Best Ideas 2020 features all the nominated entries submitted under ‘Submit your Idea’ category. All the entries consist of innovative solutions or propositions for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage.
Plug-in Hybrid Vehicle Kits
Explain your idea in details:
In the Indian automobile industry, electric vehicles are a new entrant. However, the transition from travelling from fuel mode to electric mode is not easy. But people encounter many problems as follows:- 1. Range anxiety: - affordable electric cars in India have a range limited to 120-140 km. 2. Lack of charging infrastructure. 3. More charging time. 4. IC engines also have issues. 5. Cost of travelling in IC Engine cars is more. 6. Mileage of IC Engine cars drops significantly in the city. IC engine cars have extremely low efficiency. 7. Air Pollution in the cities. 8. RIDE Quality is low (NVH characteristics). To encounter this, we have surveyed people from different sectors and collected the data for building the solution, which solves their problem. Therefore, we came up with a new concept of retrofitting the vehicle with a plug in hybrid electric vehicle kit (PHEV Kit). With the help of this kit, we can convert a passenger vehicle into a hybrid vehicle. By virtue of this, we can travel on electricity as well as fuel. As driving electricity is inexpensive and eco-friendly, customer can save the cost of commuting and maintenance while travelling. Our main activity is retrofitting passenger vehicle with PHEV kits. We assemble the parts of the hybrid powertrain. We design the components required for the smooth working of the mechanical components and convert the vehicle into a plug in hybrid. The motor system and the fuel engine system works independently. We can travel on either of the modes individually and hence extend the mileage of the vehicle. On calculations, we can reduce the operating cost of the vehicle by 68.13 percent and reduce the mass of emissions by 72.46 percent.
Expected impact of your idea on sustainable development
Sustainable development: - Using our technology, we can lower the tailpipe pollutants emitted from the vehicle. We can lower the mass of emissions by 72.46 %. In this way, we control the emissions of Greenhouse Gases. Targets: - Our aim after entering in the market is to acquire 250 customers till the end of 6 months. Following is the list of sales goals as per sales graph in India. Expected sales projection in 2020- Month: - 6 Number of Sales: - 250 Revenue: - Rs. 17500000 Margin: - 11.5% Profit: - Rs. 2012500 We plan to acquire 250 customers, gaining the revenue of Rs. 17500000. Our margin is 11.5%. Thus, net profit of Rs. 2012500.
Plans for implementation and sustainability
Our kit works as an 'Add on' feature in the vehicle. Due to the customer characteristics, we are planning to target the following customers: - 1. Commutation service providers: - There are 1.9 million taxi in India. 2. Used car buyers: - The sales of the used car buyers is 1.2 times the sales of new car buyers. The CAGR of this industry is going to increase to 22.5 % by 2020-25. which is 15% currently. We will approach our customers through dealership channels. It will help us gaining trust, help us accelerate with a flourished model for customers & easy expansion. Maintaining the affordability of the kit The cost of the kit depends largely upon the cost of batteries. High cost often questions the affordability of the PHEV Kit. Thus, we are specifically developing the batteries for the daily commutation purpose only. In this way, we are able to price the cost of the PHEV Kit to Rs. 90,000-95,000. Financing Source: - We have bootstrapped our business with Rs. 1,00,000. We are looking for Government grants and Peer to peer lending for gaining the hold in the automobile market in nearby cities.
Name: - Ravindra Joshi Age: -20 years Education: - Pursuing Final Mechanical Engineering. College: - D. Y. Patil College of Engineering, Pune. My self: - I have a deep interest in engineering, design thinking and business management. I help in creating conducive environment among people who are working with me. I raise the importance of work in their life. I let myself as well as others to focus on working systematically at a certain pace. I had many difficulties in the past, which forms the stepping-stones towards a wider segment of knowledge. Along with experiences, some business school courses helped me for developing a mindset for dealing with situations in life. Skills: - 1. Business Management 2. Scientific Research in Automotives 3. Equity Investor 4. Public Speaking 5. Design Thinking 6. Negotiating Interests: - Reading, Networking, report/proposal writing. trekking. I have participated in many summits, courses. I like to learn new skills, share ideas and talk about new innovative technologies.