The AI platform manages over 2,000 daily inquiries related to the PRANA 2.0 online booking launch

GRAND CAYMAN, Cayman Islands and COIMBATORE, India, July 08, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH; SVMHW) (“SRIVARU” or the “Company”), a provider of premium electric motorcycles, announced today the successful deployment of advanced AI tools to manage its lead generation platform. This deployment follows the Company’s June 16^th launch of its booking platform for its flagship product, the PRANA 2.0, a cutting-edge performance electric motorcycle engineered with a focus on value. Since the launch, PRANA 2.0 has received over 2,000 inquiries daily.

The PRANA 2.0, a standout in the premium motorcycle category, has garnered extensive interest from customers eager to learn about the product, request test drives, and proceed with bookings. To address the significant volume of inquiries, SRIVARU has deployed advanced AI tools to manage the customer lead generation platform. AI tools are now handling lead generation, ensuring that the right customers receive the right information, followed by live conversations when necessary. This AI-driven lead management approach is expected to help the Company reach customers faster and reduce customer acquisition costs.

Mohanraj Ramasamy, CEO of SRIVARU, stated, “Thanks to the implementation of advanced AI tools on our lead generation platform, we have revolutionized SRIVARU's lead management process. The AI's ability to swiftly analyze and respond to customer inquiries has optimized the use of resources to date, which we expect will make it an ideal fit for our growth strategy. The deployment of AI has allowed SRIVARU to maintain momentum and handle customer demand efficiently. This is an exciting time for our business, and so far, we are seeing remarkable results thanks to AI. We believe that our AI integration not only optimizes lead management but also positions SRIVARU to use resources effectively for growth as we continue to innovate in the electric motorcycle industry.”

About SRIVARU Holding Ltd.

SRIVARU is the parent company of SRIVARU Motor Private Ltd., a provider of premium electric motorcycles 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://www.srivarumotors.com/.

Forward Looking Statements

This communication may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning SRIVARU’s possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and the effects of regulation, including whether the business will generate returns for shareholders. These forward-looking statements are based on SRIVARU’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this communication, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside SRIVARU’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the outcome of any legal proceedings that may be instituted against SRIVARU or others; (b) SRIVARU’s ability to continue to meet the Nasdaq’s listing standards; (c) the ability of SRIVARU to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (d) changes in applicable laws or regulations; (e) consumers’ willingness to adopt electric vehicles and electric motorcycles in particular; (f) the possibility that SRIVARU may be adversely affected by other economic, business and/or competitive factors, geopolitical conflicts, the effects of inflation and potential recessionary conditions; (g) SRIVARU’s execution of anticipated operational efficiency initiatives, including low-cost manufacturing and distribution, and financing arrangements; and (h) other risks and uncertainties indicated from time to time under “Risk Factors” in documents filed or to be filed with the SEC by SRIVARU. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SRIVARU assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. SRIVARU does not give any assurance that it will achieve its expectations.

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