SRIVARU Nears Completion Of Highly Automated EV Motorcycle Manufacturing Facility
Portfolio Pulse from Benzinga Newsdesk
SRIVARU Holding Limited (NASDAQ: SVMH, SVMHW) is nearing completion of a new EV motorcycle manufacturing facility in Coimbatore, India, expected to be operational by April 2024. The facility, designed for high automation and scalability, will initially produce over 2,000 motorcycles per month, with potential expansion to over 50,000 units annually. This development is part of SRIVARU's strategy to capture a significant share of the global EV motorcycle market, which is anticipated to grow substantially, especially in India.
March 14, 2024 | 12:32 pm
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SRIVARU's new manufacturing facility is expected to significantly boost its production capacity and efficiency, positioning the company to meet the growing demand for EV motorcycles, especially in the lucrative Indian market.
The completion of the highly automated manufacturing facility directly impacts SRIVARU's ability to scale production and meet the anticipated demand in the EV motorcycle market. This strategic development is likely to be viewed positively by investors, potentially leading to an increase in SVMH's stock price in the short term.
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