Innovation & Entrepreneurship

Creating a business plan /prototype of your

proposed startup
Module- I (Written component)

By Sushil kumar
To Divakar sir

1. A short description of your idea in 100-150 words. 

As we know day by day number of vehicle is increasing and due to this pollution
is also increasing, so because of this I selected electric vehicles for starting the
business plan. In this line there is big scope in future. Demand of petrol and diesel
vehicle will reduce because of pollution and scarcity of non-renewable energy.
Demand of electric vehicle in India is not high but in future peoples have to shift
on electric vehicle either they want or not. Because of pollution our climate is
change and we can easily see their effect on environment. Government is doing
their best to reduce the pollution and to increase the popularity among the people.
government is mandating and giving subsidies across various developed regions
and steadily decreasing total cost of ownership of these vehicles. increasing
concerns of tackling climate changes have led governments in emerging and
established markets set ambitious goals for electric vehicle adoption. So that’s
why I decided for opening my own start-up for producing Electric Vehicles. With
the country forecasted to become the fourth-largest EV (Electric Vehicle) market
over the next 25 years, start-ups are taking the opportunity. The increased interest
in India’s EV (Electric Vehicle) market was also evident at the Auto Show 2020,
where leading car makers showcased their latest Electric Vehicles. This field is not
touched yet so there is lot of scope in India.
2.Who are your target audience?
This exploration distinguished three objective crowd fragments as early adopters
and early larger part (liable to buy an electric vehicle throughout the following 5
years). These were: Active Environmental Segment: This gathering has solid
biosphere and selfless qualities, which they will adjust their ways of life around
According to study by Truecar it is found that Gen X is buying the most electric
vehicle approx. 40% and followed by millennials. Boomers are the one who
actually buying most than the other which comprise of electric, fuel cell vehicles,
hybrid, and plug in hybrid. Like for tesla his target audience are those people who
age lie between 45-64-year-old and have income over $100,000 and are
considered wealthy in the upper middle class. An increasing number of Indian
customers are willing to buy electric vehicle, the government has been making a
determined push towards electric mobility. Earlier this month, Union road
transport & highways minister Nitin Gadkari said that the world is no more
interested in doing business with China, which is a very good opportunity for the
Indian industry to pick up the shift in business. In India younger driver are
showing interest in buying the electric vehicle than the older one as their next
vehicle. According to survey it is found that the person who is buying the electric
vehicle is lying between the range of 30 to 39 years old.

What value do you think your start-up will add to society? (200 words)

Electricity is a one of the renewable source of energy which are those which can
be used repeatedly and it does not run out because it is naturally replaced with the
help of technology.

Better for the environment: Fully electric cars have zero tailpipe emissions making
them greener, cleaner and better for the environment than petrol or diesel cars. A
Plug-in hybrid pairs a small battery and electric motor, with a typical range of
around 30 miles, with a fuel-efficient petrol or diesel engine.
Less emission means reduced greenhouse gasses, enabling India to move towards
sustainable, renewable sources of electricity.
Cheaper to maintain: While the price of an Electric Vehicle may be similar to
most comparable petrol or diesel cars, the cost of running one is significantly
cheaper particularly over the full lifetime of the vehicle. From tax
incentives and special government grants to enhanced fuel efficiency, the
lower cost of electricity and reduced maintenance requirements, you could
spend far less on an electric vehicle than you do on your current car.

The future of driving is electric: The benefits of driving electric cars are clear.
With exciting new technologies currently being developed, which promise to cut
charging times to minutes, extend range significantly and further enhance safety
and automation features, there has never been a better time to switch to driving an
Electric Vehicle.

Electric vehicles are way quitter than the gas vehicles. When electric vehicle run
on wholly on battery than it is found that electric vehicle run very quietly in
comparison than the gas vehicle. Because of this property of electric vehicle in
some state it is kind of mandatory for electric vehicle to installed the noise makers
to let the pedestrian know that vehicle is coming. We can also say that electric
vehicle is reducing the noise pollution.

It will also increase the employment and reduce the hunger and poverty. Poverty is
the main reason for any crime and indiscrimination. So indirectly it will reduce the
crime. It will clean the country. When electric vehicle come then for that charger
station will be also made. It will replace the petrol and diesel station because of
that it will reduce pollution, many times blast happened at petrol pump due to a
small spark.

4.  Whom do you see as your competition? And how are you better than
them? 

The introduction of electric vehicles has increased more than $ 2 billion in the
United States in the first months of 2018 alone, a significant increase of more
than 650 million collected in 2017, according to data from Pitchbook. And
investment trends point to Tesla's increased competition for established car
companies and manufacturers of similar high-end real estate over the next few
years. All this work is appreciated by the size of the playing industry. It is
forecasted that electric car market will reach to 356.6 billion by 2024 with 205
billion in sales form the Asia region by the market intelligence company,
absolute reports. Despite being a relatively new entrant, Tesla has established
itself as a significant player in the global electric car market. In fact, the Tesla
Model 3 was the best-selling electric car in 2020, having sold over 3.65 lakh units,
which is over thrice the volume of the second best-seller -- the Wuling
HongGuang Mini Electric Vehicle. While Tesla has now achieved alternative
status and is the most recognizable electric carmaker in the industry, there are
other brands worldwide looking to challenge the EV giant with some rather
promising and innovative offerings. It is true that Tesla produces really good
vehicles, but the problem for every car buyer is its high price; so that’s why I had
decided to open a start-up for producing a better electric vehicle, at least in terms
of the low cost.

5.  Where do you see yourself (your start-up) 5 years down the line? 

As we know our country India is counted in the top level in term of

population. As population increase then according to that their requirement
increases and their demand for vehicle and other things that makes their life
more comfortable. So due to this many country are shifting their policy
toward the electric. Demand and use of electric as not as in other country,
that’s it is profitable to start the business in electric vehicle. Many
governments are telling their people to use electric appliance using hard way
or by giving subsidy. Earlier this month, Union road transport & highways
minister Nitin Gadkari reaffirmed India’s potential to become a major
manufacturing hub for electric vehicles in the next five years. The global
electric vehicle market size is projected to grow from 4,093 thousand units in
2021 to 34,756 thousand units by 2030, at a CAGR of 26.8%.  India has already
shown its keen interest to be a major part of this automotive paradigm shift.
After getting to know about this news, I surely could agree to the thought that it
will going to be successful. Adding to that, India has already put forward the
desire to become the biggest hub for electric vehicles in the future. Industry
leaders consider electric cars to be a promising option. Many electric
manufacturers are showing their interest in starting their business in India.

6.  Why do something so hard and unconventional over a 9-5?

According to me, the hard part about 9-5 is timings. Most of the time, it gets
so difficult to be at the office at 9 and if we cross the time limit then a penalty
is imposed. Flexible timings are very important. Fixed timings give a lot of
pressure & we feel like we are in the office just to meet time limits but not to
do work or something productive. So, according to me 9-5 jobs are really so
hard & unconventional. It is like to compel the person to be there during 9-5
but it doesn’t feel productive at all. Not for an individual & also not at
company level. There’s only a little personal development in a 9 to 5. Most
don’t have the energy to improve themselves or learn new skills after they left
work (and for good reason, I mean most have to commute home, too which
often takes up to an hour, sometimes more…so it’s often more like 10 hour
work days), so they can’t progress, they can’t take a better paying job (unless
they can climb the ladder in that company or get offers from other companies,
but again: That only happens for skill-sets that are in high demand)…most
companies don’t care, sure some offer higher paying jobs to those who truly are
working themselves to the bone, but most don’t even bother with qualifying
their workforce (they might demand higher pay or leave for the competition,
which would be bad for them) and offering them training for better jobs etc.