Srivaru Motors launches electric bike PRANA 2.0

• The bike boasts a range of up to 250km on a single charge.
• CEO says that Tamil Nadu alone accounts for over 40% of India’s electric vehicle demand, illustrating the state’s pivotal role in the national transition towards electric mobility.
• By 2030, electric motorcycles likely to account for nearly 50% of the two-wheeler market, a remarkable shift from the current 3%.
• Srivaru  also prepares to launch its range of electric scooters under the brand “ALIVE” in upcoming months.

The rapidly evolving landscape of electric mobility is witnessing an exciting development with the launch of the PRANA 2.0, an upgraded version of Srivaru Motors’ flagship electric motorcycle.

Priced at Rs2.55 lakh (ex-showroom), this new model signifies the company’s commitment to innovation and its ambition to carve a significant niche in the electric vehicle (EV) market.

Based in Coimbatore, Tamil Nadu, and backed by NASDAQ-listed SRIVARU Holding Ltd in the United States, Srivaru Motors is poised to play a pivotal role in the future of sustainable transportation.

The founder and CEO of the company, Mohanraj Ramasamy, emphasised the extensive research and testing that preceded the PRANA 2.0’s launch. Over the last two years, the company executed a thorough examination of its product line, resulting in enhancements that exceed one hundred new components compared to its predecessor, the original PRANA, which debuted in 2021.

The dedication to quality assurance underscores Srivaru Motors’ strategy to produce not just another electric motorcycle, but one that promises enhanced performance, reliability, and user experience.

Designed and manufactured at their modern facility in Sulur, near Coimbatore, the PRANA 2.0 boasts a range of up to 150 kilometres on a single charge, making it a viable option for urban commuters seeking sustainable transportation solutions.

Additionally, the introduction of the PRANA Elite, priced at Rs3,20,250, extends the range to 250 kilometres per charge, catering to a broader segment of consumers who may require longer-range capabilities.

Market ambitions

Srivaru Motors aims to sell about 10,000 units of the PRANA 2.0 in the domestic market while setting its sights on international exports, particularly to Southeast Asian nations such as Malaysia and Singapore.

The ambition is driven by the growing demand for electric vehicles in these regions, where infrastructure and market acceptance are already evolving positively.

Ramasamy mentioned that Tamil Nadu alone accounts for over 40 per cent of India’s electric vehicle demand, illustrating the state’s pivotal role in the national transition towards electric mobility.

Moreover, the domestic motorcycle market achieved exceptional revenues exceeding $25.6 billion in 2023, with projections indicating growth to $36.1 billion by 2027.

By 2030, it is anticipated that electric motorcycles will account for nearly 50 per cent of the two-wheeler market, a remarkable shift from the current 3 per cent. The statistic outlines a significant opportunity for companies like Srivaru Motors to expand their market share and influence within the burgeoning EV sector.

Retail network expansion

To support its ambitious sales targets, the company plans to establish a retail network that incorporates fewer than 100 branches. This network will include both company-owned outlets and franchise models, with a primary focus on metropolitan areas.

Ramasamy indicates that the rollout of this network may take one to two years, highlighting the company’s methodical approach to scaling operations and ensuring a robust market presence.

The  strategic decision to begin in urban centres aligns with global trends indicating that metropolitan areas are typically early adopters of electric vehicles due to greater environmental awareness, infrastructure readiness, and government incentives aimed at reducing emissions. Consequently, by targeting these markets, Srivaru Motors can effectively establish brand loyalty and trust with its customer base before expanding into tier-two cities and rural regions.

Commitment to innovation

Beyond the introduction of the PRANA 2.0, Srivaru Motors is also preparing to launch its range of electric scooters under the brand “ALIVE” in the upcoming months. The  diversification signifies the company’s commitment to addressing a broader segment of the mobility market, thus positioning itself as a comprehensive player in the electric vehicle sector.