Group Project

Kanav Khanna – 41084390 (25%)

Rehan – 041111242 (25%)
Samarth Makwana – 41094895 (25%)
Shagufta Karim Dinani – 41093865 (25%)
Algonquin College, Toronto
MGT1211: Development of Products and Services for Global Markets - 05
Prof. Marco Nina
21st June 2023
 INTRODUCING OUR PRODUCT - ELECTRIC VEHICLE (EV)

With the advent of electric cars (EVs), the automotive industry has experienced a substantial
transition recently. Electric cars are an environmentally friendly and energy-efficient
alternative to conventional automobiles since they are fueled by electricity rather than petrol
or diesel. EVs are the future of the automobile industry because of their quick rise in
popularity. In this article, we'll examine the advantages of electric cars that make them an
attractive choice for both corporations and individual consumers. Electric automobiles will
undoubtedly provide numerous benefits that you should take into consideration, whether
you're searching for a vehicle that is more environmentally friendly or one that might save
you money over time.
 COUNTRY: NORWAY

Norway is a global leader in the use of electric vehicles (EVs), as the switch to electric vehicles
has been made there at a remarkable rate. A tremendous growth of over ten percentage points
from the prior year, which was already a record, led to battery electric vehicles making up
54.3% of all new automobiles sold in Norway in 2020. To promote EV ownership, the
Norwegian government has implemented a wide range of incentives, including exemptions
from taxes, tolls, and purchase and import taxes. Furthermore, Norway has a world-class
charging infrastructure, with thousands of public charging stations spread out across the
nation, making EV ownership more practical and accessible than ever.
 JUSTIFICATION

We have determined that Norway is a promising market for the sale of electric vehicles
based on preliminary research. The main justifications for picking Norway include:

 High Demand: With more than 50% of all new cars sold in Norway being electric, the
country boasts one of the highest per capita adoption rates for electric vehicles. This
suggests that there is a big market need for electric vehicles in the nation and offers
a sizable opportunity for prospective investors.

 Government Incentives: To promote the use of electric vehicles, the Norwegian

government has put in place several incentives, including lower taxes, toll
exemptions, and free parking. Electric automobiles are more cost-effective and
appealing than conventional gas-powered cars because of these incentives.

The government's initial goal of 50,000 electric cars on Norwegian roads was reached
on 20 April 2015. The plate "EL 60000" was granted to the 50,000th electric car
registered.
  Changing Infrastructure: Norway's wide charging network and high density of public
charging stations make it simple for owners of electric cars to refuel their vehicles
while out and about.

 Sustainability Goals: Ambitious sustainability targets have been established by

Norway, including a decrease in greenhouse gas emissions from the transport sector.
To accomplish these objectives and make the transition to a low-carbon economy,
electric automobiles are crucial.

Overall, based on our secondary research, we feel that Norway is a viable market for the
sale of electric vehicles due to the strong demand, supportive government regulations,
charging infrastructure, and environmental aspirations.
 Product Development Learning

Designing for innovation, sustainability, and user experience is essential for the widespread
adoption of electric vehicles (EVs) in Norway. This is due to Norway's strong demand for
EVs, which is caused by the country's supportive legislation, extensive infrastructure for
charging, and dedication to environmental sustainability. It is essential to create an EV that
satisfies these objectives.
Designing an EV that incorporates innovations like quick charging, regenerative braking, and
energy-saving technologies is essential in terms of innovation. Furthermore, Norway's
emphasis on lowering greenhouse gas emissions and converting to a low-carbon economy
makes designing sustainably imperative. This may be accomplished by building the car with
eco-friendly materials and components and adding features like energy-efficient motors.

All-electric cars at a free parking lot reserved for charging in Oslo (2018), which kept
the perk. Since January 2017, free parking for EVs was terminated in 34 major
municipalities.
Another important consideration in EV design is the user experience, as customers
frequently place a high value on comfort, convenience, and usefulness. Norway places a
strong focus on battery life and charging speed, demonstrating the value of user experience.
Due to the large distances in the nation, battery range is vital, and charging speed is
essential for the convenience of EV users, especially those who travel long distances.
Finally, creating an EV that is affordable and dependable is essential for widespread
acceptance in Norway. This may be accomplished by using high-quality parts, robust
batteries, and making sure the car is tough enough to function in Norway's particular
weather conditions. Given that Norway has a greater cost of living than many other nations,
which may make EVs more expensive, creating an EV that is cost-effective for broad
adoption is also essential.
 Marketing and Selling Process

Electric cars are exempted from payment of ferryboat fees.

Social media sites like Facebook and Instagram are a wonderful approach to reach a wide
variety of prospective customers for the marketing strategy of electric cars (EVs) in Norway.
These platforms make it simpler to contact individuals who are interested in EVs or are
thinking about buying one by enabling tailored advertising to age groups, interests,and
places. These platforms also provide chances to create interesting material, such movies,
pictures, and interactive quizzes, which may raise brand exposure and boost interaction with
potential clients.
For accessing a wider variety of customers, forming relationships with neighborhood dealers
and service facilities might be advantageous. Through these collaborations, the distribution
network for EVs may be widened, enabling more individuals who reside outside of urban
centers or in rural regions to access them. Additionally, by offering a dependable and
trustworthy source for maintenance and repairs, collaborations with neighborhood service
centers may assist to increase confidence with potential clients.
It's crucial to take use of Norway's expanding charging network infrastructure if you want to
give your consumers easy-to-use charging alternatives. Norway has one of the largest
charging networks in the world, which consists of a mix of publicly accessible charging
stations and privately owned and operated charging stations. Utilizing this infrastructure can
reduce range apprehension and make EVs more appealing to potential buyers.
In general, an efficient marketing plan for EVs in Norway should make use of social media
channels, forge alliances with nearby dealers and service facilities, and make use of the
expanding infrastructure of the charging network. These strategies may raise brand
recognition, widen the distribution network, and give potential buyers easy and convenient
charging alternatives.
 CONCLUSION

Norway's favorable rules, financial incentives, and demand for green vehicles all support
the country's choice to introduce an electric vehicle (EV) product. Norway has some of the
most alluring subsidies, bonuses, and incentives available to EV buyers anywhere in the
world, which makes the market extremely profitable for automakers. Norway is a perfect
market for EVs because of its strong commitment to environmental protection.
A compelling and trustworthy electric car that satisfies the demands of Norwegian customers
may be made using the research and lessons learned from the product development
classes. The EV will be a very alluring buying choice for Norwegian customers because to its
mix of modern design, sustainability, and user experience, among other reasons.
Automakers may take a stand in Norway's competitive EV market with a strong marketing
and sales strategy. To increase brand recognition, widen distribution networks, and give
customers a more convenient charging experience, companies can collaborate with regional
dealers and service centers, make use of social media platforms, and leverage Norway's
extensive charging network infrastructure. Launching an EV product in Norway with the
appropriate approach can result in long-term success and profitability in the quickly
expanding EV market.

Historical evolution of the Norwegian plug-in electric car segment market share of
annual new car sales and monthly records through 2021
 References:
Norway: with stats from December, stronger EV sales in 2020 by Electrive.com. (2021,
January 5). Retrieved June 20, 2023, from https://www.electrive.com/2021/01/05/norway-
registers-13718-new-bevs-in-december/
For EVs, the Future Is Already Here in Norway by Triple Pundit. (2019, April 3). Retrieved
June 20, 2023, from https://www.triplepundit.com/story/2019/evs-future-already-here-
norway/83041
Top Gear's top 20 electric cars by TopGear.com. Retrieved June 20, 2023, from
https://www.topgear.com/car-news/electric/top-gears-top-20-electric-cars
https://en.wikipedia.org/wiki/Plug-
in_electric_vehicles_in_Norway#/media/File:Top_countries_plug-
in_ownership_per_1000_people_2018.png
https://en.wikipedia.org/wiki/Plug-
in_electric_vehicles_in_Norway#/media/File:Tau_ferger_(6934452319).jpg
https://en.wikipedia.org/wiki/Plug-in_electric_vehicles_in_Norway