On Thursday, SRIVARU Holding Limited (NASDAQ:SVMH) said it has received 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 milestone in SRIVARU’s mission to provide transportation solutions to the fast-growing Indian electric two-wheeler market.
The certification of PRANA 2.0, high-speed electric motorcycles, under India’s updated CMVR is a milestone for the company.
The CMVR certification process involved extensive testing, from battery safety protocols to environmental impact assessments.
The PRANA 2.0 series includes the Grand and Elite models. It has a range of 250 kilometers per charge and can accelerate from 0 to 60 km/h in less than 4 seconds.
The company claims that the PRANA 2.0 is both the fastest and most efficient electric motorcycle in its class currently available in India.
Furthermore, the CMVR certification opens the door to significant market opportunities. The electric vehicle (EV) market in India is experiencing rapid expansion, especially in the premium yet affordable segment, which has witnessed a growth of over 23% year-on-year.
The CMVR certification is a federal approval and marks the final step in obtaining technical approval from the Indian Road Transport Authority.
Mohanraj Ramasamy, CEO of SRIVARU, said: “Obtaining CMVR certification for the PRANA 2.0 models is a significant milestone required to generate revenue… We are gearing up to start delivering PRANA 2.0 to our customers.”
Last week, SRIVARU received a favorable decision from the Nasdaq Hearings Panel, which approved the company’s request to be allowed to continue listing on Nasdaq. This is expected to provide SRIVARU with the necessary time to implement its plan to return to Nasdaq compliance. Nasdaq Listing Requirements.
Price promotion: At last check on Thursday, SVMH shares were up 1.16% to $0.087 during the pre-market 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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