SRIVARU’s (SVMH) Prana 2.0 Intelligent Battery System Goes Longer and Further

SRIVARU Successfully Completes Road/Performance Testing

Prana 2.0 Grand and Elite featuring the Company’s version 2.0 intelligent battery system extends on-road driving* range to 150km and 250km/charge; 2-4 times longer range than the average daily commute distance

GRAND CAYMAN, Cayman Islands and COIMBATORE, India, March 27, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a prominent provider of premium electric motorcycles, today announced it has successfully completed on-road driving range tests of the Company’s new Prana 2.0 intelligent battery system. The Prana 2.0 intelligent battery system exceeded initial performance expectations when installed in the Prana Grand and Prana Elite models, achieving an extended vehicle range in excess of 150 kilometers for the Prana Grand and 250 kilometers for the Prana Elite, both on a single charge.

Mohanraj Ramasamy, CEO of SRIVARU, stated, “We continue to be a leader in the market in terms of quality and innovation, bringing high-performance and sustainable alternatives to meet the growing demand for premium two-wheel electric motorcycles. Having just completed our on-road driving* range tests, we are extremely pleased with the impressive driving range of the Prana 2.0. Prana 2.0 achieved a range well in excess of typical electric motorcycles and surpassed our own internal targets. Previously, the Prana Grand had an expected range of 126 km for standard road driving. With the Prana 2.0 intelligent battery system, we have increased the expected range for standard road driving by over 20%, allowing us to achieve an expected range well in excess of 150 km for Prana Grand. The Prana Elite’s expected range for standard road driving has now surpassed 250 kilometers on a single charge, setting a new benchmark for the industry. We have also incorporated other enhancements, such as temperature sensors in the battery pack, which allow for audio and visual battery temperature warnings before degradation or potential fires. The new and enhanced Prana 2.0 intelligent battery system is also designed to meet the newest safety standard of AIS-156 Phase 3 certification. Overall, we believe the combination of our industry-leading technology and performance, along with the attractive price point of our electric motorcycles, positions us to become a leader in the market—not only in India but around the world.”