SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced its expansion into the Indian State of Kerala with the launch of its PRANA 2.0 electric motorcycle through a new joint dealership with Electrogreen Motors in Thiruvananthapuram, Kerala’s capital.

The joint dealership model, developed by SRIVARU, allows the Company to partner with established local dealers, leveraging their resources and market reach. This approach enables SRIVARU to expand rapidly while minimizing upfront costs and ensuring capital efficiency. The new dealership in Kerala will offer SRIVARU’s flagship electric motorcycles, the PRANA 2.0 Grand and PRANA 2.0 Elite. Both models are renowned for their performance and eco-friendly features, with an industry-leading range of 250 kilometers per charge and acceleration from 0 to 60 km/h in under 4 seconds, making them the fastest and most efficient electric motorcycles in their class.

Adron Leow, CFO of SRIVARU, stated, “Our joint dealership approach is an innovative way for us to scale quickly while delivering a consistent and premium experience to our customers. We expect this partnership to allow us to reach more consumers across Kerala, offering them our cutting-edge electric motorcycles while maintaining top-tier service quality. Kerala has been a leader in supporting electric vehicle (EV) adoption. In 2019, the state introduced one of the country’s earliest EV policies, offering incentives such as free vehicle registration, road tax exemptions, toll exemptions, and free parking for EVs. These policies have made Kerala one of India’s most successful states for the early EV adoption, providing an ideal environment for SRIVARU to expand its operations and cater to the increasing consumer demand for cleaner transportation solutions. Major Keralan cities such as Kochi, Thiruvananthapuram, Kozhikode, and Thrissur are already key markets for other premium vehicles, significantly contributing to India’s luxury automobile segment. As the demand for EVs rises, we believe SRIVARU’s expansion into Kerala positions the company to capitalize on this lucrative market with its premium electric motorcycles.”

Mr. Anwar, CEO of Electrogreen Motors, commented, “We are excited to partner with SRIVARU, as their electric motorcycles are setting new standards for performance and sustainability in India. The PRANA 2.0 series, with its combination of advanced technology and environmental benefits, is perfectly suited to the growing market demand here in Kerala. This partnership not only strengthens our current business, but we anticipate that it will also position us for future expansion in the rapidly growing EV sector.”