The Indian motorcycle market is expected to reach revenues of US $ 25.6 billion in 2023, growing to US $ 36.1 billion by 2027 (source: Statista/Mobility Markets Insights/Motorcycle Market India).The transaction is expected to result in the first U.S.-listed electric motorcycle company with manufacturing facilities based in India, one of the world’s largest and fastest-growing market s for two-wheel ed vehicles (source: UnivDatos (UMI) ).

The transaction is expected to provide SRIVARU with access to additional capital and position the company to accelerate the commercial rollout-out of its electric two-wheeled (“E2W”) vehicles in the Indian market. (“SRIVARU”), a commercial-stage provider of premium electric motorcycles, to create a new publicly traded company. Delaware, USA and Coimbatore, India, Ma(GLOBE NEWSWIRE) - Mobiv Acquisition Corp (Nasdaq: MOBVU MOBV MOBVW) (“Mobiv”), a special purpose acquisition company with a focus on electric vehicles, today announced it has entered into a definitive merger agreement whereby Mobiv will combine with SRIVARU Holding Ltd.

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