Consumer Awareness and Perception towards E-bikes 1. EXECUTIVE SUMMARY The Topic of study was “A STUDY ON CONSUMER AWARENESS AND PERCEPTION TOWARDS GENXT ELECTRIC BIKES” GENXT POWER (INDIA) LTD was incorporated on September 26, 2002, having its registered office in Mumbai and its manufacturing unit at Vasai. Genxt has assembled various innovative technologies to manufacture the first Electric Two-wheeler to serve the personal and commercial need of the prospective Indian consumer. The crowning glory of the company’s remarkable success is the fact that now it has become a full fledged limited company i.e. GENXT Power India Ltd. It has been always believed customer as an important stock holder in business. Therefore consumer awareness is of prime importance to the organization. The objective of the study was to know about the awareness of electric bikes among the people and what is the perception of the users about the bikes is and to explore how the sale of electric bike can be increased. 1 Department of Management Studies, MSRIT
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Consumer Awareness and Perception towards E-bikes
1. EXECUTIVE SUMMARY
The Topic of study was “A STUDY ON CONSUMER AWARENESS AND
PERCEPTION TOWARDS GENXT ELECTRIC BIKES”
GENXT POWER (INDIA) LTD was incorporated on September 26, 2002,
having its registered office in Mumbai and its manufacturing unit at Vasai.
Genxt has assembled various innovative technologies to manufacture the first
Electric Two-wheeler to serve the personal and commercial need of the
prospective Indian consumer.
The crowning glory of the company’s remarkable success is the fact that now it
has become a full fledged limited company i.e. GENXT Power India Ltd. It has
been always believed customer as an important stock holder in business.
Therefore consumer awareness is of prime importance to the organization. The
objective of the study was to know about the awareness of electric bikes among
the people and what is the perception of the users about the bikes is and to
explore how the sale of electric bike can be increased.
The data collected for the project was based on primary and secondary data. The
sample size selected for the survey was 100. The primary data collected through
questionnaire. The survey was conducted for 4 weeks and data was collected
from direct questionnaire and interview. The collected data was analyzed and
interpreted to obtain the conclusion by using graphical representation.
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STATEMENT OF THE PROBLEM:
With increasing in air pollution in urban areas and scarcity of fuels Electric
Bikes is in great demand but it is not used by most of the people because of lack
of awareness. Thus the purpose of the study is to study the awareness level of
consumers towards E-Bikes and also the perception of the users. Thus by
creating awareness we can enhance the sales of Electric Bikes
The objectives of the study are;
To find out the awareness of consumer about the electric bikes.
To find out the reason why consumer prefers to electric bike.
To find out the factor influencing the sales of electric bike.
To know the users perception about electric bikes.
To suggest measures to increase sales of electric bikes.
SAMPLING DESIGN :
Sampling unit : Users of two wheelers in north Karnataka
Sampling size : 100
Sampling method : Non probability
Sampling technique : Convenience sampling
MAJOR FINDINGS
It was found that most of the customers are not much satisfied with the
price of the product, and Price quoted by the companies has affected the
customer satisfaction to a great deal.
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It was found that most of the customers were satisfied with the mileage
of the Electric bikes and are convinced about the electric bike benefits
and were willing to refer it to their friends.
It was found that most of the customers are not satisfied with after sales
service. It shows that customers are dissatisfied about after sale service.
It was found that maximum number of the customers feel the speed of
the Electric bikes to be very low and were not satisfied with the current
speed of the bikes.
It was found that most of the respondents feel that the factors such as
speed & power, battery life and appearance of Electric Bikes are the
main reasons for its lower market share.
MAJOR SUGGESTIONS:
There are only few advertisements in newspapers and TVs. Thus
maximum advertisements need to be put up in these Medias as they
reach wider audiences.
The price of the electric bikes need to be decreased it can be done by
adopting sophisticated technologies and carrying out mass productions or
some discounts on price or offers should be given in order to increase
the sales.
More number of service centres need to be opened at least in major
areas to cater to the problems & needs of the customers when needed.
As most of the people prefer high speed the speed of the electric bikes
need to be improved so as to increase the sales of the E-Bikes.
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Promotional activities should be increased to create awareness and
increase the sales. Like it should be displayed in auto shows and to
attract more youths demonstrations and special offers should be given to
college students.
LIMITATIONS TO THE STUDY:
Some of the limitations of the study may be summarised as follows
An underlying assumption for entire project is that the details and
feedback received from population are true.
It was difficult to find respondents as they were busy in their
schedules and collection of data was very difficult. Therefore study
had to be carried out based on availability of respondents.
Some of the respondents were not ready to fill the questionnaire and
some of them not ready to come out openly.
Also the sample size of 100 may not truly represent whole
population.
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2. INTRODUCTION TO THE CONCEPT
Marketing:
It is defined by the American marketing association as the activity, set of
institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and
society at large. The term developed from the original meaning which referred
literally to going to market, ass in shopping, or going to a market to sell goods
or services.
Awareness:
It is a term referring to the ability to perceive, to feel, or to be conscious of
events, objects or patterns, which does not necessarily imply understanding. In
biological psychology, awareness comprises a human’s or an animal’s
perception and cognitive reaction to a condition or event.
E-BIKE:
An Electric Bike or Scooter is a battery operated vehicle that is very economical
with low maintenance cost and zero pollution. Electric two wheelers use the
electrical technology of rechargeable battery that converts the electrical energy
into mechanical energy. The battery of an EV can be charged easily using a
power connection. There are many possible types of electric motorized bicycles
with several technologies available, varying in cost and complexity; direct-drive
and geared motor units are both used. An electric power-assist system may be
added to almost any pedal cycle using chain drive, belt drive, hub motors or
friction drive. The power levels of motors used are influenced by available legal
categories and are often limited to under 700 watts.
Electric bicycles use rechargeable batteries, electric motors and some form of
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control. This can be a simple as an on-off switch but is more usually an
electronic pulse width modulation control. Electric bicycles developed in
Switzerland in the late 1980s for the Tour de Sol solar vehicle race came with
solar charging stations but these were later fixed on roofs and connected so as to
feed into the electric mains.[13] The bicycles were then charged from the mains,
as is common today. Battery systems in use include lead-acid, NiCd, NiMH and
Li-ion batteries.
Electric motorized bicycles can be power-on-demand, where the motor is
activated by a handlebar mounted throttle, and/or a pedelec (from pedal
electric), also known as electric assist, where the electric motor is regulated by
pedalling. These have a sensor to detect the pedalling speed, the pedalling force,
or both. An electronic controller provides assistance as a function of the sensor
inputs, the vehicle speed and the required force. Most controllers also provide
for manual adjustment.
Range is a key consideration with electric bikes, and is affected by factors such
as motor efficiency, battery capacity, efficiency of the driving electronics,
aerodynamics, hills and weight of the bike and rider. The range of an electric
bike is usually stated as somewhere between 7 km (uphill on electric power
only) to 70 km (minimum assistance) and is highly dependent on whether or not
the bike is tested on flat roads or hills.[14] Some manufacturers, such as the
Canadian BionX or American E+ (manufactured by Electric Motion Systems),
have the option of using regenerative braking, the motor acts as a generator to
slow the bike down prior to the brake pads engaging.[15] This is useful for
extending the range and the life of brake pads and wheel rims. There are also
experiments using fuel cells. e.g. the PHB. Some experiments have also been
undertaken with super capacitors to supplement or replace batteries for cars and
some SUVS.
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The energy costs of operating electric bicycles are small, but there can be
considerable battery replacement costs. Riding an electric bicycle to work or to
the store instead of taking a car has long term financial gains. Solar power is
possible when charging an electric bicycle.
WHY E-Bikes:
Global warming is a major concern all around and to save Mother Earth, there
are several policies, promises and pledges. With the ever increasing emission of
greenhouse gases, there is an increased fear of environment pollution at every
step. With modern technology and innovation, transportation and
communication have undergone a paradigm shift. Along with this, we are also
experiencing the negative effects of industrialization in the form of global
warming. Under these circumstances, when there are traffic jams, when you
need to run an errand at an odd hour of the day, when you need to go to
workplace quickly, you stumble and fumble as there are so many vehicles
emitting soot and CO2 polluting the air incessantly. With increased number of
fossil-fuel dependent vehicles, they not only add to greater level of pollution but
are also leading to depletion of fuel resource. It is here that automobile
companies felt the need to innovate motorized vehicle that will get charged
through electricity and will not be depending on fossil fuels.
This led to expansion of eco-friendly initiatives and many automobile
manufacturing companies invested in research and development to bring forth
electric bikes that will help people save a few bucks by reducing consumption
of already spiraling fuel price, besides fighting global warming. Most electric
bikes are emission-free bikes and this is the USP of the company’s
manufacturing them in these days of global warming. It will not add to urban
pollution. The only thing required is to keep this bike charged with a battery. 7
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Electric bike manufacturing is considered as a grass root movement away from
fossil fuels.
Definitely, electric bikes are not the only answer to our environment problem,
but it definitely will help us to treat environment better. These electric bikes will
not make pollution worse and that makes e bikes environmentally safe vehicle.
It can be charged with the help of inverter and generator too. In one
charge, these electric bikes can go up to 50km and has no tail pipe emissions. It
also makes no noise while under operation. The best part of electric vehicles is
that they can be run with no registration and license.
In the manufacture and production of electric bikes, the main constraint is the
battery in the bumpy roads. Batteries get deteriorated at a fast rate due to
excessive current fluctuation. Batteries need frequent replacement and that is
the greatest concern for the most Indian companies who manufacture these
electric bikes. The replacement cost of the batteries hover around Rs. 5000, but
otherwise the maintenance cost of electric bikes is almost negligible.
There is a growing market potential of electric bikes in India; however, speed
might not be the attractive feature of these e-bikes, they will cater you to run the
short distances maybe home to office or home to college; but these are safer
vehicles with benefit of almost no pollution. So instead of kicking a 100 cc
motorbike, just press the start button of electric bike and vroom your way
friendly on the roads.
It is evident that electric bikes can reduce the air pollution. But there are
also some environmental problems caused due to these electric bikes.
Disposal of worn out batteries can be a cause of major concern for
environmentalists. If this can be addressed, electric bikes can definitely
reduce environment pollution.8
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Benefits Of Genxt E -Scooty Vis-A-Vis Ic Engine Scooters
Particulars Electric Scooty Ic Engine Scooter
Weight of the scooty 75 kgs 84 kgs
Range (Kms) / Litre of
Petrol65/ Charge 50 / Ltr.
Cost / 100 Kms Rs. 6.00 Rs. 110 (2 Ltrs)
Cost of Fuel : Rs/Km Rs. 0.06 Rs. 2.00
Cost of Fuel - Power
over 30,000 Kms in Rs1.800.00 33000
Service and
Maintainance over
30,000 Kms, Rs
1,000.00 9,000.00
Battery Replacement
over 30,000 Kms, Rs10000 set of 4 batteries -- N.A. --
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Total Expense towards
fuel for 30,000 Kms, Rs12,800.00 42,000.00
Cost of Scooter Ex
Showroom (Rs)29980 32,000.00
Registeration (Rs) --N.A.-- 620
Registeration Tax (Rs) --N.A.-- 2,480.00
Insurance (Rs) 478 809
Handling (Rs) 100 100
Total Investment on
Scooter (Rs)30,558.00 36,009.00
Total Investment +
Running cost for 30,000
Kms (Rs)
43,358.00 78,009.00
GENXT POWER INDIA LIMITED
Features of Electric Bikes and Scooters:
Electric bikes or scooters, light in weight, trendy, efficient and eco-friendly, are
becoming potent alternative to the conventional two-wheelers and the Electric
two-wheeler industry in India is developing at rapid speed.
Have a look at the unavoidable advantages of Electric Bikes and Scooters :
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Licence and registration is not required for E Bikes and Scooters.
Electric two wheelers run on re-chargeable battery and uses electricity as
fuel in place of conventional Petrol/Diesel.
E Bikes and Scooters can beat the rising prices of Petrol/Diesel.
Simple design, light weight and economical Electric vehicles are very
low in running and maintenance cost.
With the ease of handling, Electric two wheelers saves the commuting
time in congested roads specially in urban areas.
Electric vehicles are more efficient in terms of generating usable energy
from their electric engine's battery in comparison to the regular fuel
conversion. In this way E Bikes and Scooters are innovative and efficient
mode of personal transport.
Electric bikes or scooters use electricity therefore no emission of harmful
gases like Carbon dioxide (CO2) or Nitrogen dioxide (NO2).
Major Components of an Electric Bike or Scooter:
ELECTRIC HUB MOTOR to drive the rear wheel directly and there are two
types of Electric Hub Motor i.e. DC Brush Motor and DC Brush less motor
having two basic parts namely Permanent Magnet Stator and Wound Rotor.
ELECTRONIC MOTOR CONTROLLER is the central controlling unit of
any Electric two wheeler provides electric power to the motor based on inputs
from the accelerator.
ELECTRONIC ACCELERATOR sends electronic signals to the Electronic
Motor Controller to manoeuvre the bike or scooter.
BATTERY PACK is like the fuel tank of E Bike or Scooter. There are
different kinds of batteries like Lead Acid, Nickel Metal Hydrate (Ni-MH),
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Lithium, etc. that are used for supplying energy.
BATTERY CHARGER is used to charge the battery pack of E Bikes or
Scooters, just like a mobile phone or a laptop. Some battery chargers are in-built
and some are separate that carried always on the move. The charger converts an
AC supply to DC to store power in the battery and it can be used with any
normal domestic AC plug point. This makes charging of battery pack easy and
convenient.
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3. INDUSTRY PROFILE:
The face of auto industry that was redefined with the invention of fuel-efficient
four-stroke engine technology is all set to see dawn of a new era in two-wheeler
industry. It's not petrol or diesel or any other fuel, but its electricity that have
initiated a revolution in two-wheeler industry in India.
Indian two-wheeler industry has embraced the new concept of Electric Bikes
and Scooters that are very popular mode of personal transport in the developed
countries like America, Japan and China. With the rising cost of fuel at
International and national level, increasing levels of pollution and congestion in
transport system specially in Urban areas, higher running and maintenance cost
of vehicle, the electrically charged bikes or scooters have very bright future in
area of personal transportation.
“It is estimated that India’s fossil fuel dependency on other countries currently
from 70% to 82% in 2012. If we can have three lakh Electric Vehicles on the
roads by 2020, including three-wheelers, cars, and scooters, this could result in
a reduction of over 16 lakh metric tons of CO, NOx and HC by 2020
, savings of over Rs 3,700 crore in foreign exchange and significant health costs
savings”
Economic conditions around the world have been very encouraging.
Global growth is increasing year by year .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, and 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.
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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. 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. So the main mission is
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 Bikes has been highly successful and Genxt is now developing
several new vehicles for the Indian market. Our launch in India has developed 14
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interest for our vehicles for international market also and in the future we will
be exporting these vehicles to other countries. Genxt 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.
ORIGIN AND HISTORY:
Most People are not aware of how long electric bicycles have been around you
might think its something new since the recent fuel shortage and cost spikes we
all hate, or even because of Global Warming and the whole go green awareness.
But not true although it might be one reason for their recent surge in popularity
also the technology has improved 10 fold.In the 1890s, electric bicycles were
documented within various U.S. patents. For example, on 31 December 1895
Ogden Bolton Jr. was granted U.S. Patent 552,271 for a battery-powered
bicycle with “6-pole brush-and-commutator direct current (DC) hub motor
mounted in the rear wheel.” There were no gears and the motor could draw up
to 100 amperes (A) from a 10-V battery.
Two years later, in 1897, Hosea W. Libbey of Boston invented an electric
bicycle (U.S. Patent 596,272) that was propelled by a “double electric motor.”
The motor was designed within the hub of the crankshaft axle. This model was
later re-invented and imitated in the late 1990s by Giant Lafree electric bicycles.
By 1898 a rear wheel drive electric bicycle, which used a driving belt along the
outside edge of the wheel was patented by Mathew J. Steffens. Also, the 1899
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U.S. Patent 627,066 by John Schnepf depicted a rear wheel friction “roller-
wheel” style drive electric bicycle.Schnepf's invention was later re-examined
and expanded in 1969 by G.A. Wood Jr. with his U.S. Patent 3,431,994.
Wood’s device used 4 fractional horsepower motors; each rated less than ½
horsepower and connected through a series of gears.
Torque sensors and power controls were developed in the late 1990s. For
example, Takada Yutky of Japan filed a patent in 1997 for such a device. In
1992 Vector Services Limited offered and sold an electric bicycle dubbed Zike.
The bicycle included Nickel-cadmium batteries that were built into a frame
member and included an 850 g permanent-magnet motor. Despite the Zike, in
1992 hardly any commercial electric bicycles were available. It wasn’t until
1998 when there were at least 49 different bikes. Production grew from 1993 to
2004 by an estimated 35%. By Contrast, according to Gardner, in 1995 regular
bicycle production decreased from its peak 107 million units. Some of the less
expensive electric bicycles used bulky lead acid batteries, whereas newer
models generally used NiMH, NiCd and/or Li-ion batteries which offered
lighter, denser capacity batteries. The end benefits usually varied from
manufacturer; however, in general there was an increase in range and speed. By
2004 electric bicycles where manufactured by Currie Technologies, EV Global,
Optibike, Giante Lite, Merida, ZAP.
Electric bicycles are very common in many cities of eastern China, such as
Yangzhou; in some areas they may outnumber motorcycles or regular bicycles
By 2001 the terms, E-Bikes, power bike, pedelec, assisted bicycle and power-
assisted bicycle where commonly used to describe electric bicycles. E-bike,
according to Google, is a term that has increased in trend. This term generally
referred to an electric bicycle which used a throttle. The terms Electric
Motorbike or E-Motorbike have been used to describe more powerful models
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which attain up to 80 km/h. PEDEGO Electric Bicycles are taking the nation by
storm, offering a stylish, and colourful electric bikes that use a throttle control
for power.
In a parallel hybrid motorized bicycle, such as the aforementioned 1897
invention by Hosea W. Libbey, human and motor inputs are mechanically
coupled either in the bottom bracket, the rear or the front wheel, whereas in a
(mechanical) series hybrid cycle, the human and motor inputs are coupled
through differential gearing. In an (electronic) series hybrid cycle, human power
is converted into electricity and is fed directly into the motor and mostly
additional electricity is supplied from a battery.
Pedelec is a European term that generally referred to an electric bicycle that
incorporated a torque and/or a speed sensor and/or a power controller that
delivered a proportionate level of assist and only ran when the rider pedalled.
On the opposite side, a Noped is a term used by the Ministry of Transportation
of Ontario for similar type vehicles which do not have pedals or in which the
pedals have been removed from their motorized bicycle. Finally, Assist Bicycle
is the technical term used to describe such a vehicle and Power-Assisted Bicycle
is used in the Canadian Federal Legislation, but is carefully defined to only
apply to electric motor assist, and specifically excludes internal combustion
engines (though this is not the case in the United States).
Today, China is the world's leading producer of electric bicycles. According to
the data of the China Bicycle Association, a government-chartered industry
group, in 2004 China's manufacturers sold 7.5 million electric bicycles
nationwide, which was almost twice the year 2003 sales; domestic sales reached
10 million in 2005, and 16 to 18 million in 2006.[8] By 2007, electric bicycles
were thought to make up 10 to 20 percent of all two-wheeled vehicles on the
streets of many major cities. A typical unit requires 8 hours to charge the
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battery, which provides the range of 25–30 miles (40–50 km),[8] at the speed of
around 20 km/h.
A large number of such vehicles is exported from China as well (3 million units,
worth 40 billion yuan ($5.8 billion), in the year 2006 alone)
We are looking at practical and true figures of current Indian markets. Current
year 2009-10 will end up with Indian total e-bikes sales at 120K bikes. Every
year market is expected to rise initially by 100% and then by 200%. A lots of
bikes we will see on the road in coming 5 years, just like bicycles and petrol
scooters. As people started accepting the technology and limitations of e-bikes,
a definite positive trends has started now. Due to collective efforts by
manufacturers, Ads, PRs, dealership networks hard work, people accepting e-
bikes in a middle segment between bicycle and petrol scooter. If you see both
ends i.e. bicycles and petrol bikes are showing very attractive sales figures. The
middle segment of e-bikes has turned now to enter in the high growth curve.
Electric Bikes companies are highly optimistic about the e-bikes future.
According to a survey India may surpass china in numbers of e-bikes sale by 6-
8 years.
Indian manufacturers of electric bikes, or e-bikes, are gearing up for what they
call a second wave of growth for these “plug and ply” bikes. They say they are
on the verge of launching faster versions of their bikes and this would blunt the
edge of traditional two-wheeler bikes in the country. Electric bikes operate on a
chargeable battery and do not require petrol to operate.All the e-bikes today do
not require registration or license. This means they have to follow certain
statutory norms that specify that the speed of such two-wheelers should not be
more than 25kmph.
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“Some of the e- bikes companies are now all set to launch a new e-bike—that
would have an engine of 750 watts, compared with 250 watt engines that
existing e-bikes have. It would require registration and license to ride and the
average speed would be 35-40 kmph. This would help explode the demand for
e-bikes in India,” says Avinash Bhandari, director of Ahmedabad-based
Electrotherm (India) Ltd one of the major Electric bikes manufacturers, He says
“The real game would begin when we launch our high powered engine e-bike to
compete with TVS Scooty Pep+ and Honda Activa”. Citing the reason for the
new models, Bhandari said that potential buyers were apprehensive as they
believed that a scooter has to look like a scooter and must carry more weight at
higher speeds. “To a common user, performance and affordability is important.
It does not matter what fuel is being used or no fuel is being used,” he added.
Ganesh Mahalingam, managing director of Ultra Motors Co., another entity that
manufactures e-bike in joint venture with Hero Electric of Hero Cycles group,
says that they too are working on a faster electric vehicle that would have a
speed of about 50-70kmph. “It would take us six more months but remember
that the electric bike market has come of age only in last six months as, unlike
in the west where e-bike is a lifestyle product and for some an environment
friendly technology, in India it is an economical mode of transportation.
Primarily it is an aam admi (common man) vehicle as it is 10 times cheaper to
operate an electric two-wheeler that the traditional petrol bike,” Mahalingam
said.
Hero Cycles Ltd, like Electrotherm, launched its range of Hero electric ultra-
powered electric two-wheelers in seven variants of e-bikes and e-scooters
branded as Hero Electric and priced between Rs14,300 and Rs19,000. The e-
scooters are in the range of Rs22,000-28,000. With no organized body to
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represent these manufacturers, industry players guess that there are between 75
and 80 players manufacturing e-bikes in India.
Still, key hurdles remain for the e-bike industry.One of the major issues is that
many small players are flooding the markets with a product that doesn’t meet
statutory requirements. “They are not supposed to have a speed of over 25kmph,
but many do as they use a motor of higher capacity. Some of them launch their
vehicle and also give warranty but do not have adequate dealer or service
network. They also do not have spare parts. All this creates a very negative
image in the minds of people and can badly affect the growth of this industry in
the medium and long run,” claims Bhandari.
Electric bike manufactures are hoping that the creation of a strong dealer
network and service support will help make a dent in the conventional two-
wheeler market.
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4. COMPANY PROFILE:
The crowning glory of the company’s remarkable success is the fact that now it
has become a full fledged limited company i.e GENXT Power India Ltd. It has
been always believed customer as an important stock holder in business.
Therefore consumer awareness is of prime importance to the organization. The
objective of the study was to know about the awareness of electric bikes among
the people and what is the perception of the users about the bikes and to explore
how the sale of electric bike can be increased
GENXT POWER (INDIA) LIMITED , was incorporated on September 26,
2002, having its registered office in Mumbai and its manufacturing unit at
Vasai. Genxt has assembled various innovative technologies to manufacture the
first Electric Two-wheeler to serve the personal and commercial need of the
prospective Indian consumer.
Genxt Power India Ltd, is a Mumbai based public limited company in the
business of manufacturing and marketing of electric vehicles. It has been in the
business of manufacturing and selling Electric Bikes since 2002. Main aim of
the company is to provide cost- effective, environmentally friendly, stress-free,
personal transport for work and recreation.
As one of the well-known and professional manufacturers and exporters of
electric bikes field, we are dedicated to producing the highest quality electric
bicycles and tricycles as well as top normal bicycles not electric, the company
uses only quality parts putting all our bikes together! Company is committed to
providing its customers with the best quality and after service which will lead to
our client's flourish development. Meanwhile, the company always focus on the
details and ready to make any slightest changes which are required to meet our
client's satisfaction. Because it deeply realize that the ability to dominate the
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market for electric bicycles will be won in the small details. All the production
procedures strictly comply with ISO 9001-2000 standards.
The company has its own IPS Technology (Integrated propulsion system). The
company draws great strengths from its technological developments and patents
in the related fields.
Patents:
Genxt holds patents for ‘Lead Plastic Composite grid for Rechargeable Lead
Acid Accumulator (battery), ‘Inverter Circuit’, and ‘Rear Guard’ under Paris
Convention.
Battery Technology
The company possess Patents for Plastic grid Bi-Polar Batteries which are
designed to get charged to 90% of its capacity in about 20 minutes.
Charger Technology
The float cum boost technology has been used in our chargers so that when the
charger is connected to the battery the output first goes to the boost charging
mode and thus the battery will charge faster unlike that in a plain float charger.
Mechanics and Mechanical design
The world patented product ‘Rear Guard’ prevents a vehicle from rolling back
on slope. The concept of this patent is used in drive mechanism of our electric
vehicles. A four stroke IC engine without piston and cylinders is also developed
for the hybrid model of our Ev’s.
The most important differentiator of our technology is high density power
batteries, fast charging mechanism and dependable and reliable electronic
gadgets like charger and controller.
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Future Plans
The Company plans to introduce variants of electric vehicles in 2 and 3 wheeler
segment and also wish to foray in Hybrid vehicles.
VISION, MISSION & QUALITY POLICY:
Vision
“To create an economically viable, noise and pollution free environment with
the launch of battery powered Electric two wheeler and to be product leader
through the state of art manufacturing technologies & processes”
The Quality Is the Essence of Business; the Credibility Is the Way to Succes
Mission
Develop and provide metallurgical equipment, products and service at
competitive prices, integrating best manufacturing practices and providing
innovative and eco friendly technologies and products for the benefit of the
society.
Core Values:
• Business ethics
• Customer Focus
• Professional pride
• Mutual Respect
• Speed and innovation
• Excellence in manufacturing
• Total quality
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Corporate Objectives:
Business Portfolio Growth:
o To further consolidate Genxt 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.
o To use customer feedback for design improvement and new product
development.
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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.
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.
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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
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PRODUCTS PROFILE:
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Tricycle Freedom Buggy
AREA OF OPERATION:
GENXT POWER INDIA LTD is mainly situated in Mumbai. The company was
started in 2003 and it is gradually expanding nationally and globally. In
Karnataka the company markets it’s through the authorised consignee
Mahashoda Marketing, Hubli who market the bikes through Distributors
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situated in Gadag, Dharwad, Bagalkot, Davangere, Shirsi etc and it is still
expanding its bases to other urban areas.
COMPETITORS:
Electrotherm India Limited: Manufacturer, exporter and supplier of electric
bikes, hybrid electric bikes, hybrid electric vehicles, YO bykes, YO exl bykes,
YO speed bykes, battery bikes, no petrol bikes, YO electron ER, YO style, YO
electric bikes and YO smart.
Emmel Wheelers: Manufacturer and supplier of electric bike, electric powered
bike, battery operated electric bike, rechargeable electric bicycles, eco friendly
electric bicycles and two wheeler electric bicycles.
Euro II Services: Distributor of a range of electric bikes.
Paradise Electro Auto: Manufacturer, supplier and exporter of electric bike.
Mankoo Manufacturing Co: Manufacturer and exporter of electric bikes.
Vijaya Value Electric Pvt. Ltd: Deals in manufacture of bike, electric bike,
electronic bike, self start electric bike, eco friendly bike and electric two
wheeler. Also supplies electric scooter, electronic scooter and self start two
wheeler.
Crazy E- Bike: Leading exporters and manufacturers of electric bike, high
speed electric bike, stylish electric bike, electric motorized bike, electric power
bike, electric powered bike, electrical bike, electronic bike and battery operated
bike.
Hero Electric: One of the India’s top Manufacturers of electric bikes.
S. L. S. S. Group: Wholesale exporter of electric bike.
Total Income 11245.1 16868 22490.3 28112.8 28112.8
Questionnaire
Dear sir/madam,
I am a student of “M.S Ramaiah institute of technology” pursuing my M.B.A program and as a part of curriculum, I am conducting a survey on “Consumer awareness and Perception towards Electric Bikes”. I request your free and genuine response to the following questionnaire. Information provided by you will be kept confidential and used for academic purpose only.
Personal Details:
Name:
Age:
Occupation:
Questionnaire:
1. Are you aware of Electric Bikes?
. Yes No
2. How did you come to know about Electric Bikes?
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a. News paper/magazine b. Television c. Internet d. Friends e. Others (specify)
3. Which bike are you using presently?
a. Electric bike b. Conventional bike
If you are using conventional bike then please answer questions from 10-15.
4. Which of the following factors encouraged you to buy Electric bikes?
a. Environment friendly
b. Less running cost
c. Safety
d. No registration
e. Others (specify)
5. Did advertisement influence your buying decision?
a. Strongly agree
b. Agree
c. Neutral
d. Disagree
e. Strongly disagree
6. What do you feel about price of the Electric Bikes? a. Very high b. High c. Moderate d. Low
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e. Very low
7. What is your opinion towards mileage of Electric Bikes as compared to conventional bikes?a. Very good b. Good c. Average d. Bad e. Very bad
8. What is your opinion towards speed of Electric Bikes as compared to conventional bikes?
a. Very high b. High c. Moderate d. Low e. Very low
9. Are you convinced about Electric Bike benefits? Yes No
10. Would you like to suggest electric bike to your friends?
Yes No
11. Is the present promotional activity about Electric bike sufficient enough for you to make the purchasing decision?
Yes No
12. Which of the following factors do you think are responsible for lower market share of Electric Bike as compared to Conventional bike?
a. Appearance
b. Speed
c. Battery life
d. Uncertainty of electric bike technology
13. Which of the factors do you think that prevents you from making the decision of purchasing the electric bikes?
a. Expensive
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b. Unaware
c. Not convinced
d. Non availability
e. Others (specify)
14. Is after sales service availability affecting your purchasing decision of electric bikes?
Yes No
15. Are you aware of electric bike benefits?
Yes No
16. After knowing benefits of electric bike are you willing to purchase it in future?