SRIVARU, Led by Former Tesla Executive, Makes Nasdaq Debut as First India-Based, U.S.-Listed Electric Motorcycle Company

SRIVARU Holding LimitedSubmitted Image

NEWARK, DE — SRIVARU Holding Limited, a provider of premium electric motorcycles, this week marked a significant milestone in the EV industry by becoming the first India-based, U.S.-listed electric motorcycle company. This development follows its recent business combination with Mobiv Acquisition Corp.

Mohanraj Ramasamy, former Tesla executive and founder of SRIVARU, has taken on the role of CEO of the newly merged entity. As part of this transition, SRIVARU’s ordinary shares and warrants are now trading on Nasdaq under the ticker symbols “SVMH” and “SVMHW”.

Speaking about the new phase, Ramasamy said, “We look forward to our journey within the U.S. capital markets. We believe our unique business model will drive significant value for our shareholders, given the sheer size of the Indian market and our global expansion plans.” He added that with the Indian market forecasted to exceed $36 billion by 2027 and the EV segment projected to capture 45-50% of the overall market by 2030, SRIVARU is well-positioned to secure a significant share.

Ramasamy, who has been instrumental in developing India’s fastest mass-production electric motorcycle, emphasized SRIVARU’s lean and capital-efficient business model, which includes scalable, low-cost manufacturing, assembly, and distribution, designed to support high product margins.

Peter Bilitsch, former CEO of Mobiv and new director of the Company, expressed his enthusiasm about the merger, stating, “We are honored to complete the merger, with SRIVARU, having received overwhelming support from the shareholders of both companies. I could not imagine anyone more qualified and capable to assume the helm of the combined companies than Mohan Ramasamy, given his proven industry leadership and technical prowess.”

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SRIVARU’s commitment to providing affordable premium electric two-wheeled vehicles that offer an exceptional riding experience aligns with the growing demand for sustainable transportation. As the company embarks on this new chapter, investors and industry watchers will be keenly observing its impact on the EV market in the U.S. and beyond.

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