SRIVARU Holding (NASDAQ: SVMH), a commercial-stage provider of premium electric motorcycles, has completed its recent business combination with Mobiv Acquisition Corp. (NASDAQ: MOBV). According to the announcement, Mohanraj Ramasamy, a former Tesla executive, has been named CEO of the combined companies. Shares of the new company are expected to start trading on NASDAQ today under ticker symbol SVMH. The new company combines state-of-the-art technologies and a capital-efficient business model. “We look forward to the next phase of our journey within the U.S. capital markets,” said SRIVARU Holding CEO Mohanraj Ramasamy in the press release. “We believe our unique business model will drive significant value for our shareholders in the years ahead, given the sheer size of the Indian market, coupled with our global expansion plans. The Indian market alone is forecast to exceed $36 billion by 2027. Moreover, the EV segment is projected to reach 45% to 50% of the overall market by 2030. Having developed India’s fastest mass-production electric motorcycle on the road, featuring state-of-the-art technologies, we are well positioned to capture a significant share of the overall EV market. Moreover, we have developed a lean and capital-efficient business model, including highly scalable, low-cost manufacturing, assembly and distribution, to support high product margins. We plan to provide more detailed business updates in the weeks ahead, including an investor webinar, in which we plan to discuss our plans for accelerated commercialization.”
To view the full press release, visit https://ibn.fm/nk2it
About SRIVARU Holding Ltd.
SRIVARU is the parent company of SRIVARU Motor Private Ltd., a commercial-stage 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 offer an exceptional riding experience with redundant three-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. For more information about the company, please visit www.SRIVARUMotors.com.
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