Renewable energy has great scope in India. The automobile industry is one of them, Automobile sector has taken several giant steps in this direction around the world recently but indian market is still at an infant stage. As compared to other countries, the market share of electric vehicles is extremely low in India.
According to some estimates, the total number of registered vehicles in India is 230 Million and the market is growing continuously. This also leads to India's dependence on fossil fuels. Taking a reformist measure, the Government of India is aiming to promote electrical vehicle usage in the country.
"the government target for 30% adoption of electric vehicles by 2030 will be majorly driven by the electrification of two-wheeler, three-wheeler, and commercial vehicles. Lower rate of adoption of electric vehicles in the passenger vehicle segment is expected to have a limited impact in achieving the targets."
Your team is a group of budding entrepreneurs & you all have discussed, researched and decided that you all should foray into any business related to "Electrical Vehicles" because you all think in unison that "this is the future".
You have a corpus fund of Rs 46 Lakh, which is personal Investment, pooled by all team members & Rs. 60 Lakh loan can be arranged if need arises on 16% per annum fixed rate of interest.
Your start-up acquired a coworking space for 8 people at a monthly rent of 3000/Workstation, in Bangalore City.
2 of your team members are mechanical engineers & 1 member is an electrical engineer. Your startup is also having 1 computer science graduate. 2 team members have left their marketing jobs from reputed automobile companies. Remaining 2 members have recently completed their post graduate management program.
Every team member has an average monthly personal financial requirement of Rs.50 thousand, Which they wish to withdraw every month from this business which seems very difficult at this point in time.
Your team's engineers have already designed and created a prototype electrical vehicle as a college project during their engineering courses.
As your company is a startup and doesn't have enough resources to hire in the beginning, thus you all have to decide who will take charge of which department internally. You all should divide assignments among all departments so that multiple solutions on one assignment can be avoided.
