SRIVARU Holding Limited Achieves CMVR Certification for PRANA 2.0 Electric Motorcycles in India
In a groundbreaking development, SRIVARU Holding Limited (NASDAQ:SVMH)(NASDAQ:SVMHW) has secured certification from India's Central Motor Vehicles Rules (CMVR) for its PRANA 2.0 electric motorcycle models. This certification marks a significant milestone for the company's entry into the Indian electric two-wheeler market.
The rigorous certification process, aligned with India's stringent CMVR standards, validates SRIVARU's commitment to quality and innovation in the electric vehicle (EV) sector. The PRANA 2.0 series, designed for urban commuters and environmentally conscious riders, offers a range of 250 kilometers on a single charge and acceleration from 0 to 60 km/h in under 4 seconds.
With this certification, SRIVARU opens up lucrative market opportunities in India's booming EV sector, which has seen a year-over-year growth of over 23%. The company's compliance with safety, performance, and environmental standards paves the way for full commercial operations and delivery planning.
CEO Mohanraj Ramasamy emphasized the importance of the CMVR certification as a key revenue-generating milestone. SRIVARU's readiness to start delivering the PRANA 2.0 models to customers signals a new phase in its business strategy.
Looking at SRIVARU's financial metrics, the company faces challenges with a market capitalization of $3.17 million and declining revenue. Analysts predict a sales decline in the current year, while the gross profit margin indicates production cost challenges that could affect pricing competitiveness in the Indian market.
Despite these challenges, the oversold stock presents an opportunity for value-oriented investors. However, the stock price has seen a significant decline, with a total return of -96.49% over the last year.
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