SRIVARU Motors launches PRANA 2.0 e-motorcycle starting INR 2.55 lakhs • EVreporter

SRIVARU Holding Limited, a company listed on Nasdaq under the ticker “SVMH”, has launched an electric motorcycle PRANA 2.0 starting at INR 2,55,150. During the launch event in Chennai, Mohanraj Ramasamy, the Founder and CEO of Srivaru Motors, unveiled the electric bike. Deliveries are expected to start end of Aug 2024. Two product variants were launched: PRANA 2.0 Grand and Elite.

Mohanraj Ramasamy, Founder and Chief Executive Officer of Srivaru Motors, said, “Tamil Nadu accounts for more than 40% of the country’s electric vehicle demand, positioning us in a rapidly expanding market. In 2023, India’s motorcycle market achieved revenues exceeding USD 25.6 billion, with projections indicating growth to USD 36.1 billion by 2027. By 2030, it is anticipated that electric motorcycles will account for approximately 50% of the market share, a significant increase from the current 3% share of electric two-wheelers in India. The EV sector is expected to be instrumental in India’s shift towards a low-carbon economy.”

The company’s inaugural facility commenced operations in Coimbatore in 2017. The latest iteration of the electric bike, PRANA 2.0, has undergone nearly two years of testing and now features over 100 new components compared to its predecessor. Our manufacturing facility is equipped to produce more than 2,000 units monthly on a single production line during one shift. With our advanced automated assembly and testing lines, we can swiftly scale up production to meet increasing market demand, he added. The company is working with iVP Semiconductor to build necessary electronics with PRANA and subsequent products.

Main features:

– The vehicle can go 0-60 km/h in less than 4 seconds. Top speed – 123 kmph, Range – 250 km

– The 72V LFP battery pack is available in capacities of 5.0 kWh (Grand) or 8.44 kWh (Elite).

– The vehicle features a BLDC Motor and an air-cooled BLDC controller with an operating voltage range of 42-72 V DC.

– The battery can be charged 0-100% in 8 hours.

Yuvaraj Sankar, Director of Engineering at Srivaru Motors, added that the battery pack consists of 46120 cells, and the vehicle offers four driving modes, producing different user ride experiences in terms of vehicle performance and torque, including a reverse mode for convenient parking assistance. PRANA holds multiple granted patents and utilizes the most efficient in-wheel motor featuring a detachable rim, enhancing serviceability.