MOBI-CHARG

BUSINESS PLAN
MOBI-CHARG

“Tension free charging for your electric vehicles”

1
MOBI-CHARG

I Executive Summary
Mobi-Charg vision is to provide voltage-free charging for electric vehicles for drivers and
passengers. The company's main goal is to charge electric vehicles better and easier for drivers
and travellers in a sustainable way, to facilitate the production of the charging system through
mobile applications, improve connections between people through better travel and protect
vehicles. provides clean energy for transport.

Mobi-Charg offers faster and easier charging for electric cars with charging on site and
facilitates invoicing. The company also installs several charging stations in designated locations
where drivers can charge for their vehicles via mobile applications, such as Google Pay, internet
banking and more. . The company will use advanced mobile technology that enables customers
to monitor the current location of the mobile charging system near their location and also to
control range. There are currently almost 2,000 petrol stations in the country. Mobi-Charg
focuses on increasing the total number of filling stations by more than 5,000 units over the next
seven years. Management plans to use artificial intelligence and other tools to meet customer
needs, provide an appropriate billing system and manage business activities. Based on current
demand for electric vehicles, the company estimates that it will record sales of approximately $
2.38,000 in its first year and plans to increase sales by more than 50% in the coming years.

Based on the above analysis, Mobi-Charg has better and clearer opportunities to improve
services to consumers, people switch to specific climate change to protect the climate from
change, management should focus on providing high-quality and affordable services, loyal, you
can create customers. In addition, the company may seek to expand into other markets that
can meet the growing needs of consumers.

2023

2022

2021

0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000

Profits Sales

2
MOBI-CHARG

Contents
I Executive Summary...................................................................................................................................2
II Introduction..............................................................................................................................................4
III. General Company Description................................................................................................................4
IV. Products and Services......................................................................................................................7
V. Marketing Plan........................................................................................................................................7
VI. Operational and Resource Plan............................................................................................................14
VII. Management and Organisation...........................................................................................................15
VIII. Personal Financial Statement.............................................................................................................15
IX. Start-up Expenses and Capitalization...................................................................................................15
X. Financial Plan.........................................................................................................................................16
XI. Limitation/ Risk Analysis.......................................................................................................................20
XII. Conclusion...........................................................................................................................................20
References.................................................................................................................................................22

3
MOBI-CHARG

II Introduction
This task is involved in presenting a detailed business plan of a new start-up company, the
assignment is involved in presenting a overview of the products and services offered by the
business, the PEST factors which impacts the business operations, also the task states the
financial projections for the next three years of operations.

III. General Company Description

3.1. Vision Statement

The vision of Mobi-Charg is to provide tension free charging of electric vehicles for drivers and
travellers.

3.1. Mission Statement

The mission of the company is to offer hassle free, easier mode of charging electric vehicles
through reliable technology and ensure proper billings without any hurdles.

3.2. Goals

The main goal of the company is to offer better and easier charging of electric vehicles for the
drivers and travellers in a sustainable manner, enable in easier generation of billing system
through mobile applications, enhance better connectivity among peoples through better travel
and safeguard the environment by offering clean energy for transportation.

3.3. Objectives

The following are the key objectives which the organisation is intended to achieve during the
first three years of operations:

1. To increase the association of drivers and travellers using electric vehicles to nearly 15%
per month
2. To enhance the market share in the country to be nearly 20% per year by offering
innovative and technology oriented electric charging services.
3. To connect with drivers and passengers in different parts of the country through mobile
application network
4. To augment customer expectations by meeting the needs and requirements of the
customers.

4
MOBI-CHARG

3.4. Brief profile of Mobi-Charg

The company is a new start up business which is involved in offering mobile re-charging services
for drivers and travellers who are using electric vehicles in Mumbai city, India. It is noted that
electric vehicles are getting more attention in the country as part of Paris Accord and the
government is encouraging individuals to use electric bikes, cars and other vehicles which can
run on clean energy and thereby support in protecting the environment for next generation.
However, it is noted that the electric re-charging stations are very less in the country and
individuals who are planning for long trip poses fear of not locating re-charging stations for
their vehicle.

Mobi-Charg offers faster and easier re-charging for electric vehicles through on spot re-charging
facilities and generating billings in an easier manner. The company will provide re-charging of
the electric vehicles through getting into the place of the drivers and travellers, also the
company installs various re-charging stations at specified locations where the drivers can re-
charge their vehicles and can pay through mobile applications like Google pay, online banking
transactions etc.

5
MOBI-CHARG

The company allows to have a cordial and enhanced relationship with the drivers and travellers
through mobile applications. This will attract users to install Mobi-Charg mobile app in their
smart phone and can access the services quickly, furthermore the management is focused in
attracting the customers who are using electric vehicles like bike, car etc and who are looking
for proper recharging facilities which offers better value and proper billing. The company will be
registered as a private limited company in India and will be owned by the proprietor.

6
MOBI-CHARG

IV. Products and Services

The product and services offered by Mobi-Charg are stated as follows.

Mobile charging station
1. The customers can order charging station for their
electric bikes, cars and other vehicles through
mobile application and the re-charging unit will be
sent to the desired location.
2. Billings are provided through mobile apps which is
an intelligent billing solution.
3. The prices are calculated based on the number of
units charged
4. A nominal service fees will be charged to move the
re-charging unit to the customers location.

Fixed re=charging 1. Offers re-charging at specified location, the details

station and maps will be available in company website,
mobile app etc.
2. The passenger can re-charge their vehicles manually
and also pay bills through mobile banking or mobile
payment apps like G pay etc.
3. Enhances more visibility of the services offered and
enhances customer satisfaction.
Customer care centre A dedicated mobile support will be available which will
assist the drivers and travellers about the nearest
recharge unit or to make calls for mobile charging station
at the desired locations. The request can be made
through mobile app and the customers can track the
total time taken for recharging the desired recharging
station.
Bonus system for private The company also intends to propose bonus partnerships
filling station for private petrol filling stations like Reliance, Petronus
etc to have fixed recharging unit in their station and this
will enable in servicing more customers at lower cost
Table 1: product and Services

V. Marketing Plan
The company is focused in offering re-charging facilities for electric vehicles (EVs), the drivers
and travellers who are using EVs are more worried in locating the nearest re-charging station
for their vehicles, since the penetration rate of re-charging units are less in the country, many
individuals are avoiding in using the EVs. Mobi-Charg intends to offer best re-charging services

7
MOBI-CHARG

for various EVs and also provide cheapest billing for the services. The company intends to install
the EVs in Maharashtra covering various cities like Mumbai, Pune, Lona Walla etc which will
enable in covering many customers in the country and is considered as the busiest cities in the
country. Moreover, the company intends to expand to other major cities like Delhi, Kolkata,
Bangalore etc.

5.1. Market Overview

The government of India has created a momentum in order to encourage the usage of Hybrid
and electric vehicles and the country and has set up a goal of reaching 30% electric vehicle
usage in the country by 2030. However, the recharging units or stations which aids the usage of
such vehicles is very less. Moreover, individuals who tend to travel for business or pleasure, are
concerned about the non-availability of recharge stations for their vehicles. Hence, Mobi-Charg
intends to offer mobile recharging stations and fixed units to offer best in class re-charging for
EVs and also provide lowest charges for the services. The mobile recharge units can be booked
by the driver or travellers through the smart phone app and the unit will be brought to the
desired location.

This enables in making the services available to the customers at their doorstep, unlike other
gas stations where the customers need to move or drive their car to the station to fill up the
gases, whereas the mobile units enable in going to the customer place and provides re-charging
facilities for their EVs. Also, the company also intends to have fixed re-charge stations so that
the customers can drive in and use the services. All the services can be accessed through
mobile application and intelligent billing system is offered which enable in reducing the hassle
free of computing the value and customers can pay through cash. Debit or credit cards, internet
banking or mobile apps like G Pay etc. Moreover, the government is looking to offer various
incentives for EVs and other related services like tax rebated, exemption on custom duties etc.

8
MOBI-CHARG

5.2. Marketing Strategy

5.2.1. Segmentation

As per the recent report, the Indian electric vehicle market is estimated to be at $1.02 Million
as of 2020 and is expected to grow by more than 12% in the next five years, the recent
pandemic situation has made the sale of various EVs to be at lower level. However, the
government is taking various steps in order to increase the sale and usage of EVs for individual
and commercial purposes. There is an increasing preference towards the consumers in using
EVs for recreational and adventure purposes and it has increased the consumption in the recent
years. India is country with more than 150 million drivers, however the penetrating rate of EVs
is very less. Through the change in consumer mindset and financial support

Based on the data released by KPMG, it is noted that the overall reach of electric vehicles for
personal transport will increase to 15%, however the ride sharing taxi services and bike services
will increase to nearly 20% to 30%. However, by 2030, the overall adaption will increase to 65%,
the government is taking various steps in enhancing the penetrating level of EVs in the market
(Taumar, 2020).

5.2.2. Targeting

It is noted that nearly 40% of the individuals using electric bikes were in the income earning
group between Rs. 20,000 to Rs. 30,000. Also, it is stated that more than 50% of the individuals
are ready to pay nearly Rs. 1,00,000 for the electric vehicles. This shows that EVs are slowly
increasing its presence in the country and individuals are using it for self and for business
purposes. The current middle income group population in India is 120 million and they are
expected to grow by more than 140 million by 2025. (Statista, 2020). Mobi-Charg is focusing in
targeting the middle-income group who are looking to purchase EVs and are also focusing in
identifying better re-charging stations when compared with other service stations.

5.2.3. Positioning

The majority of the consumers which are comprising of 34% has stated that the company which
sells the EVs tend to set up the network for charging stations, however in the current context it
is highly difficult for each company to set up the necessary service station, hence Mobi-Charg
tends to offer better re-charging solutions either through mobile units or fixed stations which
can enable the individuals to recharge their EVs at their convenient time and locations. (ET
Auto, 2020). The company will position itself as a reliable, customer friendly and quick service

9
MOBI-CHARG

recharging solutions for all EVs, also the company will provide best billing solutions which the
payment can be made in different modes enabling easier access to services.

5.3. Macro-environment Analysis

5.3.1. Political and Legal Analysis

The government is focusing in introducing more EVs in the market so as to keep up with the
climate accord. The ambitious target of 30% penetration of EVs by 2030 is set by the
government and to achieve the target, the government has introduced National Electric
mobility mission plan in 2020. Its aim is to enhance the production and sale of EVs in the
country and also offer financial assistance, tax rebates to the customers who purchases the
products. Also, FAME (Faster adoption and manufacturing of EVs) were introduced with an
outlay of nearly 795 crore for the next two years. (Drishti, 2020)

5.3.2. Economic Analysis

The GDP growth of the country is estimated to grow at 8% in 2021 and 7.9% in 2022, the
current pandemic situation has impacted the nations economy in 2020, the average per capita
income is expected to increase by 6.8% to reach nearly Rs. 11,200 in 2021. Also, the
government is taking adequate steps in reducing the unemployment rate, from 24% in April
2020 due to Covid 19 to nearly 8% in 2021. These initiatives enable the economy to be on track
and active sustainable growth and development. (Trading Economics, 2020). The FAME 2

10
MOBI-CHARG

scheme is intended to spend more than Rs 8,000 crore in order to offer various incentives for
purchase of EVs. (Ghosh, 2019)

These aspects provide more opportunity to the company in offering the re-charging services to
the customers who are using the EVs, moreover the recharging stations are very less in the
country which offers more potential in increasing the visibility of the company and deliver
better services.

5.3.3. Social Analysis

With the continuous increase in fuel prices and issues related to climate changes, many
individuals are looking for alternative electric vehicles for transportation. The cost of electric
bike in India is in the range of Rs. 40,000 to Rs. 1,00,000 (). Which is considered as an affordable
price and individuals can possess the products, similarly the cost of electric cars ranges from Rs.
16,00,000 to more than Rs. 1,00,00,000 for high end range.

With the disposable income increasing among the individuals, there is an awareness in the
minds of the consumers to procure electric vehicles for transportation. This will result in
increasing the opportunity for Mobi-Charg which involves in providing re-charging facilities for
the EVs as the recharge stations are in short supply in the country. The innovative technology
and easier access for the consumers will enable the company to enhance its presence in the
country and also support the use of EVs by many individuals.

5.3.4. Technological Analysis

The company will be using advanced mobile technology which will enable the customers to
track the current location of mobile recharging system near their location and also can check
the time taken to reach them. There are nearly 2000 electric recharging stations currently
available in the country. Mobi-Charg is focused in increasing the total recharging stations by
more than 5,000 units in the next 7 years. The management intends to apply artificial
intelligence and other tools in order to address the needs of the customers, provide proper
billing system and manage the business activities (Sharma, 2020).

5.4. Market Competition

The company may face completion from the existing suppliers of electric recharging for EVs

Name of the service Facilities offered

provider
Tata Power Fixed recharging booths
Online support

11
MOBI-CHARG

Offered in 9 states and has nearly 300

charging stations
Delta Electronics DC and AC EV charger
Fixed charging stations
Energy Efficiency 300 charging units
Services Limited Located in 10 states
Planning to expand to 2,000 charging
stations in the next 2 years
PowerGrid Government owned enterprises
Present in more than 12 stations
Nearly 433 recharging stations are
located across the country
Table 2: Market Competition

5.5. Promotion

The company is a new start-up ad is looking to apply the traditional and social marketing tools
for advertising. The company will be providing awareness to the public about the use of EVs in
print ads, social media sites and also place billboards etc. The company is focusing to
effectively utilise the various options which are available in order to enhance the product
offerings and engage the customers so that best services can be offered.

The company also encourages the customers to share their voices about the services and use
them as the tool to attract more customers, social forums will be created and voice of
customers with ratings can be presented which will enable in reaching more target users. Th
company will have a dedicated marketing department which will monitor the various strategies
implemented in enhancing the product offerings to the customers, gather their thoughts and
feedback and frame strategies in order to achieve sustainable growth and development.

5.6. Promotional Budget

The company is intended to use the promotional budget of nearly Rs. 5,000 which will be used
at the initial stat up cost, also Rs. 20,000 will be spent on a yearly basis for advertising in
traditional and social media.

5.7. Pricing

The cost of electricity for charging the EVs is estimated to be Rs. 8 to Rs. 10 per unit, the
electric bikes require around 3.5 units for full charge which can run around 150 KM, whereas
the cost of 1 litre of petrol in the country is nearly Rs. 90. Hence, consumers prefer to EVs
rather than using the traditional fuel operated vehicles.

5.8. Proposed Location

12
MOBI-CHARG

In operating the business, the company will set up the charging stations in parts of Mumbai city
and will expand to other places like Pune, Lona Walla etc.

5.9. Sales Forecast

Based on the current demand for electric vehicles, the company is estimating to register sales
of around Rs 2,38,000 in the first year of operation and intends to increase the sales by more
than 50% in the coming years.

13
MOBI-CHARG

VI. Operational and Resource Plan

6.1. Operation

The company intends to procure the mobile recharging and fixed station units from the
registered suppliers like Charzer and Fortum India. The company also look to enhance the
technology for their mobile platform, the management will have recruit employees from
information technology to support the online request access and modernise billing systems. All
the transactions will be recorded and billed to the customers in a correct manner.

6.2. Location

The company intends to open its office in Mumbai city at an average rent of 5,000 per month,
the company tend to operate with smaller office space as the main business is intended to offer
recharging facilities to EVs also offer the services throng mobile network, therefore the office
premises can be set up in Mumbai city and the re-charging stations ca be located in other areas
covering Mumbai, Pune and Lona Walla.

6.3. Personnel

The company intends to have the proprietor who manages the overall operations and financial
aspects of the business, the company also recruits additional individuals who monitor various
activities of the business, the following is the salary structure of the employees in the
organisation for the next three years

No. of
Role persons 2021 2022 2023
Marketing 1 10,000 12,000 14,000
Operations and
Administration 2 12,000 14,000 16,000
Drivers - Mobile units 3 21,000 24,000 27,000
Support staff 1 4,000 4,500 5,000
Human resources 1 10,000 12,000 14,000
Total   57,000 66,500 76,000

6.4. Inventory

The company intends to 3 mobile charging units with a dedicated truck, this is estimated to cost
around Rs. 30,000. The management also installs fixed charging stations which is estimated to
be Rs. 5,000 per unit, Mobi-Charg will currently have 4 units in the first year of operations. The
customers can book the mobile charging services in advance and will get the estimated time to

14
MOBI-CHARG

reach to their destinations, based on the distance of travel. The customers can also recharge
their EVs by visiting the nearest refilling stations and use the fixed line for recharging their
vehicles. The company is expecting to increase the number of units in the coming years based
on the customer needs and preferences.

6.5. Suppliers

The major supplier of the electricity is from the state-run Maharashtra State Electricity
Distribution Company Limited, the supplier charges nearly Rs. 7 per unit to the Mobi-Charg
whereas Mobi-Charg intends to charge Rs. 30 per unit to the customers by offering additional
services.

VII. Management and Organisation

The company is mainly owned by the Proprietor Sreeram, who has completed the management
degree from a reputed university. The proprietor possesses strong knowledge in finance and
business management and will use his experience in managing the overall operations of the
business, he also gets support from the family members on advice and financial support.

VIII. Personal Financial Statement

The proprietor is a single and is living with his parents, the owner currently has savings of Rs.
50,000 and intends to take interest loan from his parents of nearly Rs. 75,000, this will be used
as main capital to will start the business. Also, the owner has already possessed 3 mobile
recharging units which has been procured already for his personal use.

IX. Start-up Expenses and Capitalization

The following is the estimated start-up cost of the business

Funding - Start up Amount

Start up cash related 75000
Assets 50000
Total 125000
Start-up expenses  
Sales and Marketing 5000
Legal fees 1000
Mobile app 1500
Payroll 24500
Rent 5000

15
MOBI-CHARG

Utilities 2000
Office furniture 1000
Chairs and Tables 2000
Stationery etc. 2000
Laptops and others 20000
Working capital 11000
Total Start-up expenses 75000
   
Assets  
Mobile recharging units 30000
Fixed charging station 20000
Additional cash raised 0
Other current assets 0
Total Assets 50000
Total Requirements 125000

X. Financial Plan
10.1. Profit and Loss Projection

The following states the profit and loss projection for the first three months of operations, the
detailed yearly profit and loss projections is stated in the appendix section. The management
assumes that the economy will be growing steadily post covid situation and there will not be ay
major recession facing the economy, Furthermore, the government will be focusing to
encourage the purchase of EVs and consumers preferences towards EV is increasing.

Particulars Jan-21 Feb-21 Mar-21

Sales 15,000 15,750 16,538
Total Cost of Sales -3,500 -3,675 -3,859
Gross Margin 11,500 12,075 12,679
Gross Margin % 76.67% 76.67% 76.67%
Sales and Marketing Expenses
Sales and Marketing Payroll 417 417 417
Advertising/Promotion 1,000 1,000 1,000
Trade Shows/Events 700 700 700
Total Sales and Marketing Expenses 2,117 2,117 2,117
General and Administrative Expenses
Payroll 1,625 1,625 1,625
Rent 417 417 417
Utilities 167 167 167

16
MOBI-CHARG

Depreciation at 10% 417 417 417

Total General and Administrative
Expenses 2,625 2,625 2,625
Total operating Expenses 4,742 4,742 4,742
Earnings Before Interest and Taxes 6,758 7,333 7,937
Profit/Loss Before Tax 6,758 7,333 7,937
Tax at 30% -2,028 -2,200 -2,381
Net Profit 4,731 5,133 5,556
Net Profit Margin 31.54% 32.59% 33.60%
Owners' Equity Projection
Capital 0 4,731 9,864
Net Profit 4,731 5,133 5,556
Owner's withdrawal 0 0 0
Monthly Capital Increases 4,731 9,864 15,420

10.2. Sales Collection

The management will collect the cash from the customers through bank transfers or mobile
payment systems while using the fixed statins, in case of mobile recharging the payments can
be made in cash which are collected through drivers. The management will perform detailed
reconciliation on a daily basis based on the billings generated for each customer and match
them in the cash received. The money will be retained in the company accounts which will be
used for further investments and meeting of other expenses.

10.3. Projected Cash Flow

Cash Flow Forecast 2021 2022 2023

1,25,00 2,13,30
Opening balance - capital 0 3 6,11,375
1,83,04 3,28,72
Sales 7 6 5,90,345
3,08,04 5,42,02 12,01,72
Total Cash Inflow 7 9 0
Cash Expenses
Sales and Marketing
Expenses 25,400 27,420 29,491
General and
Administrative 31,500 37,350 43,218
Tax 37,844 79,187 1,46,444

17
MOBI-CHARG

1,43,95
Total Cash Outflow 94,744 7 2,19,152
2,13,30 3,98,07
Monthly Net Cash Flow 3 2 9,82,568
2,13,30 6,11,37 15,93,94
Cumulative 3 5 3

18
MOBI-CHARG

10.4. Balance Sheet

Balance Sheet 2021 2022 2023

Current Assets
1,68,30 5,10,00
Cash on hand 3 3,53,072 5
1,68,30 5,10,00
Total Current Assets 3 3,53,072 5
Non-Current Assets
Fixed Assets 50000 50000 50000
Less Depreciation -5,000 -5000 -5000
Total non-current assets 45,000 45,000 45,000
2,13,30 5,55,00
Total Assets 3 3,98,072 5
Current Liabilities
Capital 125000 125000 125000
Total Liabilities 125000 125000 125000
Stockholders' equity
4,30,00
Retained Profit for year 88,303 2,73,072 5
Share Capital
4,30,00
Total Stockholders' equity 88,303 2,73,072 5
2,13,30 5,55,00
Total Liabilities and Equity 3 3,98,072 5

10.5. Break-Even Analysis

Computation of breakeven analysis – Monthly values

Particulars Value
Average Selling price per
unit 30
Variable cost per unit 7
Contribution cost per unit 23
Fixed cost per month 4,742

Breakeven point

Profit Volume ratio = Contribution / SP x 100

= 76.67%

19
MOBI-CHARG

Break Even Point in Sales = Fixed Cost / PV ratio

= 6,184.78

in Units = Fixed Cost / Contribution per unit

= 206 Units

XI. Limitation/ Risk Analysis

1. Operational risk. One of the key constraints for the business is the availability of power and
delivering the services to the customers, the company mainly focuses in accepting the orders
through mobile network, hence the risk of mobile network down or other issues will impact the
business sustainability. Furthermore, the company gets the electricity for their charging stations
at cost effective rate, if the prices are increased then the company may face challenges in
delivering better services to the customers.

2. Legal Risk. The company is a legitimate business registered under the company act; however,
the government is also contemplating in installing more EVs around the country and if the
government intends to pass orders for private companies to not deliver electric recharging in
the nations, then the business faces higher legal risk to discontinue its operations.

3. Technological Risk. Technology considered as the vital aspect for the organisation as the
business operations are performed through technology, the company possess dedicated in-
house technology team which work in upgrading the mobile application so that the users can
enhance their experience and also avail various services.

4. Reputational risk. The next critical risk is the availability of drivers and delivering the mobile
charging stations to the customer doorstep, if the services are not delivered on time due to
shortage of recharging units, the company may lose its reputation and the loyalty of the
consumers. Hence adequate recharging units need to be procured and kept available for
meeting the needs of the customers.

XII. Conclusion
Based on the above analysis, it can be stated that the Mobi-Charg possess better and brighter
opportunity in enhancing the service offering to the consumers, the world is now moving into
dedicated EVs in order to protect the climate change, the management need to focus in

20
MOBI-CHARG

delivering high quality services at affordable cost which can generate loyal customers.
Furthermore, the company can look to expand in other markets which can meet the growing
needs of the consumers.

21
MOBI-CHARG

References
Drishti. (2020). Electric Vehicle Development In India. Rerieved from:
https://www.drishtiias.com/daily-updates/daily-news-editorials/electric-vehicle-development-
in-india

ET Auto. (2020). 53% Indians ready to pay upto Rs 1 lac more for EV: Report. Retrieved from:
https://auto.economictimes.indiatimes.com/news/industry/53-indians-ready-to-pay-upto-rs-1-
lac-more-for-ev-report/73438236

Ghosh, Malyaban. (2019). FAME 2 will offer incentives to manufacturers, who invest in
developing electric vehicles and its components. Retrievd from:
https://www.livemint.com/auto-news/how-fame-2-scheme-aims-to-promote-the-use-of-
electric-vehicles-in-india-1552352972259.html

Gujarathi, Pritam K. (2018). Electric Vehicles in India: Market Analysis with Consumer
Perspective, Policies and Issues. Retriebed from:
https://www.riverpublishers.com/journal_read_html_article.php?j=JGE/8/1/3#fig2

Kotoky, Anurag. (2019). Out of 150 million drivers, only 8,000 want electric cars in India .
Retruved from: https://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/
india-has-150-million-drivers-only-8000-of-them-want-electric-cars/71464382#:~:text=The
%20potential%20of%20India's%20EV,of%20Japan's%20Suzuki%20Motor%20Corp.

Mordor Intelligence. (2020). India E-Bike Market - Growth, Trends, Covid-19 Impact, And
Forecasts (2021 - 2026). Retrived from:
https://www.mordorintelligence.com/industry-reports/india-e-bike-market

NITI Aayog. (2018). Zero emission vehicles (zevs): towards a policy framework. NITI Aayog

Sharma, Shalini. (2020). India has so far installed 933 EV charging stations across the country:
CEA. Retreieved from: https://psuwatch.com/india-installed-ev-charging-stations-933-cea

Statista. (2020). Households by annual income brackets India 2010-2025. Retrieve from:
https://www.statista.com/statistics/482584/india-households-by-annual-income/

Taumar, Deepanshu. (2020). Only 10-15% penetration of electric cars is expected by 2030 in
India: Report. Retrieved from: https://auto.economictimes.indiatimes.com/news/passenger-
vehicle/cars/only-10-15-penetration-of-electric-cars-is-expected-by-2030-in-india-report/
79039710#:~:text=NEW%20DELHI%3A%20The%20light%20mobility,be%20only
%2010%25%2D15%25.

22
MOBI-CHARG

Trading Economics. (2020). India Unemployment Rate2018-2021. Retrieved from:

https://tradingeconomics.com/india/unemployment-rate

23
MOBI-CHARG

Appendices
Appendix 1

24
MOBI-CHARG

Appendix 2

25
MOBI-CHARG

26
MOBI-CHARG

Appendix 4

Financial Plan

27
MOBI-CHARG

28
MOBI-CHARG

29
MOBI-CHARG

30