market analysis & Product Development Plan

Assignment Taken

Information and Technology

Case Understanding

Case Understanding: The case study is all about scope of renewable energy in India. India’s total market share in vehicles is near about 230 million. Automobile sector is moving towards renewable source of energy that’s why they moved towards electric vehicle rather than petrol or diesel vehicles. India’s market of electric vehicles is still in infant stage and has very good growth opportunities. Government of India is also planning to cover total market of electric vehicle near about 30% by the end of 2030. This target is achieved by launching of electric two wheelers, three wheelers or commercial vehicles. According to the above case, giants players like Tesla, Tata, Toyota and many more took several steps in this direction and they are in growth stage. But Indian market is still in infant stage and it still has many more things to be achieved. Peoples of India are still in dilemma that whether we should adopt the electric vehicles or not because of several reasons which may be: • More habitual of petrol/ diesel vehicles • More innovation are still required in electric vehicles segments • Not having resources like charging station, poor body of vehicle and many more As mentioned above that there is still very high growth potential in Indian market for electric vehicle, so we as an Indian electric vehicle producer have a growth opportunities and we have to develop a business related to electric vehicle because this is the future. Also in the case it is mentioned that we are a team of 8 budding entrepreneurs and we have 40 lakhs of corpus fund and we can raise 60 lakh loans from the bank if needed at the rate of 16% p.a. If our partners wants to work with us at work from office se we have to pay 3000/ workstation and average financial expense for our staff members can be maximum 50000 which is all up to us like we want to pay that or not. One of our team members is also having experience in making electric vehicle prototype as a college project so we have to prepare our plan and will have to choose a perfect business in electric vehicle because electric vehicle is future.

BCS Solution Summary

Market Analysis • Predicted growth is 45% till 2027 • 3 wheeler segmented in e rickshaw and e autos • Segmented through battery voltage • 48v gives optimum power and better performance Product development plan summary • Customer survey • QFD matrix • Checking for motors and battery • Finalization of the design • Cross check with customers’ expectations

Solution

MARKET ANALYSIS

The predicted growth of the 3 wheeler electric Auto is 45.0% CAGR during the forecast period with its fleet size reaching 635.9 thousand units by 2027. After 2018 due to government initiative and urbanization there has been an incremental growth in the 3 wheelers electric business. The 3 wheeler electric consist of majorly e rickshaws and e autos. E-rickshaws hold the largest share in the Indian market, in terms of revenue as well as fleet size. E-rickshaws are anticipated to witness the fastest growth during the forecast period. Sealed lead acid, Li-ion, and NiMH are one of the most common battery type’s uses. Of all, sealed lead acid is the most common type of battery used in the electric two-wheelers in India. According to the voltage the market is divided / segmented into 24V, 36V, 48V, 60V, 72V. Of all 48V electric three-wheeler holds the largest share in the Indian electric three-wheeler market as it gives optimum power which helps in better performance of the vehicle

 

PRODUCT DEVELOPMENT PLAN

Before the development of the bikes start the company decides to do customer’s survey covering all aspects a person would expect from a commercial output version of the 2 wheeler electric bike. Questions regarding customers’ expectations on the type of two wheeler, maximum mileage, maximum load carrying capacity,  price, etc. are taken into account. With the help of quality function deployment the results are been analysed. With the results obtained from the QFD matrix we get the various design and functional requirement. After many road test which are been carried out with different electric motors we got results for power requirement and suitable storage device are been selected. Next the theoretical design calculations and design of various necessary components like power strain parts, battery frame, etc. are made and analysed for strength and performance. For the feasibility of implementation the designs are been studied again and again. After the finalization of the design the fabrication of the parts begins. In the fabrication phase we check are design on the prototypes to look for any flaws. Safety, simplicity and reliability are been considered as important factors right from the start of the project. In between the design, performance, etc. are been checked against the survey to check whether the resulted product are according to the customers’ expectations or not.

Conclusion

Conclusion: After reading the above case study and reading the solutions from all the departments we all are lend up with a solution that is our primary or first motive is to get stable in the market in the next 2-3 years after that we will be focusing on expansion plan, it can be introduction of new product or entry into new market that is launching our own electric charging station for public. To get stable in to market all our departments will be focusing on giving best services to customers in least cost Firstly we are focusing on 3 wheelers that are E-Autos because currently there is no such producer is available into market for autos. Only producer of E-rickshaws were available that’s why we choose E- autos, so for 1 year our proposal for fund raising is: 1.1 cr which will be divided into: • Initial Investment • Marketing Expense • Production Expense • Human Resource Expense • Financial Expense • Charging Station Expenses • Research and Development Expense • Patents and Copyrights • Legal Expenses Our primary target customer is rickshaw tempos, and pickup drivers and we will promote our products by: 1. WORD OF MOUTH 2. BEST SERVICES BEFORE SALES AND AFTER SALES 3. CUSTOMER CARE 4. INTEGRATED DIGITAL MARKETING 5. ENVIRONMENT FRIENDLY We also made several research in the market like which product is launched so we made several analysis on current situation and also projected demand for electric vehicles particularly in 3 wheelers and by this we all are lend with the final conclusion that demand for three wheelers will definitely goes up in the future and it is great opportunities for us to start our venture. For this our hiring plan is ready and we focused on following things: • Determining the budget for payroll • Identify the man audit resource • Create Job description • Sourcing of a candidate • Screening Process • Interviewing the candidate • References • Offer letter for selection of candidate • Onboarding For training we are focus on: On the Job Training and will focused on Internships, monitoring and team training and for retention we are focusing on lowering hiring cost and will gave non-monetary benefits to our staff members like stake in company and make them a part of decision making and in many more things. By this we will get stable in market and start our venture.

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