PROJECT SYNOPSIS

ON

“A STUDY OF EV MARKET IN INDIA”

Submitted By
RAVUTLA REHA BABU
ROLL NO:094225010694

Under the supervision of

DR. SRIKANTH

Submitted in partial fulfilment of requirements for qualifying

MBA

PROF.G.RAM REDDY CENTER FOR DISTANCE EDUCATION

(Recognised by the Distance Education Bureau, UGC, New Delhi)
Osmania University, Hyderabad-500 007, Telangana State, INDIA
Contents

1. Introduction for the study

2. Need for the study
3. Objectives of the study
4. Scope of the study
5. Period of the study
6. Research Methodology
7. Limitations of the Study
8. Chapter Plan
9. References
 1. Introduction
An EV is a shortened acronym for an electric vehicle. EVs are vehicles that are either
partially or fully powered on electric power. Electric vehicles have low running costs as
they have less number of moving parts for maintaining and also very environmentally
friendly as they use little or no fossil fuels (petrol or diesel). While some EVs used lead
acid or nickel metal hydride batteries, the standard for modern battery electric vehicles
is now considered to be lithium ion batteries as they have a greater longevity and are
excellent at retaining energy,

There are four types of electric vehicles available:

 Battery Electric Vehicle (BEV) : Fully powered by electricity. These are more
efficient compared to hybrid and plug-in hybrids.
 Hybrid Electric Vehicle (HEV): The vehicle uses both the internal combustion
(usually petrol) engine and the battery-powered motor powertrain. The petrol
engine is used both to drive and charge when the battery is empty. These
vehicles are not as efficient as fully electric or plug-in hybrid vehicles.
 Plug-in Hybrid Electric Vehicle (PHEV): Uses both an internal combustion engine
and a battery charged from an external socket (they have a plug). This means the
vehicle’s battery can be charged with electricity rather than the engine. PHEVs
are more efficient than HEVs but less efficient than BEVs.
 Fuel Cell Electric Vehicle (FCEV): Electric energy is produced from chemical
energy. For example, a hydrogen FCEV.

For the past century, oil has been the dominant power source of the transportation
industry all over the world. In the years to come, demands for oil are expected to
expand and oil will gradually become an unaffordable commodity in the world
economy. This challenge presents us an opportunity to adopt a more economical,
environmentally sound, and dependable source of energy for transportation. Among
the available forms of alternative energies such as solar, wind, hydrogen fuel cells, and
electricity, the increasing momentum of using the latter to power the transportation
industry has gained widespread and growing supports nowadays, mostly in the form of
battery electric vehicles. EV has shown its great potential to conventional vehicles in
the reduction of greenhouse Gas emissions. Research shows that replace conventional
vehicles to electric vehicles can save 1.5 tons of CO2 per year which were produced by
conventional cars. This is very important considering road transportation is one of the
most significant sources of both air quality and climate pollutants. Some of researches
prove that using EVs can greatly reduce air pollutant emissions. With well- designed
grid, EVs could achieve better performance. Besides, EV actually can bring other goods
to the environment, such as reducing noise made by conventional cars considering EVs
are significantly quieter.

The shift from IC engine vehicles to EVs is underway in India, which has outlined EVs
to account for 30% of its mobility requirements by 2030. This domestic industry
momentum is being driven by the FAME scheme, state subsidies and a growing
portfolio of products across vehicle sub-segments across India.
Increasing consumer awareness about the need to use eco-friendly transport and the
wallet-friendly nature of EV cost of ownership over the long run is proving to be a big
catalyst to adoption of electric mobility. This, even as the private sector chips in by
setting up new EV charging infrastructure across the country.
Given the Union Budget 2023’s focus on this segment of the automobile industry, the
increased allocation of the FAME II subsidy should help accelerate sales of EVs. The
transition of consumers towards electric mobility for personal use as well as B2B
operations is on the upswing. Last-mile delivery operators and the e-commerce
industry, particularly in urban India, are now banking on electric cargo vehicle to
deliver the goods in a cost-efficient manner.

Furthermore, recognising the huge business potential, component manufacturers

are fast upping the ante on localising EV parts, either through full ground-up
development or through technology licences. This will lead to enhanced optimisation
of costs and in turn EV affordability.

What is benefiting EV buyers, particularly in the two-, three- and four-wheeler

segments, is the growing product basket. Greater choice in the marketplace offers a
multiplicity of choice to EV buyers and also creates healthy competition, which is a
win-win scenario for India EV Inc.

2. Need for the Study

To overcome pollution and avoid exhausting natural vehicles for transportation, the
swapping of electric vehicles seems to be the best option. But it’s not only going to be
a reason. The crude oil is going to be dry sooner. If this situation happens, our current
Internal Combination vehicles will no more useful. Already Geological Researches from
several countries warned it before and some of them confirmed with the activities of
nature. So, an alternative fuel for our vehicle at least for our transportation should be
planned. Some of the other needs:
There are no emissions:

Electric automobiles are being developed primarily because they do not emit any
pollution when driving. An electric vehicle is propelled by a battery-powered electric
motor. There is no burning of fuel. An electric vehicle does not have an exhaust system.
It's the best road transportation solution at a time when global CO2 emissions and air
pollution must be drastically cut.
Access to city centres is unrestricted:

Aside from the fact that more cities are implementing LEZs, these zones are also
growing in size and strictness with time. With an electric car, you have limitless access
to low-emission zones, now and in the future, wherever and whenever you want.
Electricity is less expensive than gasoline:

Electricity is less expensive than gasoline and fuel. In this regard, an electric automobile
is less expensive than a car with a combustion engine. The most cost-effective solution
is to charge at home.
Comfortable and quiet:

Unlike a combustion engine, an electric motor produces very little noise. As a result,
the silence inside an electric vehicle is unmistakable. Additionally, unlike a combustion
engine, an electric motor does not produce any vibrations or resonance. The vibration-
free and silent drivetrain adds to the relaxation.
There's no need to switch gears:

An electric automobile does not have a traditional gearbox, which is another key
distinction from a car with a combustion engine. An electric car always works like a car
with an automatic transmission, which eliminates the need to shift gears. You also don't
have to pay more for it. Driving in busy start-stop traffic in the city or traffic congestion
has never been more comfortable, thanks to the quietness of an electric motor.
Torque on the fly:

The incredibly high torque of an electric motor is a distinct feature. Much more
powerful than a typical internal combustion engine. Furthermore, an electric motor
responds rapidly to throttle motions and generates peak torque right from a standstill.
Internal combustion engines have an unavoidable response time and can only generate
maximum torque in a specific speed range. All of this assures enticing performance
thanks to the smooth and powerful acceleration, as well as a great deal of driving
pleasure.
Extremely effective:

At the moment, the most efficient combustion engines have an efficiency of around
40%. That means they only put 40% of the energy in the fuel into motion. Heat and
friction account for the remaining 60%.
An electric motor has a 90 per cent efficiency, which means it uses the battery's energy
far more efficiently. Furthermore, because an electric motor can be transformed into a
generator in the blink of an eye, an electric car can swiftly recover kinetic energy.
Requires less maintenance:

Electric drivetrain technology is much simpler than that of a combustion engine.

Because only a few sections need to be lubricated, it has far fewer (spinning) parts and
fluids. So, as you may have guessed, an electric vehicle requires less maintenance.
Generate your power:

Having your oil refinery in your garden to make your auto fuel is impossible. It's hardly
unexpected, though, that you can create your electricity. For example, solar panels on
the top of your home or office building can provide energy. You may further lower your
kilometre cost by charging your battery with this renewable energy.

3. Objectives of the Study

 To get an insight knowledge about future of Electric Vehicles in Indian Markets
 Understanding the different aspects of the Electric Vehicle Industry and its
working
 To analyse the comparative study between Electric and fuel operated vehicles.
 To gain knowledge about the various policies launched by government towards
Electrification of the Vehicles
 To know the customer preferences, satisfaction and shift to electric vehicles.
 To analyse the advantages and disadvantages of electric vehicles
 To analyse the obstacles of speed growth of the market
 To analyse government initiations and Policies for the growth of industry

4. Scope of the study

Study of Indian EV Market size and Share, Important factor driving factors for the
market growth, Study the Advantages and Disadvantages of EV, Technologies, Major
Players, Major bottlenecks for speedy growth Challenges for the transition to Electric
Vehicles, Infrastructure for charging e-vehicles, Eco system, Cost factors, Influence on
employment, Government Policies and initiations by its agencies, problems faced by
users and customer voice. competitive status of key players within the forecast timeline
while focusing on their portfolio and regional expansion, market dynamics scenario,
along with growth opportunities in the years to come. We finally conclude with how India
could implement and benefited by appropriate strategies at the local as well as national level

5. Period of the Study

The study will conducted for a period of 2 months starting from 01-07-2023 to 31-08-
2023.

6. Research Methodology
The main purpose behind the study is to understand the market and its dynamics, wants
and needs of the consumers and their buying behaviour.
Primary Data:
The first-hand data will be collected by us through various sources, sources of primary
data are the sampling units chosen.
Sample Size:
40-60 Members from Hyderabad region
Tools & Techniques:
Interview Method: A questioner of 16 Questions will be prepared for which appropriate
options are to be made for respondents to select from. Further a direct or mail will be
used to fill the questioner.
Secondary Data:
These are second hand readymade data collected by some other agency and
researchers. Source could be external or internal records. The secondary data gives all
information which is unavailable in primary data.
Sources of Secondary data:
Internet, journals, Newspapers, websites related to EV, e-amrit, Autocar etc.

7. Limitations of the study

 The study is limited to cover Indian EV Market only

 The study uses the data to be collected from respondents through survey. The
data collected are then analysed to get results. The results can change according
to the size of the sample i.e., the number of people allotted to answer the
questions. The size of the sample here is 40 respondents. when the sample size
increases the results probably might also vary. The study identifies and analyses
 only few factors which Important to electric vehicles users in India whereas there
might be many other factors that will also have an effect on the Preferences of
electric vehicles users. leaves a research gap as there are factors that need to be
taken into consideration on a later period.

 Majority data will be collected from Internet, trusted websites and researcher.
The quality and accuracy depend on the data available with these sources.

8. Chapter Plan
CHAPTER 1: INTRODUCTION
This chapter consists of the introduction to the study, the need, scope and objectives
of the study along with its limitations and also includes the chapter framework of the
study.
CHAPTER 2: REVIEW OF LITERATURE This chapter consists of research paper of Authors
who have conducted detailed research study into the market of Electric vehicles in
India.
CHAPTER 3: RESEARCH METHODOLOGY This chapter consists of research design,
methods of data collection, types of research, sample size, period of study
CHAPTER 4: DATA ANALYSIS AND INTERPRETATION This chapter consists of analysis of
the data which was collected through the questionnaire and percentage analysis are
the statistical tools that have been used to analyse the data
CHAPTER 5: FINDINGS, SUGGESTIONS AND CONCLUSIONS This chapter consists of the
findings, suggestions and the conclusions of the study.

9. References
The various websites used for the purpose of studying and research could be: -
1. The Times of India: https://timesofindia.indiatimes.com/
2. https://e-amritniti.gov.in/,
3. Niti Ayog: http://niti.gov.in/
4. Wikipedia: https://en.wikipedia.org/
5. FAME: https://fame2.heavyindustry.gov.in
6. Autocar: https://autocarindia.com/
7. Some of the Researchers information