On Thursday, SRIVARU Holding Limited (NASDAQ:SVMH) said it has obtained certification from India’s Central Motor Vehicles Rules (CMVR) agency for PRANA 2.0 models, including the PRANA Grand and PRANA Elite.
The regulatory approval marks a significant achievement in SRIVARU’s mission to deliver its transportation solutions to India’s rapidly expanding electric two-wheel vehicle market.
The certification of PRANA 2.0, high-speed electric motorcycles, under India’s updated CMVR is a landmark achievement for the company.
The CMVR certification process involved extensive testing, from battery safety protocols to environmental impact assessments.
The PRANA 2.0 series features the Grand and Elite models. It has a range of 250 kilometers per charge and can accelerate from 0 to 60 km/h in under 4 seconds.
The company claims that 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. India’s electric vehicle (EV) market is experiencing rapid expansion, particularly in the premium yet affordable segment, which has witnessed over 23% year-over-year growth.
The CMVR certification is federal approval and marks the final step in obtaining technical clearance from the Indian Road Transport Authority.
Mohanraj Ramasamy, CEO of SRIVARU, stated, “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.”
Last week, SRIVARU received a favorable decision from the Nasdaq Hearings Panel that granted the company’s request for continued listing on Nasdaq, and it is expected to provide SRIVARU with the necessary time to implement its plan to regain compliance with Nasdaq’s listing requirements.
Price Action: At the last check on Thursday, SVMH stock was up 1.16% at $0.087 during the premarket session.
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This article EXCLUSIVE: SRIVARU’s PRANA 2.0 Electric Motorcycle Earns Key Indian Certification originally appeared on Benzinga.com
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