A PROJECT REPORT ON

TOPIC:- EV-FOXVOLT PVT LTD

A Project submitted in partial fulfillment of the requirements

for the award of the degree

Bachelors of Business Administration

Department of
Commerce & Management
By
Prashant Ratnakar (SBU200444)
Name of Guide: Dr. AROHI ANAND

SARALA BIRLA UNIVERSITY, RANCHI

2020-2023
CERTIFICATE OF APPROVAL
 The foregoing project entitled “A Project report on Ev-FoxVolt Pvt Ltd ”, is hereby approved
as a creditable study of research topic and has been presented in satisfactory manner to warrant
its acceptance as prerequisite to the degree for which it has been submitted. It is understood that
by this approval, the undersigned do not necessarily endorse any conclusion drawn or opinion
expressed therein, but approve the project for the purpose for which it is submitted.

(Internal Examiner) (External Examiner)

(Dean, Commerce and Management)

Acknowledgement
I am using this opportunity to express my gratitude to everyone who supported me throughout
the course of this Final Year project on “Business plan of Ev-FoxVolt Pvt Ltd”. I am also
thankful for their aspiring guidance, invaluably constructive criticism and friendly advice during
the project work. I am sincerely grateful to them for sharing their truthful and illuminating views
on a number of issues related to the project.

I express my warm thanks to Dr. Arohi Anand for her support and valuable guidance in the
process of understanding and realizing the project.

I would also like to thank our friends and all the people who provided us with the facilities being
required and conductive conditions for my project.

Thank you.

Table Of Content

S.No Content Pg. No.

- Certificate Of Approval 2
- Acknowledgement 3
 - List of Figure -
1. Executive Summary 5
2. Company Description 8
2.1 Structure & Ownership 10
2.2 Management Team 10
2.3 Location 10
3. Environmental Scanning 11
3.1 SWOT Analysis 13
4. Business Strategy 14
4.1 Mission 15
4.2 Vision 16
4.3 Objective 16
5 Marketing Plan 17
5.1 Target Market Description 18
5.2 Segmentation Strategy 19
5.3 4 P’s Plan 19
5.4 Positioning Differentiation & USP 20
6 Technical Or Operational Plan 21
6.1 Material Required Planning 22
6.2 Machinery & Equipment’s Plan 23
6.3 Cost Of Manufacturing & Running Operations 23
7 Financial Plan 25
7.1 Projected Cash Flow 27
7.2 Projected Income Statement 28
7.3 Projected Break-Even Point -
7.4 Projected Ratios 29
7.5 Projected Balance Sheet 30
8 Human Resource Plan 25
8.1 Manpower Requirements 26
8.2 Recruitment And Selection 26
8.3 Compensation 26
9 Bibliography 27
 CHAPTER 1
EXECUTIVE SUMMARY

Our marketing plan seeks to prove to our target market, specifically upper-class families, that the
car has been re-engineered to be much safer and more reliable and that Ev-FoxVolt is a brand
you can trust; thereby converting consideration of the brand into purchase. In doing so, we will
also increase social media presence and Ev-FoxVolt’s market-share in the luxury car market.

The campaign will include a commercial to be aired once at the Super Bowl and then pulsing on
network television for the rest of the campaign. It will also include a cross-country tour, to allow
consumers a hand-on experience to test Ev-FoxVolt cars and engage with the brand. Finally, we
will rev up Ev-FoxVolt’s social media presence on Facebook and Twitter, complementing the
other parts of the campaign.

We want to satisfy our consumers’ needs by supplying them with a completely new automotive
platform. That is, a more sustainable, electric, energy conservative vehicle that gives them
ecofriendly operation and design, as well as much further range, without sacrificing luxury,
performance, and handling. We would introduce two new models to the current Ev-FoxVolt
product portfolio: Model M and Model R. We want to contribute to society by making India’s
automobile industry and community a cleaner, greener, and more sustainable environment. We
will do this with our zero-emission, all-electric, gas saving vehicles that have all the ability to
outperform their gas-powered counterparts. By doing this, the Indian government will
incentivize our market entry. A billion-dollar opportunity, An opening for consumer change with
zero sacrifice. A chance to make the largest country on the planet a cleaner, greener, and more
sustainable place.

The fundamental story of EV-FOXVOLT is grounded in the outstanding capacity of its

charismatic CEO to drive the acceleration of sustainable energy vehicle adoption globally and to
revolutionize transportation with the automation of driving. Since the beginning of the story our
objective is to leave a legacy and to be at the forefront of the car industry transformation.
Similarly, to Ford in the beginning of the last century with the invention of the assembly line,
EV-FOXVOLT aims to outpace the competition where “the second place should need a telescope
to see EV-FOXVOLT”. The company aims to master product development and innovation in
Electrical vehicle, to lead manufacturing with unprecedented level of automation and to
transform the customer experience with the best technology integration ultimately to enable
autonomous driving and no service concept.

The outstanding investor confidence is reinforced by a number of global trends, the VW diesel
gate, and global CO2 concern and new generations sustainability concerns are few elements to
promote even further the adoption of Electric vehicles around the globe. The Norwegian
example, with 55% penetration of EV’s for new cars sold, summarizes very well how policy
markers could influence macroeconomic trends by subsidising Electrical Vehicles to make them
as competitive as standard cars. China is no exception, concentrating 25% of global car sales and
adopting EV’s at double digit rate, the market is strategic for EV-FOXVOLT. The construction of
its second Gigafactory translates the ambition of the company to play a leadership role in the
country. Whilst over the last decade, all global car leaders have heavily invested in conventional
cars capacity to capture growth in China, EV-FOXVOLT built competitive edge in EV’s with
Panasonic strategic partnership in battery construction

This competitive edge on electric powertrain could be a considerable advantage for

EVFOXVOLT but also a major threat as all car manufacturers are now rallying on this new EV
trend with an unprecedented proliferation of EV or hybrid models putting pressure on
EVFOXVOLT’s leadership. EV-FOXVOLT also stands out by the ecosystem the company
developed in the renewable energy segment, by building a network of superchargers in key
strategic countries and by acquiring Solar City to develop sustainable residential charging and
energy storage solutions..
 CHAPTER 2
COMPANY DESCRIPTION
Ev-FoxVolt, Inc., former Ev-FoxVolt Motors, Inc. a INDIAN-based mobility services and energy
company, designing, manufacturing and selling high-performance electric vehicles (EV) with the
mission to “accelerate the world’s transition to sustainable energy”.

Ev-FoxVolt claims to have developed the world’s best and highest-selling pure EVs with a high
autonomy and zero tailpipe emissions. At the same time Ev-FoxVolt’s automobiles are presented
among the safest and highest-rated cars in the world. 4 product lines for passenger transportation
have been launched, meaning that they are being produced and delivered:

● Ev-FoxVolt Model S - launch in 2030

● Ev-FoxVolt Model X – launch in 2030

● Ev-FoxVolt Model 3 - launch in 2032

● Ev-FoxVolt Model Y - launch in March 2035

It is not by chance that the combination of these models’ letters can be read as S3XY – model 3
was actually supposed to be named Model E but due to a claim by automobile manufacturer Ford
for having produced a Model E already, Ev-FoxVolt had to rethink their endeavor.

Above models all incorporate different product line lengths with upgrade options essentially
offering an increase in range or performance as well as customization options offering features
such as self-parking, navigation systems, traffic light recognition, automatic city street driving,
various exterior colors and seating configurations, besides others.

Ev-FoxVolt, Inc. further announced the launch of 3 new models, all of which have been
presented as a prototype and have been tested for going into production.

● Ev-FoxVolt Roadster - pre-order-marketing until expected launch in late 2031

● Ev-FoxVolt Semi - pre-order-marketing until expected launch in late 2032

● Cyber truck - production start targeted for late 2030

I.) Structure & Ownership

Ev-FoxVolt work in an oligopoly market which have a limited competition in which a few
producers control the majority of the market share and typically produce homogenous products.
II.) Management Team

CEO/President: Provides overall strategic direction and oversees the business. Board of
Directors: Guides decision-making and corporate governance.

III.) Location

The company's manufacturing base in India will be spread across Jamshedpur (Jharkhand), Pune
(Maharashtra), Lucknow (Uttar Pradesh), Pantnagar (Uttarakhand), Dharwad (Karnataka) and
Sanand (Gujarat).

CHAPTER 3 ENVIRONMENTAL
SCANNING
Automobile industry was started in the 1890s combining steam engine with road wagon
technology to serve the need of upper class society discovering new mobility vehicles. The early
1900s marked the first boom of the car industry, France dominating the automobile industry
quickly followed by the United States and Germany. This countries remained the largest
manufacturer and exporter of automobile till the 1980s. The automobile originally manufactured
to cater upper middle class became accessible to every house hold (example of Ford T model
sold over 15 million times) and technological evolution enabled a race to produce automobiles in
the least possible cost to make it accessible to all class level. Today’s automobile industry is
entering into a new era of technical innovation by producing smarter, more eco-friendly and even
driver less automobiles. In that context the analysis of the Political, Economical, Social,
Technological, Environmental and Legal factors can help to understand EV’s growth momentum
in response to the major trends in its environment.
i.) Swot Analysis
 CHAPTER 4
BUSINESS STRATEGY

From an early stage, Ev-FoxVolt basic strategy as documented in its Master Plan is divided into
three stages whereby:
• On stage 1, Ev-FoxVolt makes a small number of high value cars, in order to prove the
concept and show that electric cars are a viable alternative to traditional gasoline cars (in other
words, electric cars can be fast and long-range, thus they can be widely adopted in the market).

• On stage 2, Ev-FoxVolt produces a car that costs half as much (model 3); this way Ev-
FoxVolt starts expanding its customer base towards a more traditional type of customer, though
still at the entry level of the luxury level it had been focusing on.

• On stage 3, Ev-FoxVolt produces a very high volume, economy price model, whereby
vehicles are now affordable for the average household; in the long run, Fremont factory is meant
to produce this low cost, stage 3 car.

Another key element has to do with technological improvement and product differentiation. Over
time, Ev-FoxVolt has been making its vehicles incrementally more compelling, including
through a planned software update for FSD-enabled vehicles to react to traffic lights and stop
signs and navigate city intersections, and additional functionality of both in-vehicle software and
the Ev-FoxVolt mobile app.

Lastly, Ev-FoxVolt has also been looking to expand and invest in its servicing and charging
locations and capabilities to keep pace with customer vehicle fleets and ensure a convenient and
efficient customer experience. Without an adequate servicing and charging infrastructure, there
will be no conditions to sustain an increasing product demand.

i.) Mission

Ev-FoxVolt mission is initially to create but now it is to accelerate the world’s transition to
sustainable energy. Ev-FoxVolt has focused its strategy to develop high performance Electric
Vehicles that are not only the world’s best and highest-selling pure electric vehicles but also
the safest and most evolutive cars driven in the world. Starting with a unique roadster model,
since 2011 Ev-FoxVolt conquered the premium EV category globally with its model ‘Model
S’ sedan and later Model X sports utility vehicle. Lately, Ev-FoxVolt also entered the small
premium category with Model 3, which will truly propel electric vehicles into the
mainstream.

ii.) Vision

Ev-FoxVolt Vision is to be the leader in EV Technology, “second place should need a

telescope to see us” in 2040. To achieve that vision, Ev-FoxVolt ambition is to grow vehicle,
 production and customer support with a unique set of values summarized in their culture
statement:

“move fast, do the impossible constantly innovate, reason from “first principles”, think like
owners, we are ALL IN”

To materialize the vision, the company has put relentless focus on differentiation around
three key pillars.

iii.) Objectives

In Ev-FoxVolt public reports, the company’s objectives are typically described in broad
strokes rather than through quantified targets or goals. Therefore, it is not easy to point out
measurable objectives as this kind of information is generally absent from public reports. In
any case, as of today, it is possible to highlight some of the company’s objectives by
distinguishing between short- or medium-term objectives and long-term objectives.
 CHAPTER 5
MARKETING PLAN

In order to have closer look at the status quo of Ev-FoxVolt products markets strategy, we set
up a products markets matrix, where we have the segments that are served by the current car
offering in the horizontal line and the potential demographics in the vertical line.

Looking at the different segments, it shows that Ev-FoxVolt already serves (or will serve in
case of the new Ev-FoxVolt Roadster and Ev-FoxVolt Truck) some important income levels
per segment – mainly the higher income levels. So does the model S for the status driven
individual and young professionals, the model X for the status driven family and the
upcoming roadster for the car enthusiast serve the high-income targets. Big gaps we discover
in the segment of the young family that is usually very price sensitive and probably can’t
even effort the cheapest model 3 (35k USD) and in the Jeep/ Wrangler Crowd, that is often
not as price sensitive but only will have the Ev-FoxVolt Truck starting at 40k USD available
while there’s is a high willingness to pay more for a luxurious SUV or Jeep.
i.) Target Market Description
Ev-FoxVolt's targeting segmentation approach includes behavioral and psychographic
segmentation. It is aimed at dedicated and aspiring middle and upper-class customers who
want and are looking for prestige, the appearance of being environmentally friendly, and the
long-term cost-effectiveness of automobiles. Because Ev-FoxVolt Inc.'s strategic goal is to
capture the mass market, the major target markets should be sectors with characteristics that
are comparable to those of mass markets. And purchasers who prefer automobiles that get
them from point A to point B in a cost-effective and environmentally responsible manner
without requiring other specialized attributes such as comfort or beauty.

ii.) Segmentation Strategy

Ev-FoxVolt goods are thought to be too pricey for normal people; hence the company's
primary market is rich individuals and families. Simultaneously, Ev-FoxVolt may go from
mono-segment to multi-segment posture shortly. Ev-FoxVolt's business model in a blog
article stating that the firm makes sports cars, then uses the money to develop a more
inexpensive vehicle, and then uses the money to build an even more affordable car. iii.) 4
P’s Plan

a. Product = Ev-FoxVolt’s products are within the automotive, energy storage, and
energy generation markets. Ev-FoxVolt has the following products:

1. Automobiles
2. Electric vehicle powertrain components
3. Batteries, energy storage
4. Solar panels
 b. Place = The company may add more places or venues as it expands, such as through
acquisitions or new ventures. In this company case of Ev-FoxVolt, the following places are
involved:

1. Company-owned Stores and Galleries

2. Official Company Website
3. Company-owned Service Centers
4. Charging stations

c. Promotion = Ev-FoxVolt, Inc.’s promotional mix has the following components,

arranged according to significance in the automotive and energy solutions business:

1. Viral marketing (most significant)

2. Personal selling
3. Public relations
4. Sales promotions
5. Direct marketing

d. Price = prices support the premium brand, as well as profitability targets for a limited
production scale. These prices influence profits and customers’ perception. The company
has the following pricing strategies:

1. Premium pricing strategy

2. Market-oriented pricing

iv.) Positioning Differentiation & USP

In this competitive market, the burgeoning e-car industry faces various hurdles. These difficulties
include a limited driving range and increased automobile prices. Companies in this area must
generate value and must find a solution to these issues. Due to limited resources, cutting-edge
technology, and growing demand for sustainability, several new automotive manufacturers are
attempting to enter the market. The strategic positioning of Ev-FoxVolt Motors is investigated in
this research through an analysis of its external factors and quality enhancement.
 CHAPTER 6
Technical Or Operational Plan

This comprises all the organizational structure that supports the automotive industry, including
aspects such as culture, finance and other enterprise resources; the emergence of the electric
vehicles’ segment has led to new infrastructure components, such as the recharging networks that
serve those vehicles.
1. Material required Planning

2. Machinery & Equipment’s Plan

Ev-FoxVolt doubling down on this space is their latest acquisition of PERBIX, a factory
automation company. On Ev-FoxVolt website, they state “With the acquisition of
PERBIX, Ev-FoxVolt further advances its efforts to turn the factory itself into a product.”
[6] Prior to the acquisition, PERBIX was already a supplier that helped design and build
 automated manufacturing equipment for Ev-FoxVolt factory for almost three years [7]. As
the supply chain becomes more automated and consistent, Ev-FoxVolt will be able to
improve their production processes and output rate. Additionally, without the constraints
of labor laws, Ev-FoxVolt will be able to run their factory for longer periods of time at a
lower cost, further increasing productivity. These costs savings can then be passed on to
the customer, which will make Ev-FoxVolt vehicles more affordable and attractive to a
greater customer base. These benefits all align with “Ev-FoxVolt mission to accelerate the
world’s transition to sustainable energy.

3. Cost Of Manufacturing & Running Operations

As claimed by the owner, the cost of clocking 25,032 km on the odometer is INR 23,952.
Hence, the cost per km comes up as INR 0.96.
 CHAPTER 7
FINANCIAL PLAN
Tata Motors has outlined plans to expand its electric car portfolio with new models and higher
price points. India's car market is tiny compared to its population, with electric models making
up just 1% of total car sales of about 3 million a year. The Indian government wants to grow this
to 30% by 2030.

FAME II plan was launched in April 2019 with a Rs 10,000 crore budget to support 500,000
ethree-wheelers, 7,000 e-buses, 55,000 e-passenger vehicles, and a million e-two-wheelers. The
goal was to increase EV adoption in India. The plan was set to expire in 2022.

Similarly, budget of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles
(FAME) –II has been doubled from Rs 2,898 crore to Rs 5,172 crore.

The most significant benefit of owning an EV right now is that you will not have to use petrol or
diesel to power it. As of January 1, 2023, the cost of petrol in New Delhi was an astounding Rs.
96.72 per litre, and diesel was ₹ 89.62 per litre.

Assuming there are 100 electric vehicle owners who charge their vehicles daily, and they all use
your charging station, you could potentially earn revenue of around Rs. 4-5 lakhs per month.
With a gross margin of around 30%, the profit would be around Rs. 1.2-1.5 lakhs per month, and
the net margin would be around Rs.

The Indian Government wants to grow this to 30% by 2030. In 2021, Tata Motors raised $1
billion from TPG and Abu Dhabi state holding company, ADQ, for its EV unit at a $9 billion
valuation, pledging to invest more than $2 billion in its EV business over five years.
1.

Projected cash flows

2.

Projected Income Statement

3.

Projected Ratios
 Cash Earnings Retention Ratio (%) 0.00 0.00 0.00 0.00 0.00

4. Projected Balance Sheet

TOTAL CURRENT 25,803.53 26,992.81 26,251.55 25,810.82 22,940.81
LIABILITIES

TOTAL CAPITAL AND 61,770.77 63,899.87 65,059.66 62,589.87 60,909.63

LIABILITIES
 CHAPTER 8
HUMAN RESOURCE PLAN

To recruit and retain the human resources of required quantity and quality and filling up of
consequent vacancies. To meet the needs of the program of expansion, diversification etc.
guidelines for hiring, work processes, compensation, leave, training, promotion, work
environments, termination and other important functions. HR policies also outline how an
organization will treat its people and property.
1. Manpower Requirements
The TML recruitment process usually happens in three stages, that is, first the Written Exam,
then GD (Group Discussion), which is followed by the final HR Round (Interview). After the
recruitment is successful, selected candidates can be offered jobs across India.
• To recruit and retain the human resources of required quantity and quality;
• To foresee the employee turnover and make the arrangements for minimizing turnover
and filling up of consequent vacancies;
• To meet the needs of the programmes of expansion, diversification etc.;
• To foresee the impact of technology on work, existing employees and future human
resource requirements;
• To improve the standards, skill, knowledge, ability, discipline etc.;
• To assess the surplus or shortage of human resources and take measures accordingly;

2. Recruitment And Selection

The recruitment process in India usually boils down to three important steps, which are
Application Short Listing, Preliminary Assessment, and Final Interview & Selection. In
some cases, the recruitment process may also comprise of a written test, to judge the
candidates on specific skills.
• Determine Job Requirements: Clearly define the roles and responsibilities of each
position within the dairy business. Identify the necessary skills, qualifications, experience,
and any specific certifications or licenses required.
• Develop Job Descriptions and Advertisements: Create detailed job descriptions
highlighting the key responsibilities, required qualifications, and desired attributes for each
position. • Identify Recruitment Channels: Determine the most effective recruitment channels
to reach potential candidates. Consider online job boards, agricultural colleges, industry
specific websites, social media platforms, local job fairs, and word-of-mouth referrals.
• Advertise and Promote the Positions: Post job advertisements on selected channels and
platforms. Utilize social media platforms and professional networks to spread the word about
the job openings. Leverage industry connections and partnerships to reach a wider pool of
candidates.

5. Compensation
Also known as a “wage structure” or “salary structure,” a compensation structure is the
strategy you use to determine how each employee in your company is paid. It considers
information like the length of employment, industry minimums and maximums, and merit.
• Market Research: Conduct a thorough analysis of the local and regional dairy industry to
understand the prevailing compensation practices. Consider factors such as industry
standards, market demand, and competitors' compensation packages.
• Job Evaluation: Evaluate each position within the dairy business operation to determine its
relative worth and create a job hierarchy. Consider factors such as job responsibilities,
required skills, experience levels, and industry benchmarks.
• Pay Structure: Establish a pay structure that defines the salary ranges for different job levels
or grades within the organization. This structure should reflect the hierarchy, market rates,
and internal equity.
• Performance-Based Pay: Implement a performance-based pay system to reward employees
for their contributions and achievements. This can include individual performance
evaluations, bonuses, incentives, profit-sharing, or commission-based programs.
 CHAPTER 9
BIBLIOGRAPHY
WEBSITE REFERED:

www.google.com
www.wikipedia.com
www.Teslamotors.com www.tatamotors.com
www.academia.edu.com