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March 13, 2023 SRIVARU, a Leading Commercial-Stage Provider of Premium E-Motorbikes, to Become Publicly Listed on Nasdaq via Business Combination with Mobiv

SRIVARU targeting vehicle sales revenue of US$39 million for the fiscal year ending March 31, 2024, US$117 million for the fiscal year ending March 31, 2025, and US$553 million for the fiscal year ending March 31, 2026

https://www.globenewswire.com/en/news-release/2023/03/13/2625678/0/en/SRIVARU-a-Leading-Commercial-Stage-Provider-of-Premium-E-Motorbikes-to-Become-Publicly-Listed-on-Nasdaq-via-Business-Combination-with-Mobiv.html

Why SRIVARU https://mobiv.ac/

SRIVARU is not a phantom, SRIVARU is reality. The company has developed India’s fastest mass production electric motorcycle on the road, featuring state-of-the art technology, engineering, a three-channel efficient braking system, an intelligent battery power management system that exceeds the current regulatory standards in India as well as a patent owned Motorcycle Chassis with Traction Battery Pack Protection System besides other comprehensive safety features.

SRIVARU offers a capital-efficient business model, including highly scalable, low-cost manufacturing, assembly and distribution. It enables the company to offer attractive sales prices with high margins in one of the world’s largest and fastest-growing markets for two-wheeled vehicles.

https://srivarumotors.com/ “ The Indian motorcycle market is forecast to exceed $36 billion by 2027. The EV segment is growing extremely fast, and is projected to reach 45-50% of the overall market by 2030.

May 1, 2023
https://finance.yahoo.com/news/srivaru-announces-launch-prana-2-120000114.html

About Mobiv https://mobiv.ac/

Mobiv is a newly incorporated company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with a target business. On March 13, 2023, Mobiv announced it had entered into a business combination agreement, whereby Mobiv will combine with SRIVARU Holding Ltd, a commercial-stage provider of premium electric motorcycles, to create a new publicly traded company. The transaction is expected to provide SRIVARU with access to additional capital and position the company to accelerate the commercial rollout-out of its E2W vehicles in the Indian market. Additional information about the company is available at:


On March 13, 2023, SRIVARU announced an agreement for a business combination with Mobiv Acquisition Corp (“Mobiv”) (Nasdaq: MOBVU, MOBV, MOBVW), which is expected to result in SRIVARU becoming a public company listed on the Nasdaq Stock Exchange and is expected to close in the first half of 2023, subject to customary closing conditions.

About SRIVARU Holding Ltd.

SRIVARU is the parent company of SRIVARU Motor Private Ltd., a leading commercial-stage provider of premium e-motorbikes in India. SRIVARU was founded on the realization that while the rider-motorcycle relationship is deep and complex, it is in desperate need of innovation for the next generation of riders. SRIVARU provides affordable premium electric two-wheeled vehicles (“E2W”) that provide an exceptional riding experience with redundant 3-channel automated braking, a low center of gravity to improve stability, enhanced safety features, and easy charging compatible with home charging outlets. The company has a broad array of intellectual property, including a patent-pending chassis and drive acceleration system. In addition, SRIVARU offers customers a superior total cost of ownership, compared to traditional internal combustion engine motorcycles and E2W vehicle competitors. Additional information about the company is available at: https://srivarumotors.com/