Srivaru Motors, based in Tamil Nadu, has introduced the upgraded PRANA 2.0, a premium electric motorcycle priced at Rs 2.55 lakh (ex-showroom). The company, headquartered in Coimbatore, aims to sell 10,000 units and expand its market to ASEAN countries, according to Founder and CEO Mohanraj Ramasamy.
Supported by the U.S.-based SRIVARU Holding Ltd., Srivaru Motors initially launched the PRANA electric motorcycle in 2021 with an investment of USD 15 million. The latest version, PRANA 2.0, comes after two years of rigorous testing and features over 100 new components. Production is underway at their Sulur facility, which has a monthly capacity of 2,000 units.
The PRANA 2.0, priced at Rs 2,55,150 in Chennai, offers a range of up to 150 km per charge. Additionally, the company launched the PRANA Elite, priced at Rs 3,20,250, with a range of up to 250 km per charge. Srivaru Motors plans to establish a retail network with fewer than 100 branches, focusing initially on metropolitan areas.
Ramasamy highlighted that Tamil Nadu contributes to over 40% of India’s electric vehicle demand. He also noted the rapid growth in India’s motorcycle market, predicting that electric motorcycles could capture around 50% of the market share by 2030, up from the current 3% for electric two-wheelers. Looking ahead, Srivaru Motors is preparing to launch its electric scooters under the brand “ALIVE” in the near future.
