MBA Project - Himanshu Bhagat

A
PROJECT REPORT
ON
“OPPORTUNITY TO INNOVATION – TATA MOTORS EV MARKET”
SUBMITTED
To
CENTRE FOR ONLINE LEARNING
Dr. D. Y. PATIL VIDYAPEETH, PUNE
IN PARTIAL FULFILMENT OF DEGREE OF
MASTER OF BUSINESS ADMISTRATION
BY
HIMANSHU BHAGAT
PRN: 2105022147
BATCH 2021-2023
1
Dr. D.Y. Patil Vidyapeeth’s
CENTRE FOR ONLINE LEARNING,
Sant Tukaram Nagar, Pune.
CERTIFICATE
This is to certify that Mr./Ms. HIMANSHU BHAGAT
PRN - 2105022147
His / Her project work was a part of the MBA (ONLINE LEARNING)
The project is on study on OPPORTUNITY TO INNOVATION – TATA MOTORS EV

MARKET
Which includes research as well as industry practices. He/ She was very sincere and committed
in all tasks.
Course Coordinator Director
_________________ ___________________
Date -
2
COMPANY LETTER
(TO BE PROVIDED BY THE COMPANY WHERE THE PROJECT WILL BE

CARRIED OUT)
To whomsoever it may concern
This is to certify that Mr./Ms. HIMANSHU BHAGAT
PRN - 2105022147
has completed his/her internship at
starting from 2021 to 2023.
His / Her project work was a part of the MBA (ONLINE LEARNING)
The project is on OPPORTUNITY TO INNOVATION – TATA MOTORS EV MARKET
Which includes research as well as industry practices. He/ She was very sincere and committed
in all tasks.
Signature & Seal of Industry Guide
3
DECLARATION BY LEARNER
This is to declare that I have carried out this project work myself in part fulfillment of the
M.B.A Program of Centre for Online Learning of Dr. D.Y. Patil Vidyapeeth’s, Pune – 411018
The work is original, has not been copied from anywhere else, and has not been submitted to
any other University / Institute for an award of any degree / diploma.
Date: - Signature: -
Place: Name: HIMANSHU BHAGAT
4
ACKNOWLEDGEMENT
The satisfaction and euphoria that accompany the successful completion of any task would
be incomplete without the mention of people, who are responsible for the completion of the
Dissertation paper work and who made it possible, because success is the outcome of hard
work and perseverance, but steadfast of all is encouraging guidance. So with gratitude, I
acknowledge all those whose guidance and encouragement served me to motivate towards
the success of the Seminar work.
I take great pleasure in expressing my sincere thanks to Dr. D.Y. PATIL VIDYAPEETH
for providing an excellent academic environment in the college and for his continuous
motivation and his invaluable guidance and encouragement and for providing good facilities
to carry out this Seminar work.
This project work is written in accordance with the Online M.B.A Program of two years at
the Dr DY PATIL VIDYAPEETH, PUNE 411018. With all sincerity, I would like to express
my gratitude to Prof. Ganesh Datere who is my Project Guide who have been instrumental
in helping me make my project successfully.
I would like to express my deep gratitude to my project guide and my mentor without whose
guidance this project would not have been made the way that it has been made.
HIMANSHU BHAGAT
PRN: - 2105022147
5
Table of content
Sr. Item Page No
No.
1 Executive Summary 8
2 Chapter 1: Introduction (Company Profile & 9-19
General Introduction of Topic)
& Objective, Scope and Purpose of Study
3 Chapter 2: Literature Review 20-31
4 Chapter 3: Research methodology 32-34
5 Chapter 4: Data Analysis 35-51
6 Chapter 5: Findings, suggestions, 52-55
recommendation
7 Chapter 6: Conclusion 56-59
8 Bibliography (Books, Journals, research 60-63
work)
9 Reference (Website, company paper) 60-63
10 Annexure (A to C) 64-68
6
11 A- Questionnaire 64-67
12 B- Scope for future study 68
13 C- Photograph, Drawings
7
EXECUTIVE SUMMARY
In this project, I conducted descriptive research on the automobile industry's research and
benchmarking, followed by research on the EV industry around the world and in India, the
industry's drivers, challenges, restraints, major market players, government initiatives, and the
industry's future. In this descriptive study, none of the variables were influenced in any way.
Only research observations were made. As a result, I have no control over the nature or
behavior of the variables. Following that, I conducted an EV industry survey among people
aged 20 to 49 years old using a questionnaire (attached as an annexure). All of the respondents
were middle- or upper-middle-class working professionals. And attempted to analyze the
respondents' responses regarding their perception of EV and willingness to buy an EV in the
future. As a result, I've worked hard to identify the challenges that may arise in the growth of
EV in India such as lack of charging infrastructure, operational change that an automobile
company has to make in their manufacturing to develop EV, high cost of capital, etc. As a
result, it can serve as a guide for both current and emerging players in the EV industry.
At present, there are not many EVs available. Major mainstream offerings include the popular
Tata Nexon EV, MG ZS EV, and the Hyundai Kona electric. Tata EV Motors has emerged as
a prominent player in the Indian EV market. This executive summary provides an overview of
Tata EV Motors, its key strengths, product offerings, market presence, and future prospects.
A delayed start within the Electric Vehicle (EV) selection in India since the last recent two
years has shown a surprising increment is an opportunity for Tata EV motors to capture the
market at more rapid pace. lithium-ion batteries which are the heart of electric vehicles,
charging points are the next important thing.
EV manufacturing companies are spending tonnes of capital and energy on charging station
infrastructure. The first name which comes to your mind when I talk about charging stations
is Tata Power. India’s largest integrated power company, Tata Power is aggressively
expanding its electric vehicle charging network, which also gives an upper hand to Tata
motors in expansion of their cars and other vehicle categories.
The results revealed a variety of research approaches that have been used to investigate find
the different factors which persuade consumers while purchasing an electric vehicle. The
reported approaches include factor analysis through principal component analysis from the
survey, graphical representations and providing suggestions as per our findings from the
analysis.
8
Chapter 1
INTRODUCTION
1.1 Background
Over the years, the exploitation and pollution of natural resources have created the need for
renewable and environment-friendly products. One such product is electric vehicles which are
a replacement for petroleum-based vehicles. The migration to EV is essential for an Indian
automotive industry to retain its foothold and gain additional ground towards the axis of the
electric vehicle. While the market for electric vehicles is at an early stage of development, it is
ready to reshape enterprises and networks everywhere throughout the world.
EVs first appeared in the mid-nineteenth century, when electricity was one of the preferred
methods of motor vehicle propulsion, providing a level of comfort and ease of operation that
gasoline cars of the time could not match. For about a century, internal combustion engines
were the dominant propulsion method for cars and trucks, but electric power remained common
in other vehicle types, such as trains and smaller vehicles of all types.
EVs have seen a resurgence in the twenty-first century as a result of technological

advancements and a greater emphasis on renewable energy and the potential reduction of
transportation's impact on climate change, air pollution, and other environmental issues.
Electric vehicles are listed as one of the 100 best modern solutions to climate change by Project
Drawdown.
The global electric car fleet has seen a surge of 5.1 million, up from 2 million and the sales of
the new electric car is nearly doubling in number. The People’s Republic of China is currently
holding the position of the world’s largest electric car market and is closely followed by Europe
and the United States of America. Factors such as generous subsidies and tight regulations are
driving factors for the increasing sales. Also, the exemption from license-plate lotteries and
auctions in some Chinese cities are playing an instrumental role in promoting EVs.
Government incentives to encourage adoption were first implemented in the late 2000s,
including in the United States and the European Union, resulting in a growing market for the
vehicles in the 2010s. Increasing public interest and awareness, as well as structural incentives,
such as those built into the green recovery from the COVID-19 pandemic, are expected to
significantly boost the electric vehicle market. Lockdowns have reduced the amount of
greenhouse gases emitted by gasoline or diesel vehicles during the COVID-19 pandemic. In
2021, the International Energy Agency stated that governments should do 10 more to meet
climate targets, including policies for heavy electric vehicles. Electric vehicle sales could rise
from 2% of global sales in 2016 to 30% by 2030. Much of this growth is expected in markets
such as North America, Europe, and China; according to a 2020 literature review, growth in
the use of electric 4-wheeled vehicles appears economically unlikely in developing economies,
but growth in electric 2-wheeled vehicles is likely. There are more two-wheel and three-wheel
EVs than any other type.
9
One of the Scandinavian countries, India is the worldwide pioneer for the present electric car
market share. Approaches are crucial to guarantee that electric versatility has positive effects
for adaptability in power frameworks.
1.2 Research and benchmarking of electric vehicle industry in India
In India, the electric vehicle industry is in its infancy. It accounts for less than 1% of total
vehicle sales but has the potential to grow to more than 5% in a few years. On Indian roads
today, there are over 5 lac electric two-wheelers and a few thousand electric cars. Volumes in
the industry have been fluctuating, owing primarily to government incentives. Many serious
players (Hero Eco, Ather, Electrotherm, Avon, Lohia, Ampere, and others) are continuing the
mission and attempting to impose positive change under the banner of SMEV.
Over 90% of electric vehicles on Indian roads are low-speed electric scooters (less than
25km/hr) that do not require registration or licenses. To keep prices low, almost all electric
scooters use lead batteries; however, battery failures and battery life have become major
limiting factors for sales, in addition to government subsidies. Many manufacturers have
attempted, but with limited success, to install charging stations. Electric three-wheelers have
been developed by companies such as Lohia and Electrotherm. Ampere and Hero have both
entered the Electric Cycles market. There are numerous E-Rickshaw players springing up
across the country, selling a large number of E-Rickshaws for last-mile connectivity.
EVs sees a huge opportunity in terms of lowering the carbon footprint, reducing reliance on
crude oil imports, creating jobs, and establishing a new technology knowledge hub in India.
10
According to Autopunditz, electric 2-Wheelers add up to 97% of electric vehicle deals in
Indian market (Team Auto Punditz, 2020). Electric Vehicle (EV) is in extremely incipient
phase in Indian marketplace, also the public authority is gradually centering toward
upgrading the Electric Vehicle infiltration in the subcontinent (Team Auto Punditz, 2020).
We featured how the Indian government has revised the GST on Electric Vehicles from 12%
to 5% in 2019 (Team Auto Punditz, 2020). However; because of the absence of sufficient 13
electric foundation, the Electric Vehicle (EV) deals have not been noteworthy (Team Auto
Punditz, 2020). Around 1.74 cr units of 2 Wheelers (gas-fueled) were marketed in India for
Fiscal Year (FY) 2019-20 (Team Auto Punditz, 2020). However, just 1.52 Lakhs units of
Electric 2 Wheelers were sold at a similar moment (K. Dudenhöffer, R. Arora, A. Diverrez, A.
Ensslen, P. Jochem, 2014). We trust the boost from the public authority and additionally leap
forward in fuel-cell innovation will help out bring down the expenses of Electric Vehicles
(EVs) even further and hence increment its volumes (Team Auto Punditz, 2020).
The Electric Cars Sales really tumbled somewhere around 6%. Just 3,400 Electric Passenger
vehicles were sold in the Fiscal Year (FY) 20 v/s 3,600 units in the Fiscal Year (FY) 19 (Team
Auto Punditz, 2020). Electric Buses saw a decent leap of 50% Year on Year (YoY) and sold
around 600 units in last year. This was additionally because of the push from the government
to increase electric transports in their fleet (Team Auto Punditz, 2020).
1.3 Drivers for Growth of Electric Vehicles in India

Policy Objectives
Master plans for most urban communities in India target 60-80 per cent public vehicle ridership
by 2025-2030 (Center for Science and Environment).
Market size
India is the second biggest bike market (80 million in the year 2010) in the world following
China (k-learn.adb.org) and two-wheelers continue the lead choice for most of the population
in 2035 (k-learn.adb.org, UNEP, DTU, and IIM-A).
11
Ecological
13 out of 20 urban communities on this planet along with the most noteworthy air-
contamination are from India. Low level of carbon situation along with 'most elevated'
Electric Vehicle (EV) infiltration shows a 50% drop in Particulate Matter 2.5 by 2035 (k-
learn.adb.org, UNEP, DTU, and IIM-A).
Partnered Openings
As the Indian Government is focusing on 100 Giga Watt of solar power by 2022, electric
vehicles (EV) can enhance dependability as well as usage of inexhaustible sources acting as
storage capacity (k-learn.adb.org).
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1.4 Company Profile
Tata group was founded in 1868 by Jamshedji Tata. Tata motors group formerly known as
TELCO is a USD 45 billion organization founded in 1945, headquartered in Mumbai and is
India’s largest OEMs which offers a substantial range of smart, integrated and e-mobility
solutions. The diverse portfolio of Tata Motor limited includes a boundless range of cars, buses,
trucks, defence vehicles and sports utility vehicles. The tagline “Connecting Aspirations”
means offering innovative mobility solutions which is completely in line with the aspirations
of the customers.
The mission of the company is to passionately anticipate and provide the optimum vehicles
and experiences which excite the global customers. The organization continues beginning to
stand out in shaping the Indian business vehicle scene, with the introduction of driving edge
powertrains and electric arrangement plans packaged for power exhibitions and customer
comfort at the most insignificant life-cycle costs.
The six key mobility drivers which are going to lead the company in the future are complexity
reduction in manufacturing, modular architecture, clean drivelines, connected & autonomous
vehicles, low total cost of ownership and shared mobility. Tata Motors provides mobility
solutions to more than 175 countries globally and has a robust worldwide network of 134
subsidiaries, joint ventures, and associate companies which includes the Jaguar Land Rover
(JLR) in the UK and the Tata Daewoo in South Korea.
Fig: Secondary source
13
Tata motor limited (TML) possess the pioneer position in India’s commercial vehicle market
with a market percentage share of 45.1% in FY 2018-19 and has significantly captured
market share in the Intermediate Light Commercial Vehicle (ILCV), Medium and Heavy
Commercial Vehicle (MHCV), and Small Commercial Vehicle (SCV) segments. It is the
primary organization in the designing division from India’s engineering sector to be listed in
the New York Stock Exchange (NYSE) and furthermore have developed as a global
automobile company. Till date, TML is the 17th largest motor vehicle production company in
the world, 2nd biggest bus manufacturer and 4th biggest truck producer. With a push towards
the adoption of electric vehicles in India the company launched the new Tata Nexon EV in
SUV range with 3 variants.
14
1.5 Tata Motors has recently entered the EV market in passenger vehicles
and Electric buses
In India, Tata Motors has an industrial joint venture with Fiat. Engaged in engineering and
automotive solutions, with a focus on future-readiness and a pipeline of tech enabled products,
Tata Motors is India’s market leader in commercial vehicles and among the top in passenger
vehicles with 9 million vehicles on Indian roads. The company’s innovation efforts are focused
on developing auto technologies that are sustainable as well as suited. With design and R&D
centres located in India, the UK, Italy and Korea.
Tata Motors in collaboration with its subsidiary, the UK based Tata Motors European
Technical Centre (TMETC), are looking to have a major play in the EVs market in India. It
plans to address both the Passenger Vehicles and Electric Buses market in India.
Electric buses
• It has already launched electric buses in the state of Himachal Pradesh
• Plans to deliver 25 hybrid buses to MMRDA in Mumbai
•100 Buses tender floated for Pune city, 6 buses for BEST, in Mumbai and 6 Buses for
Himachal Road Transportation
• Company in talks with Chandigarh Government to start a pilot project for Smart City
• Expect demand from State Transport Unions alone to be around 400,000 Electric buses in the
long run.
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Passenger vehicles
Tata Motors launched their EV Passenger cars business by winning a major tender of 10,000
cars launched by EESL. They have launched a car – Tigor EV and have recently delivered their
first set of cars to EESL from their Saanand Plant in Gujarat. The Tigor Electric will be able to
do about 120-150 kilometers on a full battery charge.
The Tigor EV for EESL order will be delivered in three trim variants – Base, Premium and
High and will be available in ‘Pearlescent White’ colour with blue decals. Over the basic
requirements of the tender, the Tigor EV, across the variants, would have FATC (Fully
Automatic AC) to provide maximum comfort to its occupants. Equipped with a single speed,
automatic transmission, the Tigor EV will also allow the customers to enjoy the driving
experience, maximized efficiency and seamless acceleration. The electric drive systems for the
Tigor EV is developed and supplied by Electra EV – a company established to develop and
supply electric drive systems for the automotive sector.
Tata Motors will commercially launch many electric cars in India. The automaker has already
showcased an electric variant of the Tiago and has been testing the Nano Electric quite
extensively. With the Tigor Electric already in production, Tata already has about 3 options to
pick from. The Nano EV could be the first electric car that the automaker launches in India,
followed by the Tigor and Tiago electric vehicles. Electric car charging infrastructure is at its
infancy in India, and the government is fast stepping up its efforts to roll out charging stations.
Tata Motors is setting up 400 charging stations in Delhi alone and has plans for more cities.
They plan to develop their own vendor for chargers as well.
16
1.6 Overall Industry Structure in India
EV Chargers
Existing suppliers
• 15 firms currently supplying EV Chargers in India

• Only 3 firms in 4W, AC Chargers so far in India
• 4 Wheelers – AC Chargers - RRT Electro Power, Chennai; Mass Tech Controls,
Mumbai; Exicom, New Delhi
• These are mostly Power Electronics & Battery Charger manufacturers who have
diversified into EV Chargers
• 10-12 firms in small 2W AC Chargers who supply along with their vehicles and a few
OEMs for EV Chargers
Global EV Charger firms
• 5-6 key global firms eyeing the EV Chargers market closely

• Firms like ABB India, Delta India, Schneider India, Siemens India etc are looking at
the Indian market closely
• These firms have their global designs and products and are studying the technical
/specifications, business models and potential for their products
• All these firms are only looking at the 4 Wheelers' (Cars) EV Chargers
Likely Indian firms in EV chargers
• Huge interest in the Indian market for manufacturing EV Chargers

• Most Large & MSME firms in power electronics & battery rectifiers are looking at this
market very closely
• Some names we could confirm, who have evinced interest in EV Chargers
manufacturing are Raychem RPG India, Analogic India, Deltron, EOS Power,
AdorPowertron, Kraft Power Con, Elind etc
• Most of these firms are currently getting their designs and products in place
17
1.6 Overview of Key players
18
1.8 Objectives of the Study
• How the company used marketing tools like SWOT analysis, marketing mix and STP
analysis for the products it was launching.
• To understand if TATA Motors will be able to continue its successful run in the electric
Vehicle category.
• To study the present expectations of the consumers regarding the electric vehicles
• To study and understand about the EV industry in India
• Studying about the drivers, restrain, opportunity and challenges faced by the EV
industry
• To study about the government initiative penetrating EV industry
1.9 Scope and purpose of Study

With the headway in innovation and reform in present times, there is a tremendous boost of
innovation in the global auto industry. The auto industry is presently transferring further on
innovation and the greatest advancement is the initiation of electric vehicles (EV). Indian firms
are concentrating on the development and growth of electric vehicle. The electric vehicle
industry of India is in its nascent stage. Additionally, in this cut-throat era, there is incredible
tension on these organizations to expand potency & adequacy. Consequently, by conducting
this study, we will want to impart our findings to businesses which will help them
understanding customer Perception which would additionally help them in designing their
marketing strategies, promotion, and sales.
In this project I have covered about the EV industry around the world and about the EV industry
in India, emerging markets players, drivers, restrain, opportunity and challenges. I conducted
an EV industry survey among people aged 20 to 49 years old using a questionnaire (attached
as an annexure). All of the respondents were middle- or upper-middle-class working
professionals.
19
Chapter 2
Literature Overview
A benchmarking approach is a practical method for achieving continuous quality and
performance improvements (Dattakumar & Jagadeesh, 2003). Benchmarking in car services
allows the company to constantly monitor and assess its performance for operating
techniques in comparison to other best-in-class industries. Because achieving customer
satisfaction is the primary goal of service industries, the AHP should be derived from the
customer's perspective, and thus the benchmarking process can be customer-oriented.
However, for continuous improvement, top management should choose the improvement
actions and relative weights because they are the decision makers. The process is critical for
continuous improvement in an industry's service and expense levels, with some of the
benefits of benchmarking for Car Service industries including:
• Improvement in the service provider's market position

• Improvement in the level of customer satisfaction
• Identify information that will improve throughput and lower expenses
• Improvement in information flow between all departments
• Improvement in customer service and quality control
• Reduced overall expenses
• Improvement in team spirit and morale
On the basis of the structural model for CSFs, a benchmarking model is developed, which is a
useful tool for improving performance to a feasible level in a short period of time with
minimal effort and resources. The proposed structural framework and benchmarking model
for Indian automobile car Service Company "A" findings will serve as a guideline for
successful market adoption. The proposed benchmarking model can be applied to various
service or other environments, capturing their unique environment and reflecting their own
precedence considerations. The proposed benchmarking model for an Indian car service
company is depicted in the flow chart below.
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Fig: Benchmarking Process
The auto industry, and the auto segments trade, is amongst one of the quickest developing
industries of India (www.mdpi.com). An all-around improved transport network assumes
crucial part in the growth of a nation, particularly in an emerging economy like India
(www.mdpi.com). The auto industry is one of the vital supporters of the GDP due to its solid
progress and connections with numerous central participants (www.globsyn.edu.in). The
industry has been recognized as one amongst the facilitators of economic development in the
country (Napier University on 2017-07-29).
There are several interpretations of the concept of competitiveness, which necessitate some
distinctions. The most basic distinction is between microeconomic and macroeconomic
concepts. Competitiveness can be measured from a variety of angles, including products,
firms, industries, and sectors of the economy or national economies. There are various
measures or indicators of competitiveness at each level of aggregation. The second
competitiveness issue is the distinction between one-dimensional and multi-dimensional
concepts, which refers to the number of dimensions it integrates and measures. The number
of dimensions included in its measurement can be interpreted as a measure of the concept's
complexity (Siggel 2003). We are primarily concerned with the firm-level multidimensional
concept of domestic market competitiveness.
21
Buckley et al. made an interesting attempt to capture more than one dimension of firm
competitiveness (1988). According to him, "a firm is competitive if it can produce superior
quality products and services at lower costs than its domestic and international competitors."
Competitiveness is synonymous with a company's long-term profit performance, ability to
compensate its employees, and ability to provide superior returns to its owners." The most
well-known attempt to assess the multidimensionality of the concept of competitiveness was
made by Porter (1990) in his "Diamond Framework." He identified four major determinants
of enterprise competitiveness as strategy, structure, and rivalry, demand conditions, factor
supply conditions, and conditions in related industries. Although there are numerous factors
that influence firm competitiveness, Porter classified those only under the four facets
mentioned above.
According to Gelei (2003), firm competitiveness is defined as "the basic capability of

perceiving changes in both the external and internal environment and the capability of
adapting to these changes in such a way that the profit flow generated guarantees the firm's
long-term operation." According to him, firm competitiveness is primarily determined by two
factors. For starters, it is determined by a company's ability to identify those value
dimensions that are important to their customers. These are the main features of the complex
product and service package that a customer expects from the firm. The second determinant
of firm competitiveness is the sum of resources and capabilities that enable a firm to create
and deliver the identified important value dimensions for the customer. These are referred to
as core competencies by Prahalad and Hamel (1990).
The UK Government's White Paper on Competitiveness (Department of Trade and Industry
1994) offers a multi-notion definition at the company level, stating that "competitiveness is
the ability to produce the right goods and services of the right quality, at the right price, at the
right time." It entails meeting customers' needs more efficiently and effectively than
competitors.
ADB published yet another significant discussion on the concept of firm competitiveness
(2003). It states that competitiveness can be defined as a firm's ability to survive in a
competitive environment, and being competitive implies succeeding in an environment where
firms try to stay ahead of each other by lowering prices, increasing the quality of their
existing products and services, and developing new ones. The competitiveness of a firm can
thus be examined as a function of factors such as (i) its own resources, (ii) its market power,
(iii) its behavior toward rivals and other economic agents, (iv) its ability to adapt to changing
circumstances, (v) its ability to create new markets, and (vi) the institutional environment,
which is largely provided by the government, including physical infrastructure and the
quality of government policies.
Because competitiveness is linked to a large number of variables, defining it is a research

problem in and of itself. Measuring competitiveness is also difficult because it is a broad,
relative concept with no direct relationship to economic performance indicators. Because of
the multidimensionality of the definition of competitiveness, it is critical to develop a
composite index that can measure it mathematically. Keeping this in mind, an effort has been
made to develop a competitiveness composite index that can measure a firm's competitive
position in the industry and its ability to maintain it in the medium to long run.
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Generally, petroleum fractions have been intimately associated with electric automobiles
being fruitful just in a couple of specialty markets (niti.gov.in). However, throughout the past
10 years, an assortment of conditions has contrived to make an opportunity for the electric
versatility to go into the mass market (niti.gov.in). Some of those factors include:
Climatical change: The possibility of a swift worldwide high temperature rise has made the
requirement of a decrease in utilization of petroleum derivatives as well as related
emanations. India is focused on reducing its GHG discharge concentration by a 33% to 35%
per cent under 2005 standards by the year 2030 (niti.gov.in).
Innovations in renewable energy: Across the most recent decade, innovations in wind and
sun-powered energy age innovations have radically diminished expense and created the
chance for perfect, low-carbon levels, and economical lattices (niti.gov.in). India intends to
add 175 Giga Watts of new and renewable energy limit by 2020 and to accomplish 40% of its
energy age from non-renewable resources by that very year (niti.gov.in).
Swift development: Economic growth, particularly in rising economies, is generating an

influx of development as rustic populaces shift (niti.gov.in) to metropolitan areas eyeing for
work. Though urbanization is a substantial (UNUN on 2021-01-18) part of the interaction of
monetary development, it likewise focuses on the energy and transportation foundation
heading to contamination (Niti Ayogg). Aa per a new report by WHO, our nation is home to
14 out of 20 the most contaminated urban areas on the planet (Niti Ayogg). Electric vehicles
(EVs) may enhance that situation by decreasing nearby groupings of poisons in urban
communities (Niti Ayogg).
Data gain and evaluation: With the ascent of GPS-empowered cell phones and related space
of versatility in applications, portability has gone through a computerized innovation (Niti
Ayogg).
Battery Chemistry: Innovations in battery have driven better energy intensities, faster
charging, and reduced battery deformation due to charging. Combined along with
development of motors with a higher power rating and unwavering quality, these
enhancements in battery chemistry have reduced expenditures and enhanced the performance
and ability of electric vehicles (UNUN on 2021-01-18).
Energy security: The petrol, diesel, and CNG anticipated to power an Internal Combustion
Engine (ICE) centered portability structure involves a broad costly production system that is
prone to disturbance from environment, global events, and various factors (UNUN on 2021-
01-18). India requires to trade in oil to cover more than 80% of its energy needs. That
percentage is set to grow as a rapidly urbanizing population demands further noteworthy
intra-town and inter-town portability (UNUN on 2021-01-18).
23
2.1 Indian Automobile Industry at a Glance
Source: Indian Brand Equity [i] India Brand Equity– Automotive Sector- accessed Dec 1st, 2018
Source: Automobile industry at a glance
24
2.2 Broad Classification of Consumer Behavior
2.3 Kotler’s Model of Buying Behavior
25
2.4 Purchase Decisions Model by Solomon
The customer dynamic cycle is the interaction by which shoppers become mindful of and
distinguish their requirements; gather information on the most proficient method to best tackle
these necessities; evaluate possible accessible alternatives; settle on a purchasing choice and
evaluate their buy. In request to understand the components influencing buy choice of the
Indian and understand its conduct, we allude to the buy.
2.5 Reasons for the Change to Electric Vehicle

A huge amount of carmakers, for example, Toyota, Tata, and Lexus wandered into the
Electric Vehicle domain (IJSR). Also, automakers like Tesla have established an incredible
connection in the electric vehicle production by introducing models like Roadster and Model-
X. Through and through, along with the appearance of Electric vehicles to the marketplace,
the suitability of customary petrol-controlled automobiles are being referred to (IJSR). The
natural and financial advantages of electric vehicles guarantee to be a vastly improved 20
decision. Moreover, electric vehicles utilize natural agreeable and cleaner wellsprings of
energy reducing fossil fuel byproducts and completely electric vehicles guarantee no tailpipe
emanation by any means.
According to an investigation by the Union of the Concerned Scientists, battery operated

vehicles lessen ozone-depleting substances by over 25% contrasted with gasoline-controlled
26
automobiles. Fueling these battery-operated vehicles with inexhaustible resources like
hydroelectric, wind, and sun-based force and electric automobiles can reduce ozone harming
substance emanation radically (IJSR). Technological development brings about an increase in
the battery to 110% of effort by 2020-2025 and can bring about a cost decrease by 40 - 45%
(IJSR). Battery Operated Automobiles offer a decrease in price in terms of better user
experience and generally speaking upkeep cost of the vehicle. Additionally, costs of petrol are
varying in India ever since the selection. Interestingly energy costs are constant when
contrasted with oil. Thus, battery operated are a lot less expensive for shoppers and offer static
expenses of driving (IJSR).
2.6 Creating Economically Feasible Electric Vehicles (EVs)

Battery Swapping Algorithm
The limiting factor of batteries on driving reach might be tended to by developing an

environment of quick charging or swapping of batteries (S.P. Jain Institute of Management
and Research, Mumbai on 2021-03-26). This can be achieved by creating requisite
infrastructure, conceivably even every kilometer, in thick territories. Subsequently, an
important question arises concerning what kind of procedure can make Electric Vehicles
(EVs), particularly little vehicles, economically feasible (Niti Ayog). The general technique
should address two key factors affecting the expenses of Electric Vehicles (EVs): battery
costs and any fiscal approaches that either increase the expenses of an Internal Combustion
Engine (ICE) vehicle or decrease the expenses of an Electric Vehicle (EV) (Niti Ayog).
We are resolved to form an algorithm of obtainment of charged batteries to our customers on

nominal charges while taking piece more exorbitant costs with those customers who aren't
using our vehicle however using our administrations of batteries. Under this algorithm, a client
can look at an application about the accessibility of charged batteries to approach vendors
which will have integration with our business.
Working over technical aspects like Battery Booster or Power Bank
It's additionally under pipeline to work over certain conceivable outcomes of one or the other
designing or procuring such sort of technical aspects of power bank as compared to of power
bank for little electronic devices (like Smartphone, blue-tooth and so on). This will hugely
help in increasing the dependability over electric contraptions if all boundaries may satisfy
the prerequisites (like cost, size etc.).
Installation of Recharging Stations
Without a doubt, it is the most dependable approach to increase the deals of electric vehicles
as charging station is only same as petroleum stations so it's very sensible to say that more the
charging stations more the chance of increase in deals.
Upsurge in Production of Batteries in our Country
As we realize that, approx. 40% of the costs of electric vehicles do change according to the
expense of batteries in this way, an upsurge in the production of batteries will most likely
27
assist in reducing the costs along with decreasing reliance on different nations for the buying
of batteries.
Work is needed to be done on the Design aspect of Electric Vehicles
For increasing mileage of electric vehicles, different inputs are needed to care for the like mass
of the body, friction between tire and street as it prompts an energy reduction, and so forth
along these lines, our vision is to work over it too.
Tata Power
Tata Power is a private power distribution company that plans to invest in EV charging
infrastructure
• Tata Power recently has installed its first electric vehicle charging facility at Vikhroli
in Mumbai. It has set up 2 more stations in North & Central Mumbai.
• Tata Power plans to roll out nearly 50 EV charging stations in Mumbai and New
Delhi
• The chargers can also monitor the car battery charging status and units consumed
while charging a car.
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Ola
Ola has gone one step ahead in implementing Charging stations
Electric Vehicles
• Launched 200+ Ola cars that are charged by the company as of now in Nagpur pilot
project
• Has 50+ charging stations at 4 strategic locations in Nagpur
• Ola electric vehicles are from Mahindra Electric (E20 model)
• The payment system is provided to third party vendor and can be paid via electronic
or cash mode
• These cabs run around 200Kms per day
Limitations/ hurdles
• Setting up charging stations in Tier I city is operationally not feasible

• Drivers come back to charging station to charge, covering 7-8 trips
• Navigation and other apps are draining the battery, and in some instances, they have
covered only 75-80 km over an anticipated mileage of 100km
Charging Stations
• DC fast charging that takes around 75 min to charge

• The ACME group has supplied the charging station
• Company has invested INR 50 Cr in the entire EV project
• The Ola cars are charged by the company under a subsidy
Future Plans
• Planning to launch the same in 2 Tier-I and 3 Tier-III cities in coming years
• Looking at Hyderabad, Lucknow and Kochi in the pilot phase
• Plans to invest $2 billion in Evs in all cities of India and run one million electricity
powered vehicles on the Ola platform by 2020
• Looking to tie up with OEM’s like TATA and Bajaj in future
• Ola is in talks with Government for PPP for pilot projects on EV segment
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2.7 SWOT Analysis for Tata motors to stay competitive in the market
Strengths:
Strong Brand Reputation: Tata Motors is a well-established and renowned brand in the
automotive industry. The company has a long history of manufacturing high-quality vehicles,
and its brand reputation helps in building trust among customers for its EV offerings.
Diverse Product Portfolio: Tata Motors offers a wide range of electric vehicles (EVs), including
passenger cars, commercial vehicles, and electric buses. This diverse product portfolio enables
them to cater to different segments of the market and capitalize on the growing demand for
EVs.
Technological Expertise: Tata Motors has invested significantly in research and development,
allowing them to develop advanced electric vehicle technologies. They have expertise in areas
such as battery technology, electric powertrains, and connected features, which gives them a
competitive advantage in the EV market.
Weaknesses:
Limited Charging Infrastructure: One of the major challenges for the widespread adoption of
EVs is the availability of a robust charging infrastructure. Tata EV Motors may face limitations
in terms of charging infrastructure, especially in developing regions, which can hinder the
growth of their EV sales.
Higher Initial Costs: Electric vehicles generally have a higher upfront cost compared to
conventional vehicles. This cost differential may discourage price-sensitive customers from
considering Tata's EV offerings, limiting their market penetration, especially in price-sensitive
markets.
Opportunities:
Growing EV Market: The global demand for electric vehicles is expected to increase
significantly in the coming years due to environmental concerns and government initiatives to
reduce carbon emissions. Tata EV Motors can leverage this opportunity by expanding its
product range and capturing a larger market share.
Government Incentives: Governments around the world are introducing various incentives and
subsidies to promote the adoption of electric vehicles. Tata EV Motors can benefit from these
incentives, which can make their EVs more affordable and attractive to potential customers.
Threats:
Intense Competition: The electric vehicle market is becoming increasingly competitive, with
both established automakers and new entrants vying for market share. Tata EV Motors faces
competition from global players like Tesla, Nissan, and local manufacturers that may pose a
threat to their market position.
30
Technological Advancements: The electric vehicle industry is evolving rapidly, with
continuous advancements in battery technology, range, and charging infrastructure. Tata EV
Motors must keep pace with these technological advancements to stay competitive and meet
customer expectations.
Supply Chain Challenges: The supply chain for electric vehicles, including battery components
and raw materials, can be complex and susceptible to disruptions. Any disruptions in the supply
chain, such as shortages or price fluctuations, can impact the production and availability of
Tata EV Motors' vehicles.
It's important to note that this analysis is based on the information available up until September
2021, and the actual strengths, weaknesses, opportunities, and threats of Tata EV Motors may
have evolved since then.
Fig: IIDE Digital School
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Chapter 3
Research Methodology
This section entails methodological approaches used to derive data for the study. It includes
the following: study area, and design, population sample size and techniques, procedure for
data instruments and analysis.
Definition
According to Clifford Woody: -
“Research comprises of defining and redefining problem, formulating hypothesis (suggested

solution), collecting, organizing, and evaluating data making deductions and reaching
conclusions and at last carefully testing the conclusions to determine whether they fit the
formulated hypothesis”.
Research is a scientific inquiry aimed at learning new facts, testing ideas, etc. it is the
systematic collection, analysis and interpretation of data to generate new knowledge and
answer a certain question or solve a problem. Research methodology is a science of studying
how research is to be carried out. Essentially, the procedures by which researchers go about
their work of describing, explaining and predicting phenomena are called research
methodology. It is also defined as the study of methods by which knowledge is gained. Its aim
is to give the work plan of research.
3.1 Research Design
A research design is the arrangement of condition of collection and analysis of data in a manner
that aims to combine relevance to the research purpose with economy in procedure.
This research work was based on descriptive design and under which, case study, and cross-
sectional design was used for the study. The use of descriptive design helps explain the
prevailing condition of the phenomenon based on the current conditions of advertisement
impact on consumer preference and brands. The purpose of descriptive design was to enable
the researchers to observe, describe, and document as it is experienced and it naturally occurs.
Sample and Sampling Technique
The design of this study has been structured with the following methodology under convenient
sampling method.
Area of the study of customer preference, perception and their problems has been undertaken
across the cities from multiple respondents.
Descriptive Research Design
Descriptive Research studies are those which are concerned with describing the characteristics
of a particular individual, or for a group. The studies conversion whether with the specific
prediction with narration of facts and characteristics concerning individuals, group or situation
are all example of Descriptive Research Studies.
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Exploratory Research Design
Exploratory Research Studies are also termed as formulate research studies. The main purpose
of such studies that of formulating a problem for more precise investigation or of developing
the working hypotheses from an operational point of view.
The major emphasis in such studies is on the discovery of ideas and insights.
Generally, the following three methods in the research design for such studies are talked about:
• The survey of concerning literature

• The experience survey and
• The analysis of insight – stimulating examples.
Experimental Research Design
Experimental research is research conducted with a scientific approach using two sets of
variables. Experimental research is the most familiar type of research design for individuals in
the physical sciences and a host of other fields. This is mainly because experimental research
is a classical scientific experiment, similar to those performed in high school science classes.
Motivation for the Study
With the headway in innovation and reform in present times, there is a tremendous boost of
innovation in the global auto industry. The auto industry is presently transferring further on
innovation and the greatest advancement is the initiation of electric vehicles (EV). Indian firms
are concentrating on the development and growth of electric vehicle. The electric vehicle
industry of India is in its nascent stage. Additionally, in this cut-throat era, there is incredible
tension on these organizations to expand potency & adequacy. Consequently, by conducting
this study, we will want to impart our findings to businesses which will help them
understanding customer Perception which would additionally help them in designing their
marketing strategies, promotion, and sales.
3.2 Research Process
A research method comprises of phases (VU) or runs that steer the research from its beginning
into the concluding report, advocacies, & final measures (VU). The study procedure gives a
precise, organized passageway to the investigation & guarantees every single characters of the
research project are compatible with one another (VU).
The objective of this segment is to describe the research procedure and techniques that have
been utilized for the success of the project objectives. This study includes exploratory research
through the use of the “Survey Method”. Primary Data and Secondary Data were used for
analysis.
33
3.3 Primary Data
The quantitative research method that has been used in this research and the study is done by
gathering primary data from the population (Nana Adu-Pipim Boaduo, 2011). A structured
questionnaire was designed for respondents using the Google Form platform. The survey
questionnaire was divided into several parts- Demographic Information, awareness about
electric vehicles, different vehicle buying factors by consumers, etc. The primary data will be
used to examine the factors and how these are relevant to the respondent.
Data Collection Instrument
For collecting the primary data “Questionnaire” is to be taken as the research instrument. The
questionnaire has become more popular, comprehensive, and cost-effective method for
collecting data. A questionnaire comprises of a set of questions posed to respondents for their
answers. Questionnaires are containing both open-ended and close-ended questions. The report
has been made using the Primary data that was collected via Google form.
3.4 Secondary Data
These are the research information that has already been produced. These can be company data,
such as existing sales data etc. These data are sourced from books, journals, websites etc.
Limitations of the Study
• No research is complete without admitting the limitations that was faced while
conducting a study which will contribute to present learning. This study too like the
others have certain constrains which has been discussed below.
• The study is mainly concentrated on EV market landscape and opportunity to innovate
for Tata motors
• The sample of the size will be limited to time and resources
• The information will be collected valid until there is no any technical change or any
innovation
• The result is assuming that respondents have given accurate information
34
Chapter 4
Data Analysis
DEMOGRAPHIC ANALYSIS
The demographic findings through this survey are -
• Gender:
➢ The table below shows gender profile of respondents
GENDER NO. OF RESPONDENTS PERCENT
MALE 32 64%
FEMALE 18 36%
TOTAL 50 100%
(Source: Primary data)
INTERPRETATION
• The primary data is collected from 50 respondents

• 64% Of the respondents are male
• 36% Of the respondents are female
35
AGE GROUP OF THE RESPONDENTS
Table 4.2
Age groups No. of respondents % of respondents
18-21 32 64%
22-24 8 16%
24 and above 10 20%
Total 50 100%
INTERPRETATION

• 64% respondents belong to 18-21 age category
• 16% respondents belong to 22-24 age category
• 20% respondents belong to 24& above age category
VEHICLE OF RESPONDENTS
Table 4.3
Particulars No of Respondents % of respondents
Bike 8 16%
Scooter 17 34%
Car 11 22%
All of the above 14 28%
Total 50 100%
36
INTERPRETATION
• The primary data is collected from 50 respondents.

• 16% of respondents have bike.
• 34%of respondents have scooter.
• 22% of respondents have car.
• 28% of respondents have all of the above
FUEL USED IN VEHICLES
Table 4.4
Particular No of respondents % of respondents
Petrol 22 44
Diesel 18 36
Charging(ev’s) 10 20
Total 50 100
37
INTREPRETATION

• 88% of respondents use petrol vehicle.
• 12% of respondents use diesel vehicle.
AWARNESS OF ELECTRIC VEHICLE
Table 4.5
Particulars No of respondents % of respondents
Heard (YES) 49 98
Not Heard (NO) 1 2
TOTAL 50 100
INTREPRETATION

• 48% of responds have heard about electric vehicles.
• 2% of respondents have not heard about electric vehicle.
SOURCE OF AWARNESS ABOUT ELECTRIC VEHICLES
Table 4.6
Friends/family 16 32%
Newspaper 4 8%
Advertisement 10 20%
Social media 18 36%
38
others 2 4%
Total 50 100%
INTREPRETATION

• 32% of respondents heard from friends and family
• 8% of respondents heard from Newspaper
• 20% of respondents heard from advertisement
• 36% of respondents heard from social media
• 4% of respondents heard from others
TOWARDS ELECTRIC VEHICLES
Table 4.7
bike 3 6%
scooter 16 32%
car 31 62%
total 50 100%
39
INTREPRETATION

• 62% of respondents prefer cars.
• 32% of respondents prefer scooter.
• 6% 0f respondents prefer bike.
ATTITUDE OF RESPONDENTS TOWARDS ELECTRIC VEHICLE
Table 4.8
Positive 33 66%
Negative 0 0%
Neutral 17 34%
Total 50 100%
40
INTREPRETATION

• 66% of respondents have positive attitude
• 0% of respondents have negative attitude
• 34% of respondents have neutral attitude
ATTITUDE TOWARDS GOVERNMENT INCENTIVES
TABLE 4.9
Strongly agree 20 40%
Agree 21 42%
Neutral 8 16%
Disagree 1 2%
Strongly disagree 0 0%
Total 50 100%
INTREPRETATION
41
• 40% of respondents strongly agree to this.
• 42% of respondents agree to this
• 16% of respondents are neutral.
• 2% of respondents disagree to this.
INITIAL COST IS HIGH
Table 4.10
Agree 29 58%
Neutral 18 36%
Disagree 3 6%
Total 50 100%
INTREPRETATION

• 58% of respondents agree to this.
• 36% of respondents are neutral to this.
42
NUMBER OF CHARGING STATIONS ARE LESS
Table 4.11
Agree 43 86%
Neutral 6 12%
Disagree 1 1%
Total 50 100%
INTREPRETATION

COST OF BATTE REPLACEMENT IS HIGH
Table 4.12
Agree 33 66%
Neutral 16 32%
Disagree 1 2%
Total 50 100%
43
INTREPRETATION

PRICE OF ELECTRIC VEHICLES IS HIGH
Table 4.13
Agree 26 52%
Neutral 20 40%
Disagree 4 8%
Total 50 100%
44
INTREPRETATION

• 52% of respondents agree to it.
• 40% of respondents are neutral.
EMISSION OF GREENHOUSE GASES IS COMPARTIVELY LOW
Table 4.14
Agree 37 74%
Neutral 12 24%
Disagree 1 2%
Total 50 100%
INTREPRETATION

• 74% of respondents agree to it.
• 24% of respondents are neutral to it.
45
PERFORMANCE OF ELECTRIC VEHICLES ARE HIGH
Table 4.15
Agree 11 22%
Neutral 32 64%
Disagree 7 14%
Total 50 100%
INTREPRETATION

• 22% of respondents are neutral to it
• 14% of respondents disagree to this
ELECTRIC VEHICLES ARE MORE ECO-FRIENDLY THAN PETROL AND

DIESEL VEHICLES
Table 4.16
Agree 42 84%
Neutral 8 16%
Disagree 0 0%
Total 50 100%
46
INTREPRETATION

• 16% of respondents are neutral to this
ELECTRIC VEHICLES WILL GAIN MORE POPULRITY IN FUTURE
Table 4.17
YES 44 88%
NO 1 2%
May be 5 10%
Total 50 100%
47
INTREPRETATION

• 10% of respondents are neutral to this
ATTITUDE OF RESPONDENTS TOWARDS SHIFTING TO ELECTRIC

VEHICLES
Table 4.18
Agree 9 18%
Neutral 29 58%
Disagree 12 24%
Total 50 100%
INTREPRETATION

48
PLANNING TO BUY ELECTRIC VEHICLES IN THE FUTURE
Table 4.19
Agree 24 48%
Neutral 23 46%
Disagree 3 6%
Total 50 100%
INTREPRETATION

ELECTRIC VEHICLES MORE CONVINIENT FOR SHORT TRIPS THAN

LONG TRIPS
Table 4.20
Agree 40 80%
Neutral 8 16%
Disagree 2 4%
49
INTREPRETATION

• 80% of respondents agree to this statement.
• 16% % of respondents are having a neutral opinion.
• 4% of respondents disagree to this statement
EV brands awareness among respondents
50
EV Brands preferred by the respondents to buy
EV Brands preferred in terms of budget friendly

30%
25%
20%
15%
10%
Total
5%
0%
Maruti
Tata
Mahindra
Toyota
Garages
Renault
Hyundai
Kia
Audi
Nissan
Tesla
Mercedes
Suzuki
Morris
What are the Electric Vehicle brands that (blank)
51
Chapter 5
Findings, Suggestions, Recommendation
FINDINGS
• Most of the respondents use petrol as fuel for their vehicles.

• Social media had a significant role in spreading information about electric
automobiles.
• Electric vehicles are seen positively by respondents.
• Majority of respondents have heard about electric vehicles.
• Major respondents prefer car as EV model if any electrical model is available.
• The majority of respondents believe that the government should provide incentives to
encourage people to adopt electric vehicles.
• Around 90% of respondents agree that EV’S can reduce pollution to a certain extent.
• Majority are of the opinion that the initial cost for EV’S are bit high.
• Respondents are satisfied with the environmental friendliness of electric vehicles.
• The number of charging stations are less is a major problem for many respondents.
• Majority have a neutral opinion about the high performance of EV’s.
• The majority of respondents are willing to spread the word about electric vehicles to
others.
• Most of the respondents agrees that price of electric vehicles are high.
• Majority agree that emission of green house effect are low.
• Most of the respondents have neutral opinion about performance of electric vehicles.
• Majority agrees that electric vehicles will gain more popularity in future.
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SUGGESTIONS
• By increasing the number of charging stations, more people will be interested in

purchasing electric vehicles.
• People should place a greater emphasis on electric vehicles in order to reduce pollution
and greenhouse gas emissions.
• Companies should concentrate on informing the public about new car electric modes.
• Petrol prices are steadily rising. The problem of rising petrol prices can be addressed
with electric vehicles. The government’s promotion of electric vehicles will aid the
country’s future progress.
• Incentives and subsidies should be provided by the government for the purchase of
electric vehicles.
• Reduced tax rates can attract buyers to buy electric vehicles to a certain extent.
• By lowering the initial cost of electric vehicles, there will be a growing market in the
near future.
• Electric vehicle promotion also aids the government in saying goodbye to crude oil and
its high price.
• Customer-centric approach: Tata Motors should place a strong emphasis on

understanding customer needs and preferences. Conducting market research, obtaining
feedback, and incorporating customer insights into product development can result in
EVs that align with customer expectations, ultimately enhancing competitiveness.
• After-sales service and support: Providing excellent after-sales service and support is
essential for customer satisfaction and loyalty. Tata Motors should establish a robust
network of service centers dedicated to EV maintenance and repairs. Additionally,
investing in training programs for technicians to specialize in EV technology will
ensure high-quality service and a positive ownership experience for customers.
• Government collaboration: Engaging with government bodies and policymakers is

crucial for staying competitive in the EV market. Tata Motors should actively
participate in discussions on policy formulation, incentives, and regulations related to
electric vehicles. Collaborating with governments can help shape favorable policies,
secure subsidies, and create an enabling environment for EV adoption.
53
RECOMMENDATIONS
• Some general recommendations for Tata Motors in the electric vehicle (EV) market,
but please note that market conditions can change rapidly, and it's always advisable to
consult with industry experts and conduct thorough market research before making any
business decisions. Here are some suggestions based on the information available up
until September 2021:
• Expand the EV product lineup: Tata Motors should continue to expand its electric
vehicle product portfolio across various segments, including passenger cars, SUVs, and
commercial vehicles. This can help cater to a wider range of customers and increase
market share.
• Focus on range and charging infrastructure: Enhancing the driving range of electric
vehicles and improving the charging infrastructure are critical factors for customer
adoption. Tata Motors should invest in research and development to improve battery
technology, increase the range of its EVs, and collaborate with government and private
entities to expand the charging network.
• Offer competitive pricing: Pricing plays a significant role in the adoption of electric
vehicles. Tata Motors should strive to offer competitive pricing for its EVs, ensuring
they are more accessible and affordable for a broader customer base. This can be
achieved by optimizing production costs, leveraging economies of scale, and exploring
potential government incentives.
• Collaborate with charging network providers: To address range anxiety concerns, Tata
Motors should collaborate with charging network providers to ensure widespread
availability of fast-charging stations. Partnerships or strategic investments in charging
infrastructure companies can help accelerate the expansion of charging networks.
• Enhance marketing and education initiatives: Tata Motors should invest in

comprehensive marketing campaigns to raise awareness about the benefits of electric
vehicles and address any misconceptions or concerns. Educating consumers about the
long-term cost savings, environmental advantages, and overall performance of EVs can
help generate demand and improve market penetration.
• Leverage government incentives: Governments around the world often provide various
incentives and subsidies to promote electric vehicle adoption. Tata Motors should
actively engage with relevant government bodies to understand and leverage available
incentives, such as tax credits, purchase subsidies, and infrastructure development
grants.
• Explore export opportunities: Tata Motors should explore opportunities to export its
EVs to international markets where there is growing demand for electric vehicles. This
can help diversify its customer base and increase overall sales volume.
• Invest in research and development: Continued investment in research and development

is crucial to stay at the forefront of EV technology. Tata Motors should focus on
54
developing advanced battery technologies, improving vehicle efficiency, and exploring
new avenues such as autonomous driving and connected car features.
• These recommendations are based on the general strategies for entering and expanding
in the electric vehicle market. However, it's essential to consider specific market
conditions, competitive landscape, and regulatory policies in each region to tailor the
approach accordingly.
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Chapter 6
CONCLUSION
India has recorded 295 million motor vehicles on roads that are registered and working in the
Fiscal Year 2020 in a report by Statista. Where the Center of Energy Finance has predicted a
48 Million figure of registered EVs by 2030, the number currently stands around 966 thousand
and this is due to working metro cities like Delhi, Bangalore and Mumbai are having most of
the figure. So, the predictions seem inaccurate and have many variables to it which the research
paper has focused upon, we may conclude the affecting variables through this concluding
statement of this research.
With this, we come to the end of our list of best electric vehicle stocks in India. The main thing
to notice here is that one can find a TATA company in every segment of the EV sector and this
is the ecosystem that the TATA Group of Companies is aiming at. A full cycle of production
includes the manufacturing of spare parts and batteries, development of software, assembling
of these parts to form an electric vehicle, and ultimately setting up charging stations for EVs at
varied locations all over the country.
Apart from this, companies like Hero MotoCorp and Maruti Suzuki are the prospective players
that are in the queue of launching their EVs soon in the market. From a bird’s eye view, the
companies mentioned above could be a great bet to put upon as the EV segment is yet to achieve
its full potential in India.
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Lack of Charging Infrastructure: According to a MarketWatch report, India will require
approximately 4 lakh charging stations to meet the demand for 20 lakh EVs on the road by
2026. As of March 2021, the country had 1,800 charging stations. According to an independent
study conducted by CEEW Centre for Energy Finance, it would take approximately 29 lakh
public charging stations by 2030 to support EV adoption under the NITI Aayog's base case
target. Around 21 lakhs (71 percent) of these chargers would be low capacity chargers used to
support two- and three-wheelers. Aside from installing more charging stations, a lack of space
is a barrier because people need a place to charge their EVs.
When it comes to development, the electric charging infrastructure faces several gaps and
challenges. In India, AC001 and DC001 chargers are the most common choices for public
charging stations, while most 2W, 3W, and 4W models do not.
Another major issue is a lack of support for grid development to accommodate the increased
load. According to industry estimates, increased use of EVs by 2030 will increase electricity
demand by 100 TWh. There are also other challenges, such as a lack of land, a lack of
instruments to lease government-owned and agency-owned land to set up public charging
stations, and a lack of affordable renewable energy, which means charging EVs puts a strain
on the already stressed coal-powered electricity grid.
In India, there is a need for energy transition in automobiles due to the depletion of fossil
resources and the steady rise in fuel prices. The government has taken steps to reduce pollution
levels by promoting electric vehicles and providing purchasing subsidies. The government has
relaxed FDI rules in order to promote output. EVs are being introduced in India by a number
of new brands. Governments and manufacturers should work together to construct the
infrastructure and create a favorable climate for electric vehicles. The respondents are aware
of global climate conditions and are ready to change their cost is an important factor while
considering the purchase of EV.
If sufficient infrastructure is available, respondents are willing to accept EVs as a future buying
option. The initial cost of purchasing, the limited number of charging stations, and the time it
takes to recharge the battery are all factors that limit consumer confidence.
According to a study conducted by the CEEW Centre for Energy Finance, the transition to the
EV market presents a once-in-a-lifetime opportunity for multiple market stakeholders. This
massive market opportunity has the potential to be a key driver of India's post-COVID
economic recovery, creating jobs and economic value throughout the value chain, both in
existing businesses and in new sectors.
To overcome the challenges of becoming a 100 percent electric vehicle nation by 2030, the
Indian government is taking a number of steps. However, it remains to be seen whether these
measures are sufficient to achieve the goal within the timeframe specified. To encourage early
adopters to choose EVs and alleviate range anxiety, a balanced ratio of EVs on the road and
charging stations is required.
EV Type: Another important factor to consider here is the type of EV that the market demands
and consumers want. This is another major threat to the EV industry growth in this market,
57
people have various expectations from the EVs, when people are preferring EV they either are
looking to save their money on fuel or looking out for high technology luxury experience, But
the Indian market has fixed a range of the vehicles they have launched that are too expensive
for the population looking for a cheaper fuel saving experience and too less in features for the
premium luxury class, so the variety of the right vehicles have not come up yet.
Operational Change in Daily lives: There are two methods by which an EV can be charged,
the fast charging and the regular charging, till the infrastructure is becoming a mainstream
concept, the fast charging facilities shall be available on limited stations. With a regular Indian
power supply of 220V the vehicles have a charging time of 6 hours, in any outbreak or
emergency situation, this will be a lot of time for any individual owner.
Not only the ownership, the manufacturing will also be affected due to the emergence of EV
and if it becomes mainstream by 2040, the companies will have to put large setup costs to
change their operations from producing motor vehicles to all electric vehicles. With that
comes the cost of charging infrastructure as well, the cost of setting up an EV charging
station in India ranges from Rs. 1 lakh to Rs. 40 lakhs, depending on the type of chargers
used and the amount of money The estimate below is based on a more general scenario and a
supply of 250KVA EV Stations.
Availability of Batteries is also a big question for the manufacturing industry. With the new
government initiative, India is gradually but steadily beginning to manufacture EV parts in
the country, with batteries being the first of the lot. Companies involved in this initiative
include
• TATA Group
• Maruti Suzuki
• Hero MotoCorp
• EXIDE
• Amara Raja Batteries
But if the predictions are to be true, it might be possible that the market demand may not be
fulfilled at the rate of growth and production of the vehicles.
Uncertain Policy Landscape: The EVs come loaded with features like self-driving, cruise
control, reflector mirror functions and many more, the government will have to take
necessary actions towards these particular features and the crimes that might come associated
with it. There is currently no dedicated legislation in India to regulate self-driving cars. Even
the 2019 amendment to the Motor Vehicle Act has had no discernible effect on self-driving
or autonomous vehicles. The question of personhood and agency is a recurring one in the
context of AI. There has been very little debate in India about the accountability of AI.
Notably, in 2018, NITI Aayog released a policy paper titled National Strategy for Artificial
Intelligence, which discusses how AI can be implemented in sectors such as healthcare,
agriculture, and automobiles, but this paper also fails to address the issue of AI liability. The
main question now is whether India should follow the British model, in which the owner is
58
liable even if the mistake is committed by the AI, or whether India should follow the German
model, in which the manufacturer of the car is liable when the AI makes a mistake.
Projections vs. Market Demand: We saw in the survey and in the analysis that the
projections for the Cars in the Electric Vehicle industry are a slight mismatch if we get into
details. The concept of EV was brought up to change the fuel consumption aspect of the
owners but the affordability, willingness of the potential customers and demand seems to say
that what companies are planning and what the market needs are two different things.
The Indian automobile market is well-known for its low-cost vehicles. You can find
affordable options in all segments, including hatchbacks, sedans, SUVs (Sport Utility
Vehicles), and MPVs (Multi-Purpose Vehicles). The same is true for the rapidly evolving
electric vehicle market.
Consumers in India have been resistant to EVs due to high costs—a petrol model from
Maruti, the country's largest car manufacturer, costs Rs3.15 lakh, while the most affordable
EV costs around Rs10 lakh.
More Indians prefer petrol, diesel, or gas-powered vehicles. They do not appear to be ready to
buy and use electric cars due to their slow pick-up, slow speed, and the lack of electric charging
stations in their area. Ola's ambitious Electric Vehicle project in Nagpur hit a major snag just
nine months after its launch, with Ola drivers wanting to return their electric cars and switch
back to petrol or diesel variants. The reasons for this are high operating costs and long wait
times at charging stations. So, we can still say that it will take a lot of effort to get India ready
for the EV industry, and the companies' projections appear to be a difficult target for the time
being.
59
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NEWSPAPER
• The Hindu
• The Times New Roman
• The Economic Times
• The Indian Express
JOURNALS
• Janardan Prasad Kesari,Y.S.(2019). Opportunities and Scope for Electric Vehicles in

India. IJME Journal,8
• Philippe Lebeau ,C.D. (2015).Conventional, Hybrid, or Electric Vehicles; Which
Technology for an Urban distribution Centre? The Scientific World Journal,11.
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Electric Vehicles, European Journal of Scientific Research,362- 368.
63
ANNEXURE
A. QUESTIONNAIRE
A study on customer attitude towards electric vehicles
1.Gender
• Male
• Female
• Other
2. Age group
• 18-21
• 22-24
• 24 & above
3. Do you have any of the following vehicle

• Bike
• Scooter
• Car
• All of the above
4. Which fuel do you use in your vehicle

• Petrol
• Diesel
• Charging( ev’s)
5. Are you aware of electric vehicles

• Yes
• No
6. From where did you heard about electric vehicles

• Friends and family
• Newspaper
• Advertisement
• Social media
64
• Others
7. Which model will you prefer the most if electric model is available
• Bike
• Scooter
• Car
8. What sort of attitude do you have towards electric vehicles

• Positive
• Negative
• Neutral
9. Attitude towards Government incentives

• Strongly agree
• Agree
• Neutral
• Disagree
• Strongly disagree
10. Initial cost is high

• Agree
• Neutral
• Disagree
11. Number of charging stations are less

• Agree
• Neutral
• Disagree
12. Cost of battery replacement is high

• Agree
• Neutral
65
• Disagree
13. Price of electric vehicles is high

• Agree
• Neutral
• Disagree
14. Emission of greenhouses gases is comparatively low

• Agree
• Neutral
• Disagree
15. Performance of electric vehicles are high

• Agree
• Neutral
• Disagree
16. Electric vehicles are more eco-friendly than petrol and diesel
• Agree
• Neutral
• Disagree
• Agree
• Neutral
• Disagree
17.Electric vehicles will gain more popularity in future
• Agree
• Neutral
• Disagree
18. Attitude of respondents towards shifting to electric vehicles

• Agree
• Neutral
• Disagree
66
19. Planning to buy electric vehicles in the future
• Agree
• Neutral
• Disagree
20. Electric vehicles are more convenient for long trips than short trips.
• Agree
• Neutral
• Disagree
67
B. SCOPE FOR FUTURE STUDY
• Product portfolio expansion: Tata Motors can continue to expand its EV product
portfolio across various segments, catering to the diverse needs of consumers. By
offering a wide range of electric vehicles, Tata Motors can capture a larger market
share and cater to different customer preferences.
• Technological leadership: Tata Motors can invest in research and development to stay
at the forefront of EV technology. By focusing on improving battery technology,
range, and charging infrastructure, Tata Motors can develop innovative and
competitive EVs that meet customer expectations and address market demands.
• Charging infrastructure development: Tata Motors can collaborate with charging

infrastructure providers, governments, and other stakeholders to accelerate the
development of charging infrastructure. By actively participating in the establishment
of charging networks, Tata Motors can help alleviate range anxiety concerns and
enhance the overall EV ownership experience.
• Market education and awareness: Tata Motors can play a crucial role in educating and
raising awareness among consumers about the benefits of EVs. By conducting
marketing campaigns, providing transparent information, and addressing common
misconceptions, Tata Motors can help increase acceptance and adoption of EVs in the
market.
• Collaborative partnerships: Tata Motors can form strategic partnerships with other
industry players, including battery manufacturers, technology companies, and
charging infrastructure providers. These partnerships can enable knowledge sharing,
access to specialized expertise, and accelerate the development and adoption of EV
technology.
• By actively participating in shaping the future of the EV market and leveraging its
strengths in innovation and sustainability, Tata Motors can establish itself as a leading
player in the global EV industry.
68
THANK YOU
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A

“OPPORTUNITY TO INNOVATION – TATA MOTORS EV MARKET”

CENTRE FOR ONLINE LEARNING

Dr. D. Y. PATIL VIDYAPEETH, PUNE

IN PARTIAL FULFILMENT OF DEGREE OF

MASTER OF BUSINESS ADMISTRATION

This is to certify that Mr./Ms. HIMANSHU BHAGAT

The project is on study on OPPORTUNITY TO INNOVATION – TATA MOTORS EV

Course Coordinator Director

(TO BE PROVIDED BY THE COMPANY WHERE THE PROJECT WILL BE

To whomsoever it may concern

This is to certify that Mr./Ms. HIMANSHU BHAGAT

has completed his/her internship at

starting from 2021 to 2023.

The project is on OPPORTUNITY TO INNOVATION – TATA MOTORS EV MARKET

Signature & Seal of Industry Guide

Place: Name: HIMANSHU BHAGAT

2 Chapter 1: Introduction (Company Profile & 9-19

General Introduction of Topic)

& Objective, Scope and Purpose of Study

3 Chapter 2: Literature Review 20-31

4 Chapter 3: Research methodology 32-34

5 Chapter 4: Data Analysis 35-51

6 Chapter 5: Findings, suggestions, 52-55

7 Chapter 6: Conclusion 56-59

8 Bibliography (Books, Journals, research 60-63

9 Reference (Website, company paper) 60-63

12 B- Scope for future study 68

EVs have seen a resurgence in the twenty-first century as a result of technological

1.2 Research and benchmarking of electric vehicle industry in India

1.3 Drivers for Growth of Electric Vehicles in India

Fig: Secondary source

Fig: Secondary source

• It has already launched electric buses in the state of Himachal Pradesh

• Plans to deliver 25 hybrid buses to MMRDA in Mumbai

Fig: Secondary source

• 15 firms currently supplying EV Chargers in India

Global EV Charger firms

• 5-6 key global firms eyeing the EV Chargers market closely

Likely Indian firms in EV chargers

• Huge interest in the Indian market for manufacturing EV Chargers

Fig: Secondary source

1.9 Scope and purpose of Study

• Improvement in the service provider's market position

According to Gelei (2003), firm competitiveness is defined as "the basic capability of

Because competitiveness is linked to a large number of variables, defining it is a research

Swift development: Economic growth, particularly in rising economies, is generating an

Source: Automobile industry at a glance

2.3 Kotler’s Model of Buying Behavior

2.5 Reasons for the Change to Electric Vehicle

According to an investigation by the Union of the Concerned Scientists, battery operated

2.6 Creating Economically Feasible Electric Vehicles (EVs)

The limiting factor of batteries on driving reach might be tended to by developing an

We are resolved to form an algorithm of obtainment of charged batteries to our customers on

Working over technical aspects like Battery Booster or Power Bank

Installation of Recharging Stations

Upsurge in Production of Batteries in our Country

Work is needed to be done on the Design aspect of Electric Vehicles

Ola has gone one step ahead in implementing Charging stations

• Setting up charging stations in Tier I city is operationally not feasible

• DC fast charging that takes around 75 min to charge

Fig: IIDE Digital School

According to Clifford Woody: -