features of the PRANA 2.0 series
The PRANA 2.0 series boasts impressive specifications. Designed for performance, these high-speed electric motorcycles can travel up to 250 kilometers on a single charge and accelerate from 0 to 60 km/h in less than 4 seconds. This places the PRANA 2.0 at the forefront of efficiency and speed, claiming its title as the fastest electric motorcycle currently available in India.
Market Opportunities in Electric Vehicles
Now that SRIVARU has achieved the required CMVR certification, it opens up vast market opportunities within India’s expanding electric vehicle sector. The demand for electric motorcycles is increasing, particularly in the premium segment where it has experienced robust growth of over 23% year-over-year. SRIVARU is well positioned to tap into this lucrative market.
Comments from the CEO
Mohanraj Ramasamy, CEO of SRIVARU, emphasized the importance of this certification, 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 statement underlines the company’s readiness to meet consumer demand and the positive path ahead.
Company's Recent Developments
Additionally, SRIVARU has recently obtained a favorable ruling from the Nasdaq Hearings Panel, allowing continued listing on the Nasdaq exchange. This decision is crucial as it provides the company with the necessary time to implement its strategies for regaining compliance with Nasdaq's listing requirements. Such support bolsters SRIVARU's market position and reflects confidence in its operational plans.
Current Stock Performance
In the stock market, SRIVARU's stock (SVMH) has shown positive momentum. Most recently, it was noted to have increased by 1.16%, reaching a price of $0.087 during the premarket session. This reflects steady growth and investor confidence in the company's future prospects.
Frequently Asked Questions
What are the PRANA 2.0 models?
The PRANA 2.0 models include two high-speed electric motorcycles known as the PRANA Grand and PRANA Elite.
Why is CMVR certification important?
CMVR certification ensures that the motorcycles meet safety and environmental standards, allowing them to be sold in India.
What are the performance specs of PRANA 2.0?
The motorcycles have a range of 250 kilometers per charge and can accelerate from 0 to 60 km/h in under 4 seconds.
How is SRIVARU performing in the stock market?
SVMH stock has recently shown a positive trend, experiencing a 1.16% increase in value.
What is the future outlook for SRIVARU?
With CMVR certification and Nasdaq support, SRIVARU is poised for growth in the expanding electric vehicle market in India.
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