Research Project On Electric Bike

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1. INTRODUCTION Purpose and need of electric-bike? Economic conditions around the world have been very encouraging. Global growth which as 4.8% in 2005 reached 4.9% in 2006 and is expected to hover around this level in the current year also.While the Chinese economy is growing at around 10% without any signs of slow down, the Indian economy is also continuing to grow at more than 8%. In the coming years, I am expecting that the Indian economy will be booming owing to the heavy demand on infrastructure. Energy sector is growing by leaps and bounds as it is receiving the highest attention of both the State Governments and Central Government. India has moved from an agrarian economy to a manufacturing economy. The manufacturing sector now contributes around one-fourth of the total GDP and the industrial output has now crossed USD 65 Billion in value. Global steel production is continuing its growth and the production in 2006 crossed 1.2 billion ton mark. In spite of some control measures adopted by Chinese Government the crude steel registered an impressive growth and has crossed 450 million tons. India is also witnessing a huge growth in steel production and it is expected that steel industry will continue to grow by more than 12% per annum. Sustainable economic growth of India as well as rest of the world will depend on effective energy planning. Nearly 40% of the world’s energy comes from petroleum. Natural gas contributes to another 20% and these two natural resources account for 60% of the world’s energy. The growth in consumption of oil and natural gas in the past has been such that the consumption has been doubling every 15 years. This trend is likely to continue and will lead to complete depletion of natural resources in next 30 years.

It is significant to note that more than 20% of the world’s total primary energy is consumed in transportation. There are more than 410 million cars currently in the world and in another 20 years the automobile population will reach one billion mark. It is also significant to note that after 1970 the new oil discoveries have been very few and any new discoveries will not make any significant contribution to the world’s energy pool. Transportation sector which consumes a large share of energy resource of the country also contributes significantly towards pollution. We at Electrotherm have made it our mission to provide vehicles which are emission free, which do not use petroleum products and which are inexpensive to acquire and operate. Our launch of battery operated YoBykes has been highly successful and Electrotherm is now developing several new vehicles for the Indian market. Our launch in India has developed interest for our vehicles for international market also and in the future we will be exporting these vehicles to other countries. Electrotherm will continue to provide leadership in this segment by delivering innovative, cost effective, practical and environmental friendly electric vehicles.

Economic and environmental forces are frequently pitted against each other and many a times the financial cost of environmentally friendly technologies and goods is so high that one has to strike a balance or look for Government subsidies. Our Electric Vehicles are unique in this aspect as they are not only economical but also environment friendly. You will be pleased to note that the “2007 Overdrive Automotive Product of the Year” award was given to Yo-Bykes of Electrotherm.

2

OBJECTIVE OF STUDY Objectives Of The Study The objectives set for the study are – •

To find out the awareness of consumer about the electric bike in Raipur city.



To find out the reason why consumer refers to electric bike.



To find out the factor influencing the sales of electric bike.



What are the post purchase experiences of electric bike consumer.



To find out the market share of different manufacturing Companies dealing in electric bike.

RESEARCH METHODOLOGY The success of any event heavily depends upon the way chosen for its execution. This includes ensures of some basic question to the specific focus on constraints as well. In other words they can call the methodology as the backbone of any research. It also includes research or study method. Thus when they talk of methodology they not only talk of methodology they not talk of methods but also consider the logic behind the methods they use in the context of their study objective and explain way use are using them so that study results are capable of being evaluated logically.

Statement Of Problem: “A study various factors which influence the consumer perception towards electric bike - A study in Raipur City ”

Purpose Of The Study: The purpose is to study the perception of buyer and user towards Electric-bike in Raipur city.

Population: Population refers to the total of items about which information is desire. The attributes that are the object of study are referred to as characteristics and the units possessing them are called as elementary units. The aggregate of such units is generally described as

3

population. Thus, all the units in any field of inquiry constitute universe and all elementary units constitute population.

The population can be finite and in finite the population is said to be finite if it is consist of a fixed number of elements so that it is possible to enumerate it in its totality. An infinite population is which it is theoretically impossible to observe all the elements. The population is specific group of people, firms, conditions, activities etc. which forms the pivotal of research for developing and using a sample, it become primary duty of a researcher to define the population from which to draw the sample. Population – To achieve the objective the city of Raipur was selected.

Sample: The sample is the representative unit of population. The researcher has taken the consumer as sample for this research. Since in this research the researcher has collected the sample according to his own convenience. So the sample is stratified proportionate sample and the sample size of the research is 30. This refers to number of items to be selected from the universe to constitute a sample. The size of the sample should neither be excessively large, nor too small. It should be optimum. An optimum sample size is one, which fulfills the requirement of efficiency, representativeness, reliability, and flexibility.

Sampling Method In this research the stratified proportionate Sampling Method has been used. In this method the population is divided into several sub-populations that are individually more homogenous than the total population(the different sub population are called “strata”) and then we select items from each stratum to constitute a sample. In other words, under this sampling the organizers of the inquiry purposively choose the particulars unit of the universe for constituting a sample on the basis that the small mass that they so select out of a huge one will be typical or representative of the whole. Here the total population i.e. the total number of consumer in raipur region is 300 it is divided in the following four stratas 1. Working women………. = 90 2. Working men………….. = 30 3. College going girls……. = 130 4. College going boys…… = 50 Thus for strata with N=90 We have p = 90/300 =0.30 And hence n =0.30 * 30 = 9 Similarly for strata with N = 30 we have p = 30/300 = 0.10 And hence n = 0.10 * 30 = 3 And for strata with N = 130 we have p = 130/300 Hence n = 0.43 * 30 =13

4

And for strata with N = 50 we have p = 50/300 = 0.16 Hence n = 0.16 * 30 = 5

Sample Plan: Sample Unit

4

Sample Size

30

Geographical area covered Sample ratio

Raipur 1:10

Data Collection: The task of data collection begins after a research problem has defined. Researcher should keep in mind two types of data, primary data and secondary data. The primary data are those, which are collected afresh and for the first time, and thus happen to be original in character. The secondary data, on the other hand, are those which have already been collected by someone else and which have already been passed through the statistical process. Both, primary data and secondary data were used in accomplishment of objective of the research.

2.7

Questionnaire:

The term questionnaire refers to a self-administered process whereby the respondent himself/herself reads the questions and records his/her answers without assistance of an interviewer. Although the instrument is essentially question asking and data gathering tool. A questionnaire is more structured and standardized. The questionnaire consists of a number of questions printed or typed in a definite order on a form or a set of forms. This method of data collection is quite popular in case of big enquiries.

2.9

Delimitation:

There is some specific delimitation in the study they are:1. The generalization of data is subjective to the population of Raipur city. 2. The generalization of finding is subject to the accuracy of data provided by the respondents.

5

LITERATURE REVIEW company’s vision of electric-bike. COMPANY’S VISION Vision:

A world class engineering major, catering to manufacturing and metallurgical sector along with leadership in electric vehicles. Core Values:

• Business ethics • Customer Focus • Professional pride • Mutual Respect • Speed and innovation • Excellence in manufacturing • Total quality Corporate Mission:

Develop and provide reliable metallurgical equipment, products and services at competitive prices, integrating best manufacturing practices and providing innovative and eco friendly technologies and products for the benefit of the society. Corporate Objectives: �Business Portfolio Growth:

o To further consolidate Electrotherm position as a leading supplier of metallurgical equipment in national and international market. o To grow its engineering capabilities by providing turnkey solutions to the customers and implement projects from concept to full commercialization. o To diversify across the electric vehicle business to become a leading player in battery operated vehicles in the country. o To establish a strong product and services brand in the domestic and international market. � Customer Focus:

o To develop a special relationship with customers to ensure not only customer delight but customer success. o To expand the relationship with existing customers by offering additional services in engineering, energy conservation strategies, environment protection technologies and best operating practices. o To expand the customer base by providing them with newer products. 6

o To use customer feedback for design improvement and new product development.

� Dynamic Corporation:

o To develop an agile and effective organization which adopts and adapts to the changes in business environment by continuously assessing the opportunities and encashing them and evaluating the threats to mitigate them. o To develop a learning organization having technology based competitive edge in current businesses and future initiatives. 21st Annual Report for the year ending March 31,2007 � Performance:

o To continuously improve the performance with emphasis on cycle time reduction and cost control in order to sustain long term competitiveness. o To improve on project execution time and cost to ensure long term viability. o To operate and maintain the manufacturing facilities at par with the best-run engineering and metallurgical companies in the world with respect to productivity, equipment availability, operational reliability and product quality. o To achieve quality by embedding the best practices in all systems and processes. � Human Resource Development:

o To enhance commitment of employees by rewarding and recognizing superior performance. o To imbibe a culture of team building, innovation, empowerment and openness in order to align all individuals towards the company’s goals. o To build and sustain a learning organization of competent world class engineers and professionals. � Financial Soundness:

o To continuously strive to reduce cost of capital through prudent deployment of funds. o To develop sound commercial policies which ensure reasonable returns and remuneration

� Environment Protection:

o To contribute to reduction in global warming and pollution by encouraging and developing environmental friendly technologies and products. o To become a lead player in developing electric and hybrid electric vehicles which not only lead to cleaner cities but also will reduce consumption of liquid fuel which is largely imported by the country. � Research & Development:

o To continue efforts in developing cost effective, reliable and efficient technologies for Indian and overseas customers. o To pass on the benefit of Research & Development to the customers. o To carry out research in development of alternate fuels and technologies 7

Profile of electrotherm which is major manufacturers of electric bike. BOARD OF DIRECTORS

Mr. Mukesh Bhandari

:

Chairman

Mr. Shailesh Bhandari

:

Managing

:

Whole Time

:

Whole Time

Director Mr. Harish Sharma Director Mr. Narendra Dalal Director Mr. Avinash Bhandari

:

Whole Time

:

Director

:

Director

Director Mr. Naveen Nakra Mr. Nilesh Desai Mr. Madhusudan Somani

:

Director

Mr. Ram Singh

:

Director

Brig. Pradeep Krishna Prasad

:

Director

1.3 What is electric-bike?

Y0-BYKE runs on Battery and is the most economical two-wheeler in the world. Cheapest to buy, cheapest to run and cheapest to maintain! I have extensively tested model Y0-SMART and I am very happy with it and highly satisfied. I have driven it double seat (120 kg), and it climbed a 20 degree slope double seat. On the steep slope, the speed 8

dropped to FIVE km per hour, but Y0-SMART climbed the full slope on its own. For a Y0bike that costs less than the cheapest petrol scooter, having Self-start, almost zero maintenance cost and almost zero running cost, and totally zero fear, this performance is FANTASTIC. This top model Y0-SMART costing 29,000/- is the best and most socially acceptable model. It has some lockable space under the seat to keep your stuff. It is very comfortable. People won’t even know that it is an E-bike or Y0-BYKE. There is no selfstart button. Just insert the key and turn it, and twist the accelerator. The bike will move absolutely silently. You won't even know.

I have also extensively tested Y0-TUFF, the cheapest model costing 17,500/-. It has a beautiful, comfortable seat, excellent brakes, excellent headlight beam, shock absorbers in front and ideal for school kids and such people whose day-to-day life is governed by bicycles. There is a large carrier at the back, but no clasp. Company is going to provide clasp soon. Since this model has pedals like bicycle, in case the charge in the battery is over you can easily pedal it like an ordinary bicycle. The pedaling effort is almost same as that in an ordinary bicycle and is very easy. I have actually manually pedaled it non-stop (single seat) over a distance of SIX km, and the effort required was exactly same as required in an ordinary bicycle. I have also actually pedaled LUNA moped and TVS50 moped, and found that pedaling effort required in Y0-TUFF is TWENTY TIMES LESS than the effort required in LUNA and TVS50 moped. This is because of three main reasons: <1>The arm-length of the pedals is same as ordinary bicycle, thus giving same mechanical advantage & velocity ratio as ordinary bicycle. <2>The seating geometry on Y0-TUFF is very ergonomic for pedaling. <3>The weight of YO-TUFF is much less than LUNA or TVS50.

Y0-Smart scooter Y0-TUFF model Ac harger is given free with each bike. I put it on charging every night and by morning it is fully charged and I ride whole day without any problem. Electricity required for charging is ONE UNIT, which costs Rs.3.75, for full SIX to EIGHT hour charge, which is almost like free of cost. In one full charge I have actually covered over 80 km on Y0-Smart. If you want to calculate cost of charging, then it comes to less than FIVE paise per km (Rs.3.75 divided by 80 km), which is much cheaper than any petrol driven motorcycle. Even if your petrol motorcycle is giving 80 km per liter of petrol which costs Rs.55/- per liter, your running cost comes to almost 70 paise per km. Thus Y0-BYKE running cost is FOURTEEN TIMES CHEAPER than the cheapest petrol motorcycle. Y0-BYKE is much cheaper than even bus fare. 9

front dicky of Y0-Smart

scooterY0-Smart dials

Petrol driven motorcycles and scooters need regular change of engine oil every 2000 km, which costs @ Rs.200/- per litre. In Y0-BYKEs, there is no such cost, which is further money saved. The petrol bikes also need regular maintenance like servicing, chainsprocket lubrication, spark plug cleaning and replacement, carburetor cleaning and many other things which cost money. Y0-BYKEs need no such maintenance because there is nothing to be serviced, there is no chain-sprocket, no spark plug, no carburetor, nothing! Apart from wheels and pedals, the only moving part in Y0-BYKEs is the electric motor, which is completely encased in metal and is located inside the rear hub. There are SIX models of Y0-BYKE, ranging in price from Rs.17,500/- to Rs.29,000/-. The cheapest model is named Y0-TUFF and price is Rs.17,500/-. It has the same frame like a standard gents bicycle as well as large wheels and pedals like in bicycle. Y0-TUFF Tires are 26 inch diameter and 1.75 inch thick, same like standard full size gents bicycle. Y0-tuff is not suitable for females wearing long flowing dress or Saree. Two other large wheeled Y0-BYKE models which have pedals and use the same Y0-Tuff battery, and suitable for females wearing long dress, are Y0-TREND costing 19,500/-, and Y0-TEEN costing 20,400/-. Both Y0-TREND and Y0-TEEN have slightly smaller diameter wheels and have lower seat height suitable for females. All these three models use a composite single battery which is 41 cm tall, 17 cm wide and 11 cm thick. It is locked on the bike (there is a key to open this lock), and can be unlocked and carried into the house for charging. Its weight is 13 kg. It is convenient to carry and has a convenient handle for carrying it. The battery can be unlocked & removed from the bike by lifting the rider seat. These three large wheeled models can carry 75 kg weight. Top speed is 25 km per hour, and can run 50 km before charging is required. Battery voltage is 36 Volts, and battery life is 20,000/- km. There is a fourth large wheeled model with pedals named Y0-TRUST (also suitable for females) which uses TWO batteries which can travel 75 km on a single charge and costs Rs.21,500/-. There are TWO more models with small wheels like Scooty, named Y0-SPIN and Y0SMART. Both these models work at 48 Volts. Y0-SPIN costs Rs.26,000/-, range per charge is 55 km and battery life is 20,000 kms.Y0-SMART costs 29,000/-, range per charge is75 kms and battery life is 25000 kms.

10

Y0-BYKE number plate

Y0-Smart handle

Charging the battery is very simple. The charger has two wires coming out of it. At the end of one wire is two-pin plug which fits into any electric wall socket in your house. At the end of the other wire is a suitable plug which fits into the socket of the Y0-BYKE. On the charger is a small indicator light. While the battery is being charged this light is red. When the charge is complete, this light turns green. When light goes green, just disconnect the charger wires from both ends and keep the charger at home and start riding the Y0-BYKE.

The day I began my testing of the Y0-Smart model of Y0-BYKE was great. I got stopped by a Cop for driving in the cycle lane on the one way part of Law College Road on which, from Canal-Roads-Chowk up to Nal-Stop, on the right side there is a lane reserved exclusively for cyclists, and marked by a few inches high divider. Many motorcycles were going in that lane, which is illegal. I also went on Y0-Smart. At Nal-Stop traffic light, Policeman was catching motorcyclists for going in bicycle lane. He was confiscating their Licenses. I also was stopped. He asked for my License. I said I don’t have License. Then he asked for P.U.C. I said I don’t have PUC. Then he asked for Regn. Certificate. I said I don’t have. He then took out his official receipt book for collecting FINE, and asked me vehicle number. I said I don’t have number. He said “Eh? How can that be?” And walked behind the Y0-Smart and read the number, “Shree 420” (see photo). “What nonsense” he shouted, “Come to inspector”. So he took me to inspector and explained, “This man has no License, no PUC, no Registration Certificate, and on number plate he has written Shree 420 see, policeman pointed at my Y0-Smart. Inspector looked at my Y0-Smart and told policeman, “Let him go”.

Battery lock of model Y0-TUFF

Y0-TUFF is the motor

Policeman was shocked and asked inspector, “Why should we let him go?” Inspector replied, “Because he is Shree 420! This is Y0-BYKE. It does not need anything. 11

It does not need even petrol. Then inspector turned to me and said, Sir, “can you please explain about the bike to my man and educate him while I collect FINE from the motorcyclists for doing exactly what you did. I was very happy. This is the biggest advantage. But even bigger advantage than this is that I never have to go to petrol pump. I don’t use petrol. Not even diesel or kerosene.

Basic features of electric bike.

Advantage of

ELECTRIC bike Ten good reasons from A to B magazine...

12

1. Hill Climbing That may sound obvious, but it's the primary advantage. A good electric bike effectively flattens hills, increasing your average speed and eliminating the 'groan' factor when a gradient comes into view. Provided you supply a reasonable amount of effort, you can expect to climb hills of 1 in 10 (10%) on an electric bike with ease, and clear a maximum gradient of 1 in 7 (14%), or much more. In hilly country, the effect is nothing short of miraculous.

2. Safety It sounds unlikely, doesn't it? But the mathematics is compelling. Think of a steep and busy road, with cars climbing at 30mph. If you previously slogged up the hill at 6mph, but can tackle the same gradient at 12mph with an electric bike, you will see 33% fewer cars, and they will pass you at 18mph rather than 24mph. Or at least, we think that's correct. Whatever the figures, there's no doubt that an electric bike helps to keep you out of danger. The same general principle applies to road junctions - the faster your acceleration, the sooner you can get out of trouble. And with no need to rush the hills, you won't be tempted to ride downhill at breakneck speed... another useful safety feature.

3. Running Costs Purchase cost is a little more than a conventional bike, mechanical wear and tear is about the same, and electricity is so cheap as to be largely irrelevant, but there is an extra expense in terms of battery depreciation. Consequently, an electric bike costs more to run - typically 5 - 8 pence per mile against 4.2 pence per mile for a non-assisted bike (a). However, electric bike running costs should really be compared with those of a moped, or a car, when the electric bike replaces car mileage. With cars costing 50 - 80 pence per mile, an electric bike can save a great deal of money.

4. Personal Fitness Surely a conventional bike will keep you fitter? That, of course, depends how much - if at all - you use it. Research (b) has found that 46% of conventional bikes are used only once or twice a week, with a further 30% being used once a fortnight or even less. By contrast, a recent survey of electric bicycle owners reveals that a third ride their bike at least once a day and 81% use the bike at least once a week (c). The figures confirm our experience that an electric bike typically gets used at least twice as often as a conventional machine. Because riding an electric bike is a great deal more enjoyable in hilly country, into strong winds, or when carrying heavy loads, users tend to make better use of them. The motor provides up to half the effort, but more regular use means more exercise for the rider.

5. No Sweat! Sweat may not be a serious issue when you're out for a leisure ride, but it's more important if you're cycling to work. Although some employers are rather grudgingly providing showers and other facilities for cyclists, the great majority have no intention of doing so. An electric bike eliminates the problem at source. Oddly enough, you won't sweat on an electric bike, even if you put in the same amount of effort as you do on an ordinary bike. This is because you will be going faster, and the 'wind chill' effect is greater, keeping you cool. In hot weather, it's possible to maintain a normal schedule by transferring a bit more 13

load to the electric motor. In colder weather - or if you feel in need of exercise - just throttle back, or turn the motor off.

6. Clean & Green Electric bikes obviously consume energy, where a conventional bikes does not (provided we ignore the environmental cost of growing and processing food - see below). However, the amount of energy used is very small compared to a moped, motorcycle or car. Besides fuel, the only consumables are the batteries, and these can normally be recycled when lifeexpired. As for energy use, electric bikes typically consume fuel at an average rate of 100 to 150 watts of electrical energy, against 15,000 or so for a car (admittedly travelling faster, out of town at least). In terms of fuel consumption, an electric bike achieves about 8002,000mpg (280 - 700 km/litre) (d). No other commercially available vehicle can match figures of this kind. If it's hard to place these numbers in your own lifestyle, think of a 100 watt electric light bulb burning for an evening - that's enough energy to propel an electrically-assisted bike for 20 to 40 miles...

7. Genuinely Sustainable There's a lot of nonsense talked about sustainability in transport, but an electric bicycle can be made genuinely sustainable. Purchase electricity from a 'green' supplier, or generate your own with a roof-mounted windmill or solar panel array, and the vehicles' fossil fuel consumption will be zero. Surely a conventional bike does that already? Only if you grow the food you consume whilst riding it. Unfortunately, most modern food production and distribution is so fuel-intensive that the consumption of a typical cyclist is not terribly good. To see this in practise, take a look at our Climate Change pages.

8. Faster Travel In theory a car can average a high speed, but in practise speed often falls below 10mph in cities. The problem is congestion - motorcycles get around this to some extent, but they're still confined to the road network. An electric bike can maintain a higher average speed than a bicycle but take advantage of the same network of cycle facilities, giving access to routes that cars and motorcycles cannot reach. The result is often a faster door-to-door journey time than any other mode. And by taking advantage of the uncongested cycle network, but eliminating hills and headwinds, electric bikes are often the most consistent mode of travel.

9. High Resale Value Electric bikes are new technology, and these are early days, but the evidence points to a much better resale value than a conventional bike. True, a typical electric bike costs more to buy, at £400-£1,000, but it seems you'll get most of that back if you sell the machine on.

10. Motorized, but no Red Tape! You know how it is... MOT due, log book missing, insurance costs rising year on year. Electric bikes are treated just like ordinary bicycles for legislative purposes, so there's 14

absolutely no registration or legislation to worry about. You are of course free to insure the machine if you wish, but there's no compulsion to do anything but enjoy yourself!

ELECTROTHERM(INDIA)LIMITED FINANCIAL HIGHLIGHTS

15

DETAILS

2006-07

2005-06

2004-05

SALES (Rs. LACS.)

73088.65

34472.1

18376.84

89%

89%

88%

221%

3839.46

1629.42

136%

852%

5448.35

2627.78

1350.14

107%

95%

1692%

28543.52

12428.97

7300.25

3527.45

7.62%

7.35%

13.45%

13.11%

COMPOUNDED ANNUAL GROWTH RATE (SALES)

GROWTH IN SALES (ANNUAL) EARNING BEFORE INTEREST & TAX (EBIT) (Rs. IN Lacs)

GROWTH IN EBIT (ANNUAL) PROFIT AFTER TAX - (Before Deferred Tax) (Rs. IN LACS)

GROWTH IN PROFIT AFTER TAX (ANNUAL)

CAPITAL EMPLOYED (Rs. IN LACS.)

NET WOTH (Rs. IN LACS.) (Incl.: Deferred Tax)

OPERATING PROFIT/ NET SALES

GROSS RETURN ON CAPITAL EMPLOYED (ROCE)

89%

112% 9635.35

151%

61824.08

24437.19

7.45%

15.59%

DEBIT/ EQUITY RATIO

1.35

2.16

2.06

CURRENT RATIO

1.77

1.29

1.76

82.86

35.54

28.33

20%

20%

15%

254.38

127.98

66.54

EARNING PER SHARE (Rs.) DIVIDEND RATE BOOK VALUE PER SHARE (Rs.)

16

Comparison of Fiscal 2007 with Fiscal 2006 and Fiscal 2005 Income Comparison SN

Particulars

2006-07 Rs. Lacs

2005-06 Rs. Lacs

A 1

INCOME Furnace & Engineering

16,561.15

17,585.38

2

Special Steel Division

49,633.61

16,998.00

-

3

Electric Vehicles Sub Total Other Income

6,893.90 73,088.66 318.66

188.72 344,72.10 1,83.60

183,76.84 2,21.62

4

17

2004-05

Rs. Lacs

183,76.84

5

Increase in Stock Total Income

2,553.76 75,961.07

9,73.59 356,29.29

11,14.79 197,13.25

The income for Mar 05 increased from Rs.183.77 crores to Rs. 344.72 crores in Mar 06, a jump of 88%. In the year Mar 07, the income further increased to Rs. 730.89 crores, a jump of 112%. The jump was on account of increased sales of special steel division and launching of Electric vehicles.

Export sales The break of domestic and export sales for the last three years are given below:

2005-06 Rs. Lacs

2004-05 Rs. Lacs

66,175.34

30,361.07

14,990.08

Export Sales

5,151.38

4,111.03

3,386.76

Deemed Export Sales

1,761.93

0.00

0.00

6,913.31

4,111.03

3,386.76

73,088.65

34,472.10

18,376.84

Particulars

2006-07 Rs. Lacs

Domestic Sales Exports

Total Exports Total

18

The exports are steadily increasing. The exports could have been much higher, but several orders which are under execution will actually be completed in the current financial year (2007-08) and the export figures will be reflected in the current year.

19

Stock Performance Performance of share price of ELECTROTHERM in comparison to BSE Sensex for the year 2006 – 2007 is as under:

20

Manufactures of electric bike and their Products?

21

Electric Scooter Products Model: YO Speed Manufacturer: Electrotherm Price: 36,650

Model: TVS Teenz Electric Manufacturer: TVS

Model: myEbike Sporty Manufacturer: Paradise Electro Auto

Model: Xite K100LA Manufacturer: Xite Price: 26,500

Model: Xite K101LA Manufacturer: Xite Price: 29,500

Model: Xite K103LA Manufacturer: Xite Price: 30,500

Model: Xite K102LA Manufacturer: Xite Price: 30,500

Model: Avon e-lite 016 EB Manufacturer: Avon

Model: Avon e-bike VX Manufacturer: Avon

Model: Atlas Angel Manufacturer: Atlas

22

Model: Atlas Classic Manufacturer: Atlas

23

3.1 ANALYSIS AND INTERPRETATION OF DATA Analysis is an attempt to organize and summaries data in order to increase result, usefulness in such a manner that enables to relate critical points with the objectives of study. The data after collection has to be processed an analyzed in accordance with the out line laid down for the purpose at the time of developing the research plan. Technically speaking, analyzing implies editing, coding, classification and tabulation of collected data so that they are amenable to analysis. The terms analysis refers to the computation of certain measures along with searching for pattern of relationship that exists among data groups. Interpretation refers to task of drawing inferences from the collected facts after an analytical and/or experimental study. In fact, it is a search for broader meaning of research finding the task of interpretation has to measure aspects that is (i) the effort to establish continuity in research though linking the results of a given steady with those of another and (ii) the establishment of some explanatory concepts. Interpretation is concerned with relationships within the collected data, partially over lapping analysis. Interpretation also extends beyond the data of the study to include the result of other research, theory, and hypotheses. Thus, interpretation is the device though which factors that seem to explain what has been observed by researcher in the course of study can be better understood and it also provides a theoretical conception, which can serve as a guide for further researches. Interpretation is essential for the simple reason that the usefulness and utility of research finding lie in proper interpretation. Interpretation leads to the establishment of explanatory concepts that can serve as a guide for further research studies; it opens new avenues of intellectual adventure and stimulates the quest for more knowledge.

24

Age Profile

Age-group Less than 25 years 25 – 30 years 30 – 35 years 35 – 40 years 40 years and above Total

Respondents 24 6 0 0 0 30

Percentage (%) 80% 20% 0 0 0 100%

Age Profile 25

24

Less than 25 years

20

25 – 30 years

15 10

30 – 35 years

6

5 0

0

0

0

1

35 – 40 years 40 years and above

respondent

Interpretation – From the above table it is found that majority of respondents (80%) are under the age group of less than 25 years.

25

Gender

Gender Male Female Total

Respondents 8 22 30

Percentage (%) 26.67% 73.33% 100%

gender

27% Male Female 73%

Interpretation – From the above table it is found that majority of respondents (73.33%) are female.

26

Occupation

Occupation Govt. employee Private employed Self-employed Other Total

Respondents 3 8 2 17 30

Percentage (%) 10% 26.66% 6.66% 56.66% 100%

occupation 20 15 10 5 0

17 Govt. employee

8 3

Private employed Self-employed

2

Other

1 respondent

Interpretation – It is found from the above table that majority of the respondents (56.66%) are others (such as student).

27

Income Profile Income (monthly) Below Rs.10,000 Rs.10,001 – Rs.20,000 Rs.20,001 – Rs.30,000 Rs.31,000 – above Total

Respondents 10 14 5 1 30

Percentage (%) 43.33% 40% 13.33% 3.33% 100%

Income profile 14

15 10

10 Rs.10,001 – Rs.20,000

5

5 0

Below Rs.10,000

Rs.20,001 – Rs.30,000 Rs.31,000 – above

1 1 respondent

Interpretation – It is found that majority of the respondents (43.33%) falls under the income group of below-Rs.10,000 .

28

Size of Family

Size of Family Below-4 5-8 9-12 12-above total

Respondents 10 20 0 0 30

Percentage (%) 33.33% 66.67% 0% 0% 100%

Size of family 20 15 10 5 0

20 10 0 1

0

Below-4 5-8. 9-12. 12-above

respondent

Interpretation – It is found from the above table that majority of the respondents (66.67%) belongs to 5-8 family size.

29

How many member eligible to ride two wheeler of Family

Member Below-2 3-5 5-7 7-above Total

Respondents 10 19 1 0 30

Percentage (%) 33.33% 63.33% 3.33% 0 100%

family member who is eligeble to ride bike 19

20 10 0

Below-2

10 1

0

1 respondent

3-5. 5-7. 7-above

Interpretation – It is found from the above table that majority of the respondents (63.33%) belongs to 3-5 family member are eligible to ride two wheeler bike.

30

Important feature would you look for while purchasing a two wheeler

Features Appearance and weight Speed and handling Cost and Mileage Others total

Respondents 2 0 25 3 30

Percentage (%) 6.66% 0% 83.33% 10% 100%

25

25

Appearance and weight Speed and handling

20 15 10 5 0

2

0

3

Cost and Mileage Others

1 respondent

Interpretation – It is found from the above table that majority of the respondents (83.33%) are consider cost and mileage.

31

Price Range of two-wheeler Bike Price range 20000-30000 30001-40000 40001-50000 50001-above total

Respondents 5 14 10 1 30

Percentage (%) 16.66% 46.66% 33.33% 3.33 100%

Price range would you prefer while purchasing a to wheeler 14 14 12

10

10 8 6

20000-30000 30001-40000

5

40001-50000

4

1

2

50001-above

0 1 Respondent

Interpretation – It is found from the above table that majority of the respondents (46.66%) prefer 30001-40000 price range while purchasing a two wheeler

32

Aware about Electric bike

Aware Yes No Total

Respondents 29 1 30

Percentage (%) 96.66% 3.33% 100%

P ercen tag e o f aw arn ess o f electric b ike

No 3%

Y es No

Y es 97%

Interpretation - It is found from the above table that majority of respondents (97%) in Raipur city are aware of Electric Bikes

33

Sources of Information about electric-bike

Sources Newspapers TV commercials Relatives /Friends Any Others Total

Respondents 5 12 12 1 30

Sources of information about E-bike 12

Percentage (%) 16.66% 40% 40% 3.33% 100%

Newspapers

12

12

TV commercials

10 8 6

5

4

1

2 0

1

Relatives /Friends

Any Others

Respondent

Interpretation - From the above table it is found that majority of respondents (40%) consider TV commercials and Relatives/Friends is a main source of information.

34

Advertising influence your buying Decision

Buyer decision Strongly agree agree undecided disagree Strongly disagree Total

Respondents 3 17 9 1 0 30

Percentage (%) 10% 56.66% 30% 3.33% 0% 100%

Chart of buyer who is influences with ad

18 16 14 12 10 8 6 4 2 0

17

Strongly agree agree

9

undecided

3 1 1

Respondent

0

disagree Strongly disagree

Interpretation - It is found from the above table that majority of respondents (56.66%) are agree to influenced by the while seeing advertising .

35

Seen the ad of e-bike Seen Yes No Total

Respondents 24 06 30

Percentage (%) 80.00% 20.00% 100%

Percentage of Person w ho is seen the ad of E-bike

Yes

20%

No

80%

Interpretation - From the above table it is found that majority of respondents (80%) in Raipur city are aware that electric bike by seen the ad of e_bike

36

Basic features of Electric-bike, you are aware of features Low weight Low running cost Registration not required Others Total

Respondents 5 19 1 5 30

Percentage (%) 16.66% 63.33% 3.33% 16.66% 100%

Awarness of basic feature of E-bike

19

20

Low weight

15 10

Low running cost 5

5

5 0

Registration not required

1 1

Others

Respondent

Interpretation - It is found from the above table that majority of respondents (63.33%) are aware the low running cost of electric bike.

37

How would you rate of the electric bike in comparison to conventional bike

Rate 0 10 20 30 40 50 60 70 80 90 100 Total

120

Respondents 0 2 2 1 6 4 6 7 2 0 0 30

Percentage (%) 0% 6.66% 6.66% 3.33% 20% 13.33% 20% 23.33% 6.66% 0% 0% 100%

R a t e o f E - b ik e c o m p a r is o n t o c o n v e n t io n a l b ik e

100 0, 100 0, 90 80

2, 80 7, 70

60

6, 60 4, 50

40

6, 40 1, 30

20

-1

0 0, 0 0 1

2, 20 2, 10 2

3 4 5 R e sp o n d e n t

6

7

8

Interpretation - From the above table it is found that majority of respondents (23.33%) rate 70 of electric bike in comparison to conventional bike.

38

-.

Factors are responsible for lower market share of E-bike compared to conventional bike

Appearance Appearance +5 +4 +3 +2 +1 -1 -2 -3 -4 -5 Total

Respondents 0 0 7 10 8 3 2 0 0 0 30

Percentage (%) 0% 0% 23.33% 33.33% 26.67% 10% 6.67% 0% 0% 0% 100%

6

0; 5 0; 4

4

7; 3

Appearance

2

10; 2

8; 1 0 -2

-2

0

2

0 ; -3

3 ; 4-1 2 ; -2

6

- 4 0 ; -4

0 ; -5

-6 res ponde nt

39

8

10

12

Speed

Speed +5 +4 +3 +2 +1 -1 -2 -3 -4 -5 Total

Speed 5 4

Respondents 1 0 3 9 11 0 3 2 0 1 30

Percentage (%) 3.33% 0% 10% 30% 36.67% 0% 10% 6.67% 0% 3.33% 100%

6

1; 5 4

0; 4 3; 3 9; 2

Speed

2

11; 1 0 0 0; -1

-2 -2 -4

2

4

6

3; -2 2; -3 0; -4 1; -5

-6 Re sponde nt

40

8

10

12

Battery Backup Battery backup +5 +4 +3 +2 +1 -1 -2 -3 -4 -5 Total

Respondents 0 1 4 6 9 4 2 2 0 2 30

Percentage (%) 0% 3.33% 13.33% 20% 30% 13.33% 6.67% 6.67% 0% 6.67% 100%

6

0, 5 1, 4

4

Battery Backup

4, 3 6, 2

2

9, 1 0 0

2

4, -1

6

2, -2 2, -3

-2 -4

4

0, -4 2, -5

-6 Respondent

41

8

10

FACTORS

Respo ndents POSITIVE NEGATIVE 25 5 24 6 20 10 69 21

Appearance Speed Battery Backup Total

PERCENTAGE% +VE -VE 83.33% 80% 66.67% 76.67%

16.67% 20% 34.33% 23.33%

FACTORS RESPONSIBLE FOR LOWER MARKET SHARE OF EBIKE

30

5

6

10

25

NEGATIVE

20 15

25

24

20

10

POSITIVE

5 0

Appearance

Speed

Battery Backup

Interpretation - According to respondent (34.33%) Battery Backup is one of the factor for lower market share of E_Bike becouse which is got 10 higest Negative response rather than others factors.

42

HYPOTHESIS TESTING

DEFINITION OF HYPOTHESIS Hypothesis may be define as a proportion or a set of proportion set forth as an explanation for the occurrence of some specified group of phenomena either asserted merely as a provisional conjecture to guide some investigation or accepted as highly probable in the light of establish facts. Hypothesis also define as a principle instrument in research and is predictable statement, capable of being tested by scientific method, that relate an independent variable to some variable Some characteristics of hypothesis 1. Hypothesis should be clear and precise. 2. It should be capable of being tested . 3. It should state relationship between variables. 4. It should be stated as far as possible in the most simple terms so that. the same as easily understandably by all the concerned. 5. It should be limited in scope and must be specific. TEST OF HYPOTHESIS Basic concept in the context hypothesis : 1. Null hypothesis 2. Alternative hypothesis Null hypothesis (Ho):- consumer’s are not affected by advertising promotional strategy. Alternative hypothesis (Ha):- consumer are affected by advertising promotional strategy. Level of significance = 5%

43

TEST ADOPTED: t-test was adopted.

t-test: t-test is based on t-distribution and is considered an appropriate test for judging the significance of a sample mean or for judging the significance of difference between the means of two samples in case of small sample(s) when population variance is not known (in which case we use variance of the sample as an estimate of the population variance

Test of hypothesis:i)

Ho : µ = 30

Ha : µ ≠ 30

Factor not influence the consumer

Factor influence the consumer

Consumer perception toward

Consumer perception toward

Electric Bike

Electric Bike

As the sample size is 30(since n=9) and the population standard deviation is not known we shall use T-test assuming normal population and shall work out the statistic T under Xi -µ t= S.D./ √n ii) To Find

X and S.D. we make the following:

s.no.

Xi

1 2 3 4 5 6 7 8 9

25 14 29 12 17 24 19 7 23 170

( Xi – X ) 6.12 -4.88 10.12 -6.88 -1.88 5.12 0.12 -11.88 4.12

(Xi – X )2 37.45 23.81 102.41 47.33 3.53 26.21 0.01 141.13 16.97 398.85 44

X

=

∑ (Xi )/n

X

= 170/9=18.88(Approx)

Standard Deviation

=

√∑( Xi - X)2/n-1

Degree of freedom

=

(n-1 ) =

=

8

=

√398.85/9-1

=

√398.85/8

=

√49.85

=

7.28

Xi -µ t

= S.D./ √n

µ

=

30 18.88-30

T = 7.28./ √9 =

11.12/2.42

=

4.59.

45

9-1

The critical region for an alpha of .05

The value of t at 5% level of significance with 8 degree of freedom of two –tailed test is 2.30 As , the critical value of t is more than the calculated value . Therefore , Null hypothesis is rejected and alternative hypothesis is accepted . Null HypothesisHo

= factor not influence the consumer perception toward Electric Bike.

Alternative HypothesisHa ≠ Factor influence the consumer perception toward Electric Bike.

46

LIMITATIONS:

Any research or study always has some limitations under which this has to be undertaken. This one too was not an exception. These limitations are poised by the environment … some external and some inherent. This study has been conducted with utmost consideration to the adequacy of data and quality of information, though as mention earlier the reliance on the sources can not be minimized to zero in context of precision. The limitation can be enlisted as hereunder:1. The perception level of the respondents. 2. Availability of documents as sources of secondary information. 3. Reliability of information collected from various public information sources such as magazines and website. 4. Respondents are not willing to fill the questionnaire. 5. Sometimes the respondents are not available at their place. 6. Very often the respondent do not express their true feelings, in such case their habit, preference, practice, cannot be assessed correctly. 7. Some of the respondents refuse to give the important information best known to them. However in spite of these limitations all efforts have been put to make the report correct, genuine, and fulfilling the objectives of the reports.

47

FINDINGS: •

Majority of respondents i.e., 96.66% are aware of Electric Bike in Raipur city.



Most of respondents i.e., 56.66% are agree to advertisements influence their buying decision



Most of the respondents i.e.,

83.33% are consider the cost and mileage while

purchasing a new bike ,so there are ample potential to electric bike in two wheeler sectors. •

Battery Backup is one of the factor which is affected the sales of electric bike

48

SUGGESTION AND RECOMMENDATION.

On the basis of this study, the following suggestions have been made to make the help in sales of electric bike more effective: -



There is need to bring more awareness of various others feature of electric bike brings to a consumer mind by providing them vouchers and literatures in different regional languages.



There should be free, fair, justified and honest competition amongst the various electric bike companies.



Manufacturer/dealer should be given timely information of the governments changed policies regarding two wheeler sector.

49

CONCLUSION •

This research identified and evaluated the consumer perception toward various factor about electric bike. The results of this research show that there is a combination of positive and negative effect of that factor on consumer perception. Here most of the respondents are consider the cost and the mileage while purchasing a new bike , so there are ample potential to electric bike in two wheeler sectors. But their battery is one of the factor which is effected the sales of electric bike because its performance is not good.

50

BIBLIOGRAPHY Book Reference 1. Kotler philip, “Marketing Management” New Delhi, Prentice

hall of India, 2003

2. Kothari C.R, “ Research Methodology” New Delhi, vishwa Prakash, 2003 3. Robbins S. P. “Organizational Behavior New Delhi, Pearson Education, 2004, Tenth Edition, Page no. – 123 – 124. 4. “Business Research Methods” ICFAI books. Web Reference

1. www.EVfuture.com 2. www.induselectrans.com

51

Questionnaire Dear Sir/madam, I am a MBA Student of Rungta College of engineering and Technology. As a part of academic curriculum I am conducting a research on the topic “A study of various factors which influence the consumer perception towards electric bike with the Special reference of Raipur region.” I need your kind help and support to complete this research. The success of this research will depend on your true and clear response. So kindly provide me your opinion to fill these questionnaires. I hereby declare that this information is kept confidential and will not be misused.

Bhupendra Kumar Verma MBA-II(sem)

1. Name

:-

------------------------------------------------------

2. Age :------------------------------------------------------------3. Gender:a) Male

b) Female

4. Occupation:- Put a tick( ) mark against the right option. a) Govt. Employee b) Private Employee c) Self employed d) Others 5. Income per month – Put a tick ( ) mark against the right option. a) Below 10,000 b) 10,001-20,000 C) 20,001-30,000 d) 30,001 and above 6. Size of family-Put a tick ( ) mark against the right option. a) Below -4 b) 5-8 c) 9-12 d)12 and above 52

7. Members in family who are eligible to ride two wheelers. a) below-2 b) 3-5 c) 5-7 d) 7- above

8. What important Features would you look for while purchasing a two –wheeler? a)Appearance and weight handling

b)Speed and

c)Cost and mileage

d)Others

9. Which price range would you prefer while purchasing a two Wheeler? a) 20,000-30,000 40,000

b) 30,001-

c) 40,001-50,000

d) 50,001 and above

10. Are you aware about Electric bikes? a)Yes

b) No

11. How did you come to know about e-bike? a)news paper commercials

b)TV

c) Relative/Friends others

d) Any

53

12.Do advertisements influence your buying decision:Strongly Agree

Agree

Undecided

Disagree

Strongly Disagree

13. Have you seen the ad of E-bike? a) Yes

b) No

14. What are the basic features of e-bike, you are aware of:a) Low weight running cost

b) Low

c) Registration not required

d) Others

15. How would you rate the E-bike in comparison to conventional Bike? Best ------------------------------------------------------------worst 100

90

80

70

60

0

54

50

40

30

20

10

16. Which factor do you think responsible for lower market share of E-bike as compared to conventional bike? +5 +4 +3 +2 +1

Appearance -1 -2 -3 -4 -5

+5 +4 +3 +2 +1

Speed

+5 +4 +3 +2 +1

Battery Backup

-1 -2 -3 -4 -5

-1 -2 -3 -4 -5

17. Please give your valuable suggestion to help increase the sales of E-bike? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Thanks for your co-operation!!!

55

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