Prana 2.0 Electric Bike by Srivaru: A Game Changer in India

The electric vehicle revolution has taken India by storm, and we’re excited to introduce a game-changer in the motorcycle industry: the Prana 2.0. This cutting-edge electric bike from Srivaru Motors is making waves across the country, promising to transform the way we think about two-wheeled transportation. With its sleek design and impressive features, the Prana 2.0 is poised to shake up the motorcycle scene in India.

We’ll dive into the nitty-gritty of this groundbreaking electric bike, exploring its standout features and specs. We’ll also get to know the brains behind the innovation, Srivaru Motors, and break down the pricing options available to consumers. Plus, we’ll take a look at the electric motorcycle landscape in India and discuss Srivaru’s plans to expand both at home and abroad. So, buckle up as we take you on a ride through the world of the Prana 2.0, a true marvel in the electric vehicle space.

Unveiling the Prana 2.0: Features and Specifications

We’re thrilled to introduce you to the Prana 2.0, a groundbreaking electric motorcycle that’s set to revolutionize the way we think about two-wheeled transportation. This engineering marvel from Srivaru Motors (SVM) is packed with features that promise to deliver an unparalleled riding experience. Let’s dive into the details that make the Prana 2.0 stand out from the crowd.

Design and Esthetics

The Prana 2.0 is a sight to behold, combining sleek esthetics with practical design elements. We’ve put a lot of thought into creating a bike that not only looks good but also enhances the overall riding experience. The ergonomic seating design ensures comfort during long rides, while the colorful display adds a touch of modernity to the cockpit .

One of the standout features is the integrated mobile app, which offers real-time tracking and diagnostics . This means you can stay connected with your bike and monitor its performance right from your smartphone. It’s this kind of user-centric design that sets the Prana 2.0 apart from its competitors.

Performance Metrics

When it comes to performance, the Prana 2.0 doesn’t disappoint. At its heart lies a powerful motor capable of unleashing a robust 5.36 horsepower . This impressive powertrain allows the Prana 2.0 to accelerate from 0 to 62 mph (100 km/h) in a breathtaking 4 seconds . It’s this kind of acceleration that makes the Prana 2.0 perfect for both city commutes and highway rides.

The bike comes with four driving modes, including a reverse mode for parking assist . This feature adds to the versatility of the Prana 2.0, making it easy to maneuver in tight spaces. The sophisticated direct-drive transmission system ensures a smooth and exhilarating journey, no matter which mode you’re in .

One of the most impressive aspects of the Prana 2.0 is its top speed. We’re proud to say that this electric marvel can reach speeds of up to 123 kmph . This puts it on par with many traditional motorcycles, proving that electric doesn’t mean compromising on performance.

Battery and Range

The Prana 2.0 is equipped with a high-performance battery that’s at the core of its impressive capabilities . We’ve developed an intelligent battery system that pushes the boundaries of what’s possible in electric motorcycles.

For the Prana 2.0 Grand variant, we’ve managed to increase the expected range for standard road driving by over 20%. This means you can now expect a range well in excess of 150 km on a single charge . But if you’re looking for even more range, the Prana 2.0 Elite variant is the way to go. It offers a staggering range of over 250 kilometers on a single charge, setting a new benchmark for the industry .

We’ve also incorporated advanced safety features into our battery design. The Prana 2.0 includes temperature sensors in the battery pack, which provide audio and visual warnings before any potential degradation or fire risks . This enhanced battery system is designed to meet the newest safety standard of AIS-156 Phase 3 certification, ensuring peace of mind for our riders .

In conclusion, the Prana 2.0 is more than just an electric motorcycle – it’s a statement about the future of transportation. With its combination of stunning design, impressive performance, and industry-leading range, we believe it sets a new standard in electric mobility. Whether you’re commuting to work or embarking on a long-distance journey, the Prana 2.0 is ready to take you there in style and comfort.

Srivaru Motors: The Company Behind the Innovation

We’re excited to introduce you to Srivaru Motors, the innovative company that’s shaking up the electric motorcycle industry in India. Let’s dive into the story behind this groundbreaking venture and explore what makes it stand out in the competitive world of electric vehicles.

Founder’s Vision

At the heart of Srivaru Motors is Mohanraj Ramasamy, the visionary founder and CEO who’s driving the company’s mission to revolutionize two-wheeled transportation. Ramasamy, an industry pioneer and former senior Tesla executive, recognized a crucial gap in the motorcycle market. He saw that while the bond between riders and their bikes was deep and complex, it was in desperate need of innovation for the next generation of riders .

This realization led to the birth of Srivaru Motors, a company dedicated to providing affordable premium electric two-wheelers that offer an exceptional riding experience. Ramasamy’s vision goes beyond just creating electric motorcycles; it’s about reimagining the entire rider-motorcycle relationship for the modern age.

NASDAQ Backing

One of the most exciting developments for Srivaru Motors has been its recent business combination with Mobiv Acquisition Corp, which has catapulted the company onto the global stage. As of December 11, 2023, Srivaru’s ordinary shares and warrants began trading on NASDAQ under the ticker symbols “SVMH” and “SVMHW” . This move has positioned Srivaru as the first India-based, U.S.-listed electric motorcycle company, marking a significant milestone in the EV industry .

The NASDAQ listing has opened up new avenues for Srivaru Motors. It provides access to capital in the U.S. public markets, which we plan to use to rapidly scale our sales and marketing efforts across India and enter international markets . This backing is a testament to the potential that investors see in our unique business model and innovative products.

Manufacturing Capabilities

We’re proud of our manufacturing capabilities, which are at the core of our ability to deliver high-quality electric motorcycles. Our inaugural facility commenced operations in Coimbatore in 2017 , and since then, we’ve been continuously improving and expanding our production capabilities.

Our current manufacturing facility in Sulur, near Coimbatore, is a testament to our commitment to quality and efficiency. It’s equipped to produce more than 2,000 units monthly on a single production line during one shift . This capacity allows us to meet the growing demand for our products while maintaining the highest standards of quality.

What sets our manufacturing process apart is its scalability and efficiency. We’ve developed a lean and capital-efficient business model, including highly scalable, low-cost manufacturing, assembly, and distribution . This approach not only allows us to offer attractive sales prices but also enables us to maintain high product margins.

We’re not just focusing on quantity, though. Quality and innovation are at the forefront of our manufacturing process. We’re working with iVP Semiconductor to build the necessary electronics for PRANA and our subsequent products . This collaboration ensures that our motorcycles are equipped with cutting-edge technology, setting them apart in the market.

Looking ahead, we’re well-positioned to meet the growing demand for electric vehicles in India. With the Indian motorcycle market expected to reach USD 36.1 billion by 2027 and electric motorcycles projected to account for approximately 50% of the market share by 2030 , we’re ready to scale up production swiftly to meet this increasing market demand.

At Srivaru Motors, we’re not just manufacturing motorcycles; we’re crafting the future of transportation. With our innovative approach, strong backing, and state-of-the-art manufacturing capabilities, we’re poised to make a significant impact on the electric vehicle landscape in India and beyond.

Pricing and Variants: Breaking Down the Options

We’re excited to introduce you to the pricing and variant options for our groundbreaking Prana 2.0 electric motorcycle. At Srivaru Motors, we’ve designed two distinct variants to cater to different rider preferences and needs. Let’s dive into the details of each option and see how they stack up in the market.

Prana 2.0 Grand

The Prana 2.0 Grand is our entry-level variant, offering an impressive blend of performance and affordability. Priced at ₹2,55,150 (ex-showroom), this model is designed to make electric mobility accessible to a wider range of riders .

Key features of the Prana 2.0 Grand include:

A top speed of 123 km/hr, matching its more expensive counterpart
A certified range of 150 km on a single charge
A 5-hour charging time, perfect for overnight charging
A 5.0 kWh, 72V LFP battery pack

Despite being the more affordable option, the Grand doesn’t compromise on performance. It can accelerate from 0-60 kmph in around 4.0 seconds, providing an exhilarating ride .

Prana Elite

For riders seeking extended range and premium features, we offer the Prana 2.0 Elite. This top-tier variant is priced at ₹3,20,250 (ex-showroom) .

The Elite variant boasts several upgrades over the Grand:

An impressive certified range of 250 km on a single charge
An 8.44 kWh, 72V LFP battery pack for extended rides
An 8-hour charging time to fully replenish the larger battery

Both variants share some exceptional features, including:

Four drive modes: Practice, Drive, Sports, and Reverse
A 3-channel hydraulic brake system with engine cut-off
Dual LED headlamps for improved visibility
An all-digital instrument console with Bluetooth connectivity
GPS/GLONASS for accurate location tracking

Competitive Positioning

We’ve positioned the Prana 2.0 to offer exceptional value in the electric motorcycle market. Here’s how it stacks up against some competitors:

Price Comparison:
- Ultraviolette F77: ₹3.17 Lakh
- Komaki Ranger: ₹1.75 Lakh
- Matter Aera: ₹1.83 Lakh
Performance Comparison:
- The Prana 2.0 offers a top speed of 123 km/hr, which is competitive with the Kabira Mobility KM4000 (120 km/hr)
- Our range of 150-250 km (depending on the variant) outperforms many competitors in this price range
Features:
- The Prana 2.0’s four driving modes, including reverse for parking assist, set it apart from many competitors
- Our integrated mobile app for real-time tracking and diagnostics adds significant value

It’s worth noting that in this price range, potential buyers might also consider traditional petrol motorcycles like the Yamaha MT-15 Version 2.0 (₹2 Lakh) or the Bajaj Pulsar NS200 STD (₹1.87 Lakh) . However, the Prana 2.0 offers the unique advantages of electric mobility, including lower running costs and environmental benefits.

We’re confident that with its combination of performance, range, and innovative features, the Prana 2.0 represents excellent value in both its Grand and Elite variants. Whether you’re looking for an affordable entry into electric motorcycles or a premium riding experience with extended range, we have an option to suit your needs.

Market Potential: India’s Electric Motorcycle Landscape

We’re witnessing a remarkable transformation in India’s electric motorcycle landscape, with the market poised for explosive growth in the coming years. Let’s dive into the current market size, future projections, and the government initiatives driving this electric revolution.

Current Market Size

The electric two-wheeler market in India has experienced phenomenal growth in recent years. From a modest 53,387 electric vehicles registered in 2013, the number has skyrocketed to 28,30,565 as of August 2023 . This exponential increase reflects the growing acceptance and demand for electric mobility solutions among Indian consumers.

In 2024, we estimate that the Indian electric scooters and motorcycles market size will reach USD 681.3 million . This impressive figure underscores the rapid adoption of electric two-wheelers in the country, driven by factors such as the need for energy-efficient commutes, rising fuel prices, and increasing environmental consciousness.

Growth Projections

The future looks incredibly bright for India’s electric motorcycle market. We project that the market will advance at a staggering compound annual growth rate (CAGR) of 66.4% during 2024–2030, reaching an estimated USD 14,487.5 million by 2030 . This phenomenal growth rate highlights the immense potential and opportunities in the electric two-wheeler segment.

Moreover, the latest Economic Survey estimates that India’s overall EV market is expected to grow at a CAGR of 49% between 2022 and 2030 . By 2030, annual sales of EVs in India may cross one crore units, potentially creating five crore direct and indirect jobs . These projections paint a picture of a thriving industry with significant economic impact.

The government has set ambitious targets for EV adoption, aiming for 30% of private cars, 70% of commercial cars, 40% of busses, and 80% of two and three-wheelers to be electric by 2030 . This push towards electrification is expected to have a substantial impact on the motorcycle segment, which forms a significant portion of India’s two-wheeler market.

Government Initiatives

We’re seeing strong support from the Indian government to accelerate the adoption of electric vehicles, including motorcycles. Here are some key initiatives:

FAME India Scheme: The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles scheme, now in its second phase, has a budget allocation of INR 10,000 Cr (USD 1.20 Bn) for a period of 5 years starting from April 1, 2019 . This scheme offers incentives for electric two-wheelers, with approximately Rs 15,000 per kWh of battery capacity, up to 40% of the vehicle cost .
Production Linked Incentive (PLI) Scheme: Launched in September 2021 with a budgetary outlay of INR 25,938 Cr (USD 3.10 Bn), this scheme aims to boost domestic manufacturing of advanced automotive technology products, including electric vehicles .
GST Reduction: The government has reduced GST on electric vehicles from 12% to 5%, making them more affordable for consumers .
Infrastructure Development: The Ministry of Power has issued revised guidelines for expanding public EV charging infrastructure, involving private players in the installation of charging stations .

These initiatives, coupled with other measures like road tax waivers and green license plates for EVs, are creating a favorable environment for the growth of the electric motorcycle market in India. As we move forward, we expect these government efforts to play a crucial role in shaping the future of India’s electric mobility landscape.

Expansion Plans: Domestic and International Markets

We’re thrilled to share our ambitious expansion plans for Srivaru Motors, both in the domestic Indian market and internationally. Our strategy focuses on increasing production capacity, expanding our sales network, and venturing into new markets.

Sales Targets

We’ve set our sights high for the coming years. Our goal is to sell about 10,000 units of our electric motorcycles . To achieve this, we’re ramping up our production capabilities significantly. We aim to increase our production capacity to nearly 10,000 units per month by the end of 2024 . This substantial increase will allow us to meet the growing demand for electric two-wheelers in India.

Our manufacturing facility in Coimbatore is already producing more than 2,000 units each month on a single production line during one shift . Thanks to our advanced automated assembly and testing lines, we’re well-positioned to swiftly scale up production as market demand increases.

ASEAN Export Strategy

While our initial focus is on the domestic market, we’re not limiting ourselves to India’s borders. We have exciting plans to expand into the ASEAN (Association of Southeast Asian Nations) countries . Our export strategy will begin with Malaysia and Singapore, where we already have a footprint and infrastructure in place .

This expansion into ASEAN markets is a strategic move that aligns with the growing demand for electric vehicles in the region. By leveraging our existing presence in these countries, we’re poised to tap into new markets and establish Srivaru Motors as a global player in the electric motorcycle industry.

Retail Network Development

To support our ambitious sales targets and expansion plans, we’re developing a robust retail network across India. Our strategy involves setting up a pan-India sales network across key areas of the country . We intend to establish “less than 100” branches, which will comprise both company-owned outlets and franchise models .

Our retail expansion plan is set to unfold over the next one to two years. Initially, we’re focusing on metropolitan areas, recognizing the higher adoption rates of electric vehicles in urban centers . This approach allows us to target areas with the highest potential for electric motorcycle sales while gradually expanding our reach.

We’re particularly excited about our prospects in Tamil Nadu, which accounts for more than 40% of the country’s electric vehicle demand . This positions us strategically in a large and rapidly expanding market, providing a solid foundation for our growth plans.

The timing of our expansion couldn’t be better. India’s motorcycle market achieved revenues exceeding USD 25.60 billion in 2023, with projections indicating growth to USD 36.10 billion by 2027 . Even more promising is the forecast that by 2030, electric motorcycles will account for approximately 50% of the market share, a significant increase from the current 3% . This represents a tremendous opportunity for growth, and we’re positioning Srivaru Motors to capitalize on this trend.

As we move forward with our expansion plans, we’re committed to maintaining the high quality and innovative features that set our PRANA 2.0 electric motorcycle apart. With our strategic focus on increasing production, expanding our retail network, and venturing into international markets, we’re confident in our ability to meet the growing demand for electric two-wheelers and establish Srivaru Motors as a leader in the industry.

Our expansion strategy is backed by significant investment, with a total capital infusion of USD 15 million for the introduction of our maiden product, the PRANA, in 2021 . This financial backing, combined with our innovative approach and strategic planning, positions us well to achieve our ambitious goals in both the domestic and international markets.

Conclusion

The Prana 2.0 electric bike from Srivaru Motors has a significant influence on India’s electric vehicle landscape. With its impressive features, competitive pricing, and backing from industry leaders, it’s poised to shake up the motorcycle market. The company’s ambitious expansion plans, both domestically and internationally, show its commitment to meeting the growing demand for electric two-wheelers.

As India moves towards a greener future, electric motorcycles like the Prana 2.0 are set to play a crucial role. With government support and changing consumer preferences, the stage is set for a revolution in the two-wheeler industry. Srivaru Motors, with its innovative approach and strategic vision, is well-positioned to lead this charge, offering riders a compelling blend of performance, sustainability, and style.

FAQs

What are some of the best electric bikes available in India in 2024? In 2024, India’s top electric bikes include the OLA S1 X starting at ₹89,999, Bounce Infinity E1+ from ₹1.03 lakh, Hero Electric Optima CX at ₹1.07 lakh, Hero Electric Photon for ₹1.11 lakh, Bajaj Chetak priced at ₹1.15 lakh, Ather 450X Gen 3 from ₹1.26 lakh, OLA S1 Pro at ₹1.4 lakh, and the TVS iQube.

Who founded Srivaru Motors and what is their background? Mohanraj Ramasamy is the CEO and Founder of SRIVARU Holding. He is known for his resilience and strategic approach in the automotive and technology sectors, focusing on innovation and excellence.

What is the cost of the Prana electric bike in Delhi? In Delhi, the Prana electric bike by Srivaru Motors starts at an ex-showroom price of Rs 2.55 Lakh for the Prana Grand variant. The higher-end Prana Elite variant is priced at Rs 3,20,250 ex-showroom.

What is the maximum speed of the Srivaru Motors Prana electric bike? The Srivaru Motors Prana electric bike can reach a top speed of 123 km/h.