Answer to Question #209770 in Management for arnav

Question

  Indicate three strategies which the electric vehicle manufacturers can apply to capture greater markets in India. (6)

Answer 1

The following are strategies that the electric vehicle manufacturers could apply to capture more significant markets in India:

a)     Reducing the cost of electric vehicle batteries: The electric vehicle manufacturers should reduce the batteries’ prices. Electric car batteries are one of the most expensive parts of the car. It makes it difficult for the consumers to maintain the vehicle. Reducing the batteries’ cost would lead to capturing more significant markets in the country.

b)     Electric vehicles should be standardized across the country to enhance adequate installation of charging stations. Lack of electric vehicle standardization impacts the installation of charging stations due to diversity in electric cars, which hampers the growth of electric vehicles. Thus, electric car standardization would capture more significant markets due to the increased electric charging station market.

c)     Electric vehicle manufacturers should involve the government in their activities. Such that, the relevant authority should enact favorable government regulations for vehicles to reduce emissions. The government should also set up hydrogen fuel stations. Hydrogen complements electric cars. It is significant since it is a clean and flexible energy source that supports zero-carbon energy strategies, almost zero emissions, and is long-lasting. Applying this strategy would capture immense markets in India.