GRAND CAYMAN, Cayman Islands, Aug. 12, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) ("SRIVARU" or the "Company"), a manufacturer of premium electric motorcycles, announced today that the official launch of the highly anticipated PRANA 2.0 has been scheduled for August 22nd, 2024, in Chennai, India. This launch will represent a major milestone for the Company, highlighting years of commitment to advancing the frontier of electric motorcycle technology.

Event Details:

• Time: 10:00 AM IST
• Date: August 22, 2024
• Location: Radisson Blu, Chennai City Centre, Chennai, India
  

The PRANA 2.0 stands as a testament to SVMH's commitment to excellence, offering groundbreaking features that set it apart in the market. With a remarkable range of 250 kilometers per charge and the ability to accelerate from 0 to 60 km/h in under 4 seconds, the PRANA 2.0 is not only the fastest but also the most efficient electric motorcycle available in India today in its class.

"We are proud to unveil the PRANA 2.0, an all-electric vehicle that we have spent years developing with a focus on delivering the best riding experience, optimal quality, style, engineering, serviceability, and the best total cost of ownership, embodying the future of electric mobility," said Mohanraj Ramasamy, CEO of SRIVARU. "This launch is the culmination of our relentless pursuit of innovation, and we are excited to bring to the market a product that is unparalleled in its technology, design, and rider comfort. PRANA 2.0 will redefine the electric motorcycle industry for years to come."

"We will enter Phase 2 of our corporate strategy with the launch of Prana 2.0, subsequently aiming to achieve the Company's medium- and long-term goals," stated Adron Leow, CFO of SRIVARU.

The PRANA 2.0's unmatched performance is a result of extensive research and development, aimed at delivering an extraordinary riding experience while maintaining the highest standards of sustainability. We believe the introduction of PRANA 2.0 represents a significant leap forward for the electric vehicle industry, offering consumers a product that is not only environmentally friendly but also superior in performance.

SRIVARU invites the media, industry professionals, and enthusiasts to join them for the launch event in Chennai, India where they will unveil the PRANA 2.0 to the world. Attendees will have the opportunity to experience firsthand the innovative features and exceptional performance of PRANA 2.0.

For more information about the PRANA 2.0 and SRIVARU, please visit or .

About SRIVARU

SRIVARU Holding Limited, a Cayman Islands exempted company, is the parent company of SRIVARU Motor Private Ltd., a commercial-stage provider dedicated to designing and manufacturing premium electric motorcycles 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 E2W vehicles 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. SRIVARU additionally oversees a manufacturing subsidiary set to play a crucial role in achieving the company's vision for sustainable and innovative mobility. Additional information about the company is available at: . With a focus on innovation, sustainability, and performance, SRIVARU aims to redefine the future of mobility.

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, respectively. 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) the inability to obtain financing to complete the Company's planned expansion; (c) the inability to successfully appeal the Nasdaq's delisting determinations; (d) the risk that current plans and operations of SRIVARU or its subsidiaries are disrupted as a result of the announcement and consummation of the Business Combination; (e) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of SRIVARU to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (f) costs related to ongoing operations; (g) the possibility that SRIVARU may be adversely affected by other economic, business, and/or competitive factors; (h) SRIVARU's ability to execute its business plans and strategies, (i) SRIVARU's estimates of expenses and profitability and (j) other risks and uncertainties indicated from time to time in SRIVARU's public filings with the SEC, including those under "Risk Factors" therein.

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, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. SRIVARU gives no assurance that it will achieve its expectations.

Company Details:

SRIVARU Holding Limited
2nd Floor, Regatta Office Park, West Bay Road
P.O. Box 10655
Grand Cayman, KY1-1006
Cayman Islands

Investor & Media Contact:

Investor Relations
SRIVARU Holding Limited
Email: ir@srivarumotors.com
Phone: +1 (888) 227-8066

A photo accompanying this announcement is available at