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Executive Summary

Go GreenBOV was started in 2007 of ACTD to reduce Indias Carbon footprint and provide
cleaner and cleaner technology for the next generation. It has commenced its operations in India
in the year 2007 with Indian headquarters at Bangalore. It has a nationwide presence in 4
different districts of south India, with an employee base of 60 highly skilled professionals. The
company is expanding its employee base in India. The company has a loyal customer base all
over the company. The company manufactures battery operated vehicles for different segments
of society and is highly innovative in its approach with cutting edge technology for the first time
in India. The company has got its own factory and warehouse for manufacturing its vehicles and
storing the inventory. The clientele base would also have trust in the quality of products and
services offered by the company.
Electric vehicle industry in India is still at a nascent stage and is expected to grow by 45% in
2012. Electric Vehicle industry mainly comprises of electric two wheelers, electric three
wheelers and electric cars. The electric vehicle market is mainly dominated by electric two
wheelers with 97.5%b of EV market. More and more number of participants are entering EV
market with automobile firms launching Electric vehicle model of their conventional cars and
bikes. Also there is an increase in the number of mergers and acquisitions in the electric vehicle
industry. Most of the players in the electric vehicle industry operates in two wheeler segment
with only one major company operating in the electric car industry i.e. Mahindra and Mahindra
During the course of my internship in the Marketing Department, I was assigned the task
of carrying out market research on Electric Ride on Toys for kids/ Electric vehicles and
expanding the Dealer network and B2B network of company in Bangalore and other parts of
Karnataka and Tamil Nadu. The research showed that the Ride-on toy segment of electric toy
industry is in the introduction stage of product life cycle. The market is mainly dominated with
Chinese brands with only few other brands like BSA, Haolaixi, Home toys. The future of Ride-
on Electric toys looks bright but there are some factors like high price, product quality, security
concerns which may be a roadblock in the growth of Ride-on toy industry. For sale of electric
bikes I visted different Food delivery restaurants, courier guys, pharmaceutical companies,
supermarkets, florists and other home delivery guys and showcased our products to them. Then I
followed up with all the prospective guys in Bangalore and converted some of them as our final
clients. I also visited various corporate offices and showcased our products to them. The main
problem that Go GreenBOV is facing is that they donot have a dealership network outside of
Bangalore. So I did a tour of Karnataka and Tamil to find out prospective dealers in these areas.
For the tour I first did a research on which could be places where there could be maximum
potential for electric ride on bikes. We looked at various parameters like per capita income,
electricity availability etc and based on those parameters we decided the districts where we have
maximum potential for electric vehicles. Initially we looked at tire I cities only. After wards we
made the road map. I got some prospective dealers for Go GreenBOV from both Karnataka and
Tamil Nadu. It was a great challenge to get dealers in Karnataka and Tamil Nadu because of the
bad perception about electric bike industry in the minds of the customer and road conditions
which were not suitable for electric bikes. The study reports were presented to the management
which facilitated them in understanding the future prospects of Electric Ride on toys/Electric
Bikes in India and helped them in making strategies for expanding their business in different
parts of south India.
I was also involved in showroom selling of Go GreenBOV bikes and also meeting
government officials for showcasing our bikes to them. I prepared Collaterals for giving
presentation about Go GreenBOV and its products to different clients like IKYA etc. I also
helped company in finding data for prospective clients in Karnataka, Tamil Nadu and Andhra
Apart from the core project, I was also assigned in other marketing activities such as
Social Media activation of Go GreenBOV, promotional activities for Go GreenBOV, doing
competitive analysis for Go GreenBOV products, suggesting a suitable name for one of the Go
GreenBOV products and HR activities like carrying out placement drive for Go GreenBOV in
different colleges like Ramaiah University etc. Promotional activities included putting stalls in
different areas of Bangalore, distributing pamphlets through newspaper and also giving ads in
different online sites like IndiaMart, Grotal etc.
The internship opportunity has provided me with better learning and understanding of
Electric Vehicle industry (two wheelers, three wheelers) which has enormous future growth and
potential. The Internship opportunity has helped him in getting valuable sales experience which
will of great help in my future endeavors. In Go GreenBOV I got an opportunity to work in
multicultural teams

Part A My Company Profile

A1. Description of the Internship

Title of the Project :
Assessing the market potential of
Electric bikes

Name of the student :
Bidyut Ray
Name of the IIP Company :
Go GreenBOV
Location :
Department :
Marketing Department
Name and address of the

Industry Mentor :
Mr. Dhivik Reddy

Executive Director

Marketing Department

# 123/49, East End, 3
C Main, 100 ft
Ring Road

JP Nagar 3

Bangalore 560100.
Industry mentors number :
+91 9731955559
Name of Faculty Mentor :

A2. Company Profile

Company Name : Go GreenBOV

Location : JP Nagar, Bangalore.

Annual Turnover : 33 cr

No of employees : 60

Segments catered : Home Delivery Restaurants
Courier Industry
Pharmaceutical Industry
Newspaper Industry
Hotel Industry
Educational Institutes

Market share : 4%

1. Industry Profile
The automotive industry in India is one of the larger markets in the world. It had previously been
one of the fastest growing globally, but is currently experiencing flat or negative growth rates.
India's passenger car and commercial vehicle manufacturing industry is the sixth largest in the
world, with an annual production of more than 3.9 million units in 2011. According to recent
reports, India overtook Brazil and became the sixth largest passenger vehicle producer in the
world (beating such old and new auto makers as Belgium, United Kingdom, Italy, Canada,
Mexico, Russia, Spain, France, Brazil), grew 16 to 18 percent to sell around three million units
in the course of 2011 and 2012. In 2009, India emerged as Asia's fourth largest exporter of
passenger cars, behind Japan, South Korea, and Thailand. In 2010, India beat Thailand to
become Asia's third largest exporter of passenger cars.
As of 2010, India is home to 40 million passenger vehicles. More than 3.7 million automotive
vehicles were produced in India in 2010 (an increase of 33.9%), making the country the second
(after China) fastest growing automobile market in the world in that year. According to the
Society of Indian Automobile Manufacturers, annual vehicle sales are projected to increase to 4
million by 2015, no longer 5 million as previously projected.
Status of automobile industry in 2013-14:
A total of 2,968,201 vehicles were sold in India during the first two months of the financial year
2013-14, thus registering a feeble decrease of 0.64% as against same period of 2012-13. The
sales stood at 2,987,438 in April-May for 2012.
One of the key highlights of the year so far is the dip in sales of LCV Trucks by 2.38% as against
the previous year. Slight growths were registered in two and three wheelers while the other
segments posted declines. In terms of production two wheeler production increases by 18.10%,
while passenger vehicle segment decreases by 10.25%. The two wheeler export segment is
forced down to 16.50% due to weak demands while commercial vehicle suffered further blow as
their exports decreased by 19.47%.

Production: April May FY 2013-14
So far in this financial year, a total of 3,422,144 vehicles were produced which is 3.14% less
than what was during the same period in 2012. The production of three wheelers had increased
by 18.10% and commercial vehicles by 6.64%. Meanwhile there is a decline in the production of
passenger vehicles during the April-May period of 2013 as against the same period 2012. Two
wheeler production has also decreased by 2.97%.

Figure1: Domestic Sales
Two Wheeler Market in India
According to Care research it is estimated marginal improvement in the economic scenario and
expects the industry to grow by around 8-9 per cent in FY14.The motorcycle segment that has
been mainstay for the industry since last two decades, has been witnessing slowdown in growth
levels during past 4-5 years. For FY13 motorcycle demand growth remained around 1 per cent
for first eleven months. Impact on income levels in urban areas owing to slowdown in industrial
and service activities has strained the demand for motorcycles in FY13. Furthermore, growing
popularity of ungeared scooters has also added to the woes of the motorcycle manufacturers.
CARE Research foresees it would be difficult for the segment to retain the strong growth levels
it has witnessed in past one decade owing to rising pressure due to substitution by scooters.

Figure 2: Two Wheeler sales
Ungeared scooter likely to remain growth engine in near term, the ungeared
scooter segment has been witnessing robust growth trend since last 4-5 years. The
scooter manufacturers which initially targeted working women population have
off-late expanded their customer base by launching products catering to male
buyers. For example, new models like HMSI Aviator, TVS Wego, Suzuki Access,
Mahindra Rodeo, etc. has been able to lure considerable proportion of middle and
upper middle class male buyers (primarily in age bracket greater than 35 years) for
second vehicle. Hence, inspite of the current challenging scenario, ungeared
scooter segment has been able to grow by 16 per cent during April-February period
of FY13. CARE Research foresees, scooter segment to remain the growth engine
for two wheeler industry in near to medium term period.
Two wheeler industry likely to register a growth of 8-9 per cent in FY14. CARE
Research estimates marginal improvement in the economic scenario and expects
the industry to grow by around 8-9 per cent in FY14. The growth would be aided
by moderation in inflation post first half along with the assumption of normal
monsoon season. The motorcycle segment is likely to grow in a range of 6-7 per
cent in FY14. The scooter segment is expected to remain the growth driver and is
estimated to observe a growth of around 13-14 per cent for FY14. CARE Research
foresees, demand from rural and semi-urban areas would drive the two wheeler
demand growth in near to medium term period.
Electric Vehicle
Today India is one of the top ten automotive markets in the world and given its burgeoning
middle class population with buying potential and the steady economic growth, accelerating
automotive sales is expected to continue. In the last couple of years, there has been a lot of
discussion around the prices of fuel apart from the deregulation of petrol prices. The potential
for alternative technologies in automobiles such as electric vehicles (EV) in India, as in the case
of many other comparable markets, depends on improved battery technologies, driving ranges,
government incentives, regulations, lower prices and better charging infrastructure.

97.50 %
2.50 %
Two Wheeler
Three Wheeler
The Indian electric vehicle industry
mainly consists of electric two
wheelers, three wheelers and
electric four wheelers. The
industry is mainly dominated by
two wheelers with 97.5 % share in
the total electric vehicle segment.
There are lot of emerging players
in two-wheeler industry but only
one major player in electric car
Figure 3: Distribution of electric vehicle market
There are many players in the electric two wheeler segment but only one dominant player in the
electric car segment. In southern part of India the market is very fragmented with all the
companies relatively new in this field. The major players in Electric two wheeler segment in
southern part of India are Amphere, Go GreenBOV and John Motors. In northern part of India
the major players are Yo Bikes and Hero Electric
At present the demand for electric vehicles in India is very small. Only 1% of two wheeler
market in India is electric two-wheeler and 2-3% of car market is E-car market. Many analysts
have the opinion that electric vehicles lack the practicality and luxury that petrol/Diesel vehicles
have been able to offer

Electric Vehicle market in India
The EV market is estimated to grow 50 times
from 1 Lac unit sold in 2009-10 to 4-5 million
units by 2020 .EV two-wheelers have seen a
recent reversal of fortunes, 26000 vehicles in
2008-09 to around 3000 in 2009-10. The growth
of market is mainly driven by factors like
increasing fuel prices

Figure 4: Electric and hybrid vehicle market Size
Only 1% of two wheeler market in India is electric two-wheeler and 2-3% of car market is E-car

The market share of electric and hybrid vehicles is expected to increase at a tremendous pace in
The below table shows the key drivers and challenges in electric vehicle market

- Increasing Crude oil prices
- Low maintenance cost
- Increasing demand for green
vehicles in foreign market
- Manufactures providing
incentives to attract customers

- EVs to move from concept to
daily use
- High price
- Lack of supply of spare parts
- Government Initiatives
- Charging infrastructure
- Lack of optimum business

Figure 6: Electric vehicle share of retail market
The petrol prices in India are increasing at a tremendous pace and expected to reach 100 by
2015.So rise in petrol price may result in increase in sales of electric vehicles in India. Also
electric vehicles are maintenance free since there are no moving parts inside the vehicle. But
there are some challenges that the electric vehicle market is facing today. At present India lacks
infrastructure to support mobility of electric vehicles in India. There are hardly any charging
stations in India to support electric vehicles in India. Also there is no support from government
in the form of rebate in excise duty etc to help in growth of electric vehicle industry in India.
Pros and Cons of EV
People who buy EVs are well aware of the features and how to use it
They are upscale customers and the EVs are used as a second or third vehicle in the
Second car market is developing among the elite families, and women show a preference
to EVs due to easy handling
Dealer network is getting developed (post acquisition by Mahindra in the case of Reva)
Public perception on EVs is that its an under powered vehicle at higher cost
The comparison done is directly against a high performance petrol car (which should not
be the case)
Efficient batteries usage and Charging know-how to End-Customers is the need of the
The design of the vehicles are so toyish that one cant be proud of owning an EV
Lack of spare parts and good skilled technicians for maintenance purpose
Very less localization of EV components (motors controllers and batteries esp. Li-on, are
imported from China, Taiwan & USA)