GRAND CAYMAN, Cayman Islands and COIMBATORE, India, May 14, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a provider of premium electric motorcycles, today announced that its flagship model, the PRANA 2.0, has successfully completed Electromagnetic Compatibility (EMC) and Electromagnetic Interference (EMI) testing, marking a significant milestone in the vehicle's development and regulatory compliance process.
The PRANA 2.0, a cutting-edge performance electric vehicle (EV) engineered with a focus on value, is currently undergoing testing requirements mandated by the Central Motor Vehicles Rules (CMVR). The successful completion of EMC/EMI testing marks a pivotal advancement in this regulatory process.
EMC/EMI testing ensures that electronic devices and systems, including electric vehicles, comply with regulatory standards regarding electromagnetic emissions and susceptibility. Achieving compliance in this area is particularly significant for electric vehicles like the PRANA 2.0, where the integration of advanced electronics and electrical systems is fundamental to its operation and performance.
Mohanraj Ramasamy, CEO of SRIVARU, commented, “This completion of EMC/EMI testing highlights our dedication to providing customers with high-quality, compliant electric vehicles. As we advance through the CMVR testing phase, and complete the remaining tests, it ensures the reliability and performance of the PRANA 2.0, strengthening our position in the swiftly evolving EV market.”
“SRIVARU remains steadfast in its dedication to innovation and excellence in EV technology. The PRANA 2.0 embodies this commitment, offering drivers an enticing blend of performance, value, and sustainability. Boasting cutting-edge features such as smart riding capabilities, unlimited connectivity with GPS access, a proprietary sequential braking system, and a 4-mode driving option including reverse for parking assistance, the PRANA 2.0 delivers unparalleled performance and range, thanks to our continuous technological advancements. PRANA 2.0 offers a personalized riding experience that fosters a unique connection between the rider and the machine, characterized by its Silent, Strong, & Seriously fun nature. With the completion of EMC/EMI testing, we believe we are one step closer to introducing this state-of-the-art electric vehicle to the market.”
About SRIVARU Holding Ltd.
SRIVARU is the parent company of SRIVARU Motor Private Ltd., a provider of premium e-motorbikes in India. SRIVARU was founded on the realization that while the rider-motorcycle relationship is deep and complex, it is in desperate need of innovation for the next generation of riders. SRIVARU provides affordable premium electric two-wheeled vehicles (“E2W”) that provide an exceptional riding experience with redundant 3-channel automated braking, a low center of gravity to improve stability, enhanced safety features, and easy charging compatible with home charging outlets. The company has a broad array of intellectual property, including a patent-pending chassis and drive acceleration system. In addition, SRIVARU offers customers a superior total cost of ownership, compared to traditional internal combustion engine motorcycles and E2W vehicle competitors. Additional information about the company is available at: http://www.srivarumotors.com/.
Forward Looking Statements
This communication may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning SRIVARU’s possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and the effects of regulation, including whether the business will generate returns for shareholders. These forward-looking statements are based on SRIVARU’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this communication, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside SRIVARU’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the outcome of any legal proceedings that may be instituted against SRIVARU or others; (b) SRIVARU’s ability to continue to meet the Nasdaq’s listing standards; (c) the ability of SRIVARU to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (d) changes in applicable laws or regulations; (e) consumers’ willingness to adopt electric vehicles and electric motorcycles in particular; (f) the possibility that SRIVARU may be adversely affected by other economic, business and/or competitive factors, geopolitical conflicts, the effects of inflation and potential recessionary conditions; (g) SRIVARU’s execution of anticipated operational efficiency initiatives, including low-cost manufacturing and distribution, and financing arrangements; and (h) other risks and uncertainties indicated from time to time under “Risk Factors” in documents filed or to be filed with the SEC by SRIVARU. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SRIVARU assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. SRIVARU does not give any assurance that it will achieve its expectations.
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