Assignment Taken

Prepare Product development plan.

Case Understanding

1. Electric vehicles industry has great scope in India but the potential is not being realized fully. 2. Market share in India for electric vehicles is too low. 3. Since there are increase in demand for automobiles in India, the demand for fossil fuel increases too. Which leads to dependency and trade defect with the middle east countries. 4. Government is trying to work on the electric vehicles industry through various reforms and schemes, but the real problems can be solved by entrepreneurs through innovation and dedication in this industry. 5. There are prototypes ready with the team but the real problem is the lack of funds. 6. EV’s are already there in the markets, the challenge is to develop such product which will not only compete with those products in the market but also provide customers with such value that our product get place in their frame of consideration. 7. True challenge with EV’s are the range of the vehicles in one charge, if somehow the range is improved then people will buy EV’s. 8. There is no infrastructure for EV’s in India, like charging station on regular intervals, subsidies for EV’s, battery disposal techniques, etc.

BCS Solution Summary

• Development of dual battery system for long range. • Self-rechargeable batteries through mechanical power and solar power. • On an average 50% higher fuel efficiency than the competitors. • Conversion of conventional vehicles in EV’s. • Futuristic and sleek design. • Digital touch screen display with Android OS on dashboard. • GPS navigation • Anti-theft technology (Biometric lock) • AI (artificial intelligence)

Solution

Objectives:

•  To develop two wheelers and three wheelers for middle class and upper middle-class customers with durable and reliably high performance within affordable price and minimum cost.
• To create service for already existing conventional vehicle owner to convert it into electric vehicle.

 

Market analysis:

Porters 5 force analysis:

• Threat of new entrant

There exists moderate threat of new entrants as govt. of India is providing various incentives and reforms to encourage companies to invest in green technologies. However, there is huge investment in this this sector so only financially strong players can survive in this industry.

• Existing competitors

There exists various big competitors in the market like bajaj, hero, honda, TVS, Revolt,etc, Bajaj chetak, Hero electric optima, Revolt RV400, Hero Electric Flash, TVS iQube 

There are various automotive companies who fight for potential buyers of electric vehicles. A strong competition and a high power of buyers results in an intense rivalry in the electric vehicle industry. This is further increased, by a strong growth rate and a huge market prediction in the upcoming 2-5 years. Because of that, new companies are entering the industry (e.g. Tesla), which leads to an even stronger competition.

• Threat of substitute products

Very high, The e-mobility industry has a similar competition structure as the traditional automotive industry. Emerging mobility concepts (such as mobility on demand, rideshare, autonomous driving, etc.) as well as traditional alternatives of transportation (e.g. bus, train, plain, etc.) are a serious threat to electric vehicles.

 

• Bargaining power of buyers

Very high, as there is a in the industry, the power is with the buyers. Another factor that increases the power of the buyers is the limited switching costs. To switch from one model to another has little to no costs for intense competition in market and buyers have lot of choice to select with. Buyers have choice between conventional and electric, between different brands, etc. However, due to a strong competition and substitution the customer. 

• Bargaining power of suppliers

Comparatively low, as there are many suppliers in terms of automotive parts, batteries and other equipment. As Innovations happen more often on the side of the manufacturer than on the side of the supplying vendors. All these factors result in a comparatively low threat of suppliers.

Conclusion: according to 5 force analysis, it can be concluded that the industry faces many challenges in terms of competition and customer loyalty. It is difficult to survive in the industry without constant innovation and development. Hence product should be such that sustains in the market.

 

Primary research data

Findings from primary survey

 

In the primary research it was seen that people have good knowledge about the effects of conventional vehicles on environment.

It was seen that people are willing to purchase electric vehicles.

Environmental effects, low noise, low maintenance were some important factors due to which people are willing to buy an electric vehicle.

Limited range, long charging time, high price, lack of infrastructure, lack of trust on new technology are the main hurdles that people feel must be overcome to increase the sales of EVs

Conclusion: if the hurdles mentioned by the potential consumers will be overcome that the product will be hit in the market.

Unique tech development

 Dual battery system:

Dual battery system was developed to overcome the problem of range and power. In this system there are two compact but powerful lithium ion batteries used, One primary and one secondary. Both the batteries can be charged and be kept for long range. Batteries are setup such way that while when one is in use other is recharged automatically. With this the range of the vehicle increases incredibly.

Self-rechargeable batteries:

This technology is designed to give higher power efficiency and to reduce the fuel (electricity) cost. As mentioned earlier there are two batteries and one get recharge while other in use. In this technology the mechanical power of the motor and kinetic energy of suspensions is used to recharge the batteries. When the motor rotates the wheel of the vehicle same time it also rotates the shaft of a mini power generator that generates DC power through rotational energy of the wheel and convers that energy into electric energy as a turbine does. And whenever the suspension is compressed, it also generated the energy and that energy is channeled to the generator which is again converted into electric energy. This is the same technology used in the conventional car batteries that are recharged when driver hits the breaks.

Digital touch screen display with Android OS:

Da mini smart screen with touchscreen technology will be installed in all vehicles so that it can be used in various IT purposes such as GPS navigation, answering the call, digital speedometer, charge monitoring, Bluetooth connection etc. Various application related to driving can be developed and be installed in this OS.

Anti-theft technology (biometric lock):

This is a unique technology where it can be made sure that only owner can start the vehicle. The vehicle will use biometric technology to start the vehicle. Only with the registered fingerprints, will the vehicle be started. This will ensure that no one else can start the vehicle. Here owner has to first insert the key and then the fingerprint sensor on the screen will glow where user has to keep his finger to start the vehicle.

Artificial Intelligence:

AI is the technology used in some of our vehicles to optimize the performance of the vehicle. It will detect the terrain on which vehicle is run and optimize the performance of the vehicle. It will optimize the use of energy by detecting the perfect power and range mix. It will also have smart economy mode to give the maximum range possible.

Products list:

Two wheelers

1. Eco SKUTI lite (lower range scooter)
2. Scoocity R125 (mid-range scooter)
3. Galaxity R200 (mid-range bike)
4. Bolt S180 (sports bike)

Three wheelers

1. Erick R250 (E-Rikshaw)
2. BlueBull 1T (loader mini tampo)
3. Knect R200 (E-cart)

Product description

Eco SKUTI lite

Eco SKUTI lite is an economical priced medium range scooter designed to fulfill the needs of electric choice for lower middle-class and middle-class customers. It is a light weighted efficient scooter designed for rough and tough daily use. The scooter is an optimal choice for people engaged in deliver services like Zomato, Swiggy, Dominos, etc.

Key Features:

Digital touch screen display with GPS navigation, anti-theft.

Price: 30,990 INR

Features:

 

Max speed: 60KM/hr.

Tires: tubeless

Motor Power: 500 W

Motor type: BLDC

Engine type: Triple Mode: Power, Manual, Motor Pedal Assist

Displacement: 125 cc

Load capacity: 90Kg

Gear box: CVT

Fuel efficiency: 75KM/charge

Battery charge time: 4-5 Hr full charge

Battery Capacity: 48 V, 12Ah

Total weight: 60Kg

Colors: Red, Black, Blue

 

Scoocity R125

 

 

Scoocity R125 is designed as stylish and modern looking e-scooter to cater the young population. It is a perfect combination of style, range, power and performance. Its uses dual battery technology which is self-rechargeable giving longer range in a go.

 

Key Features:

Digital touch screen display with GPS navigation and android OS, Self-rechargeable, Dual battery, anti-theft.

 

Price: 70,990

 

Features:

Max speed: 90 KM/hr.

Tires: tubeless

Motor Power: 4500 W

Motor type: BLDC

Engine type: Triple Mode: Power, Manual, Motor Pedal Assist

Displacement: 150 cc

Load capacity: 150 Kg

Gear box: CVT

Fuel efficiency: 125 KM/charge

Battery charge time: 4-5 Hr full charge

Battery Capacity: 48 V, 12Ah

Total weight: 100Kg

Colors: Silver, Matte Black, Grey, Matte Blue, Mystic Gold, Pristine White

 

 

Galaxity R200

 

Galaxity R200 is a powerful 175cc bike with unique features like anti-theft, digital display, futuristic design, self-rechargeable batteries. The bike is designed to high range as galaxy, hence the name Galaxity. No other bike in same price range offers such commendable range and power. It is the perfect combination of power and excellence.

Key Features:

Digital smart touch screen display with android OS and GPS, Self- rechargeable, futuristic design, anti-theft, AI.

Price: 85,450/- & 50,450/-

Features:

 

Motor power: 1500W

Brakes: Disk breaks

Range: 200 KM/ charge & 100 KM/charge

Motor type: HUB mounted

Battery charge time: 4.2 hrs

Transmission: automatic

Load capacity: 150 Kg

Total weight: 110 Kg

Tyre: tubeless

Displacement: 175 cc

Top speed: 120 KM/Hr

0-100 km/Hr.: 7.4 Sec

Color: Sporty Red, Sporty White

 

 

Bolt S180

 

Bolt S180 is a sports bike designed for the thrillers who cares for nature too. Its is a full pack of energy, power, efficiency and toughness. It is built for speed with its high-performance liquid cooled electric motor.

Key specs:

Speed 180 KM/Hr., liquid cool engine, self-rechargeable batteries, sporty design, anti-theft, AI

Price: 5 lakhs

Specifications:

 

Motor power: 150 KWatt

Brakes: Disk breaks

Range: 80 KM/ charge

Motor type: IPM liquid cooled 150kw+ 10,500 rpm electric motor

Battery charge time: 4.2 hrs

Transmission: automatic

Load capacity: 150 Kg

Total weight: 200 Kg

Tyre: tubeless

Displacement: 250 cc

Top speed: 180 KM/Hr

0-100 km/Hr.: 5.4 Sec

Color: Sporty Red, Sporty White

 

 

Erick R250 (E-Rikshaw)

Erick is an electric auto rickshaw with various features to satisfy the owners and customers of the auto drivers. It is designed to give an overall customer delight experience to the service users. All of it at a very affordable price. Erick uses the solar power to charge its secondary battery while primary is in use, also the secondary battery is recharged by the mechanical power of the wheels.

Key features: 

Long range, Dual battery, cell phone charger, self-rechargeable, Digital LCD screen with android OS, WiFi connectivity, solar powered auto, Reverse gear, anti-theft.

 

Price: 2.6 lakh

 

Features:

 

Top speed: 50 Km/Hr.

Range: 250 Km/charge

Motor type: BLDC Direct Drive Motor

Battery charge time: 4-5 Hrs

Motor input voltage 48V DC

Load capacity: 500 Kg

Displacement: 200cc

Transmission: automatic

 

 

BlueBull 1T

This product is designed for industrial use. This is a mini tampo that can be used in factories to transport work in process inventory or in logistics industry to carry small loads with limited range. It is a perfect choice for in factory use as it can reduce the cost of transit inventories.

Key features:

Anti-theft, Dual battery, self-rechargeable, Digital LCD screen with android OS, WiFi connectivity, solar powered, radio-controlled operations, AI.

Price: 4 lakhs

Features:

 

Load capacity: 1.5 ton

Range: 160 KM/ charge

Motor: 3 Kwatt 60V Geared

Max speed: 40KM/Hr.

Displacement: 250cc

Climbing capacity: ≤ 20â—¦

Transmission: manual

Battery charge time: 4-5 Hrs

 

Knect R200 (E-cart)

Knect R200 is an e-cart which is designed for educational institutes, Golf courses, factories, etc. for people to travel from one place to another. As huge institutes with big campus have such E-Carts to travel across various parts. This is a very efficient cart with highest range in the market.

Key features:

Dual battery, self-rechargeable, Digital LCD screen with android OS, WiFi connectivity, solar powered, radio-controlled operations.

Price: 1.8 Lakhs

Features:

Speed: 25-30 Km/Hr.

Seating capacity: 6

Range: 200 KM/ charge

Motor:  Kwatt 60V Geared

Displacement: 150cc

Climbing capacity: ≤ 20â—¦

Transmission: manual

Battery charge time: 4-5 Hrs

Conversion of conventional vehicles into EVs

This will be an additional service provided to customers who don’t want to buy new vehicles but still want to save on fuel cost. This will fetch some additional income while maintaining the core business at the heart.

 

Marketing plan:

Since we have very few funds so we can’t use the expensive ways of advertising, hence here are some unique marketing solutions for the cost efficient and effective marketing.

Social media contest:

A contest where we’ll ask people to take a test ride and shoot a small video featuring our bikes and scooters and one lucky winner will win a scooter. This will encourage product trial and also increase awareness among customers. This will definitely increase the sales at very minimum cost. There will be only few online campaigns cost initially to promote this campaign.

GO Green, GO Velo marathon.

There will be a marathon sponsored by Velo motors for a social cause which will help in increasing brand awareness and also grab some good PR and media attention for Free.

Referrals

In this there will be a subsidy to those who bring their friends or others to buy EVs. Once a person buys a bike and brings his friend or relatives to get them one then the original person will get a service free or cashback coupon. Which can be redeemed while the service or to buy accessories.

These are some cost-efficient ways to increase footfalls in the store and also create brand awareness at minimum cost.

layers of product:

Core: Electric Vehicles, 

Basic: Quality, reliability, range, long lasting batteries, 

Expected: long range, fuel efficient, latest features, GPS navigation, good design

Augmented: AI, dual batteries, biometric lock, self rechargeable

management principles used:

product management

new product development

4 P's of marketing 

product mix

innovation management

layers of product

Research and development

Conclusion

Conclusion: 1. A strong product is key for self-marketing and customer loyalty, hence Velo motors has tried to give as much as features as possible at very competitive price. 2. Due to dual battery the power efficiency of the product increases and vehicle can go extra miles due to that. 3. Self-recharge technology will increase the range of the product and will also save cost of the consumer in long run. 4. Biometric key start is a unique feature that also looks trendy and tech savvy which will attract more people to buy the product. 5. Digital touch screen is another USP that will attract people to purchase the product. 6. The marketing plan mentioned above are unique and cost effective, if applied properly can save a lot on marketing expenses yet deliver results.

Attached File Details