Top 10 Electric Car Business Opportunities In India: Since automakers began concentrating on hybrid automobiles, electric cars have taken over the automobile industry. The world’s leading automobile producers have already stated their intentions on electric mobility. Electric vehicle use is increasing, which means new market prospects for electric vehicle manufacturers.
The following are few business strategies for pioneers in the world of electric cars. This collection of electric vehicle market prospects will assist EV enthusiasts in starting their own company in the rapidly increasing world of electric vehicles.
Top 10 Electric Car Business Opportunities In India
No 1. Electric Vehicle Charging Station
Another electric car-related business opportunity is the EV charging station. Electric car charging stations can be developed and installed according to the values accepted in the region where it is mounted. Home-based charging stations, private charging stations are other openings in electrical car-related industry.
- The current technology of battery packs used in electric vehicles is limited by range.
- This is the main drawback of any electric vehicle.
- Hence, electric car charging stations are being set up everywhere to make charging electric cars more convenient.
No 2. Electric Vehicle Servicing Station
The operation of an electric vehicle differs significantly from that of a vehicle powered by an internal combustion engine. The maintenance workshop will provide services such as electric motor repair, inverter repair, and so on. Also, these service stations require specialized equipment and a well-trained workforce.
No 3. Electric Vehicle Charging Station Management
It will be a lucrative opportunity to operate and manage electric vehicle charging stations. When the number of charging stations grow, so do the possibilities for launching and managing a full charging station management system.
- It is possible to mount a group of various charging stations together, with localized repair and maintenance being the best option.
- People are still unfamiliar with how to use electric car charging station facilities and will need assistance on the first few occasions they do so.
No 4. Home Charging Station Set-Up Service
For certain electric vehicles, level 1 chargers are included. Level 2 chargers, on the other hand, aren’t necessarily readily accessible. They are, however, needed in order to charge an electric vehicle quickly. A home charging station installation service can be turned into a profitable enterprise.
- Setting up a home charging station needs specialized equipment and installation by a professional.
- These services would be needed and are readily available.
No 5. Electric Vehicle Battery Manufacturing
In almost 5 to 10 years, battery replacement is needed in electric vehicles. If the number of electric vehicles (EVs) grows, opening an electric car battery sales shop will be a lucrative venture. These batteries are lithium-ion and they are usually manufactured by some third-party organization.
No 6. Electric Car Spare Parts Manufacturer
As wear and tear are bound to happen in any machine, spare parts must be manufactures for electric vehicles also. Manufacturing high-quality parts for electric cars which are reliable and affordable will become essential as more and more people are buying electric vehicles.
No 7. Electric Car Spare Parts Seller
As spare parts need to be manufactured, they also need to be distributed through sellers. These parts must be affordable and easily available to support the change from internal combustion to an electric vehicle. The retail shop which sells genuine spares can be set up.
No 8. Electric Car Washing Station
Every car requires a good wash from time to time. Although the battery packs installed in the electric cars are water-resistant and dust repellent, some precautions, and safety must be taken while washing them. Electric car washing may be implemented as part of existing car wash facilities. This is a new addition to the electric vehicle market possibilities.
No 9. Mobile Electric Car Repair Service
It will be beneficial to have electric car service stations available near where the car breaks down. Anyone who is familiar with electric car maintenance will quickly establish a company and support it through commercials. Mobile service stations are convenient and very helpful in case of emergency.
No 10. Electric Car Franchise/Reselling
As the number of electric vehicles (EVs) is the electric car franchise and reselling businesses have a promising future. The finest automobile manufacturers around the world have also begun to produce electric vehicles. Electric vehicles have the potential to be resold and franchised
Wrapping Up (Top 10 Electric Car Business Opportunities In India)
The demand for electric vehicles is expanding, and there are many business opportunities. A few companies that can be started with electric cars have been mentioned and addressed. The market concepts mentioned below may be applied individually or in combination. Washing and bodywork on electric vehicles, for example, maybe started simultaneously.
If you have plans for any such corporate ventures our list will surely help you in selecting the perfect venture in the electric car world.
- How can I start an electric car charging station in India?
Dealership Requirements for Electric Vehicles:
A showroom spanning 1500-2000 square feet. You’ll need a five-bay service room. To bring a month’s worth of goods, they’ll need a yard. The need to buy a month’s worth of inventory. You will get a loan from a bank to buy assets, with the stock as leverage.
- Which companies will benefit from electric cars in India?
All major car manufacturers, as well as the major spare parts manufacturers, will benefit from electric cars.
- How do I become an electric car dealer?
Franchisees will begin with a Rs 20-40 lakh investment for 50-100 EVs at Rs 40,000 per car. To handle 100 EVs, only a couple of people are needed.
- Is there any subsidy on an electric car in India?
The Indian government has unveiled a scheme to fund 15.62 lakh electric vehicles by subsidies in order to improve electric mobility in the region.