Srivaru Nears Completion of State-Of-The-Art and Highly Automated EV Motorcycle Manufacturing Facility
SRIVARU Holding Limited (SVMH)
Company Research
Source: GlobeNewswire
New facility expected to be fully operational in April 2024 Initial stage designed to provide capacity for over 2,000 electric motorcycles per month Ability to increase production capacity to over 50,000 electric motorcycles with additional lines and shifts GRAND CAYMAN, Cayman Islands and COIMBATORE, India, March 14, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a prominent provider of premium electric motorcycles, today announced that it is near completion of its new, state-of-the-art manufacturing facility in Coimbatore, India, which is expected to be fully operational in April 2024. We expect the new manufacturing facility will initially provide the Company with the capacity to produce over 2,000 bikes per month, operating just a single shift and single line. The facility incorporates advanced automation systems, expected to significantly enhance manufacturing efficiency and operating margins. The new facility’s prod
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