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Electric Vehicle Market - India June 2010


Executive Summary Market

Electric vehicle (EV) market in India is at a nascent stage and is expected to grow by 45% over 2008-09 and 2009-10 Comprises of electric cars, three wheelers and electric two-wheelers Electric two-wheelers dominate the market with 97.5% of the market Drivers:

Drivers & Challenges

Drivers:

- Increasing crude oil prices

- Low performance

- Government initiatives

- High price

- Low maintenance cost

- Lack of supply of spare parts

- Increasing demand for green cars in foreign

market

- Manufacturers providing incentives to attract consumers

Growing number of players are entering the market

Trends

Automobile firms are launching EV version of conventional car models Increase in number of joint ventures, mergers and acquisitions EV players are seeking carbon credits Most of the players operates in the electric two wheeler segment only one company operates in the electric car segment

Competition

Major Players

Reve Electric Car Company

Electrotherm India Ltd.

Kabirdass Motor Ltd.

Hero Electric Ltd.

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Electric vehicle market in India is still at a nascent stage but is growing rapidly Market Overview

Market Size & Growth - EV

• Electric vehicle (EV) market in India is at a nascent stage and is expected to grow by a% over 20-- and 20--

Units z

• Comprises of electric cars, three wheelers and electric two-wheelers

o y

• Compared to a c% growth in conventional twowheeler, sales of electric two-wheelers is expected to grow by d% to reach e over 20- to 20-Electric two-wheelers comprise of f% of the overall two wheeler segment

• Electric car market is g-h% of the overall car market and is expected to account for i% of the market by 20-• Women constitute j% of the total buyer’s fraternity of electric cars

a

% n x w 0 20--

20--e

Segmentation in the EV Market

• Electric cars are ideal for covering short distances and negotiating congested and narrow roads due to size and feasibility

Electric Car & 3 wheelers Electric Two-Wheelers L%

M%

• Compared to petrol and diesel-run vehicles, electric vehicles are k% cleaner and have zero emissions

ELECTRIC VEHICLE MARKET IN INDIA.PPT

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Drivers & Challenges - Summary

Challenges

Drivers Increasing crude oil prices

Low performance

Government initiatives

High price

Increase in demand for green cars in foreign market

Lack of supply of spare parts

Low maintenance and operational cost Manufacturers providing incentives to attract consumers

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Key Trends - Summary

EV players are seeking carbon credits

Growing number of players are entering the market

Key Trends Increase in number of Joint ventures, mergers and acquisitions

Automobile firms are launching EV version of conventional car models

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Competition - Overview Players

Electric Two-wheelers

Electric Threewheelers

Electric Cars

Company A Company B Company C Company D Company E Company F Company G Company H Company I Company J Company K Company L

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Players in the Market (3/8) Company Snapshot: Reva Electric Car Company Corporate Information Headquarters Founded Products Key People

Business Overview • It was formed as a joint venture between Maini Group of India and AEV LLC of California

Bangalore 19-Electric cars

Chetan Maini - Deputy Chairman

• In May 20--, Mahindra & Mahindra bought p% controlling stake in Reva. Following this acquisition the Company will be called Mahindra Reva Electric Vehicle Company Ltd. • The enterprise value of Reva is expected to be INR q bn

Future Plans • In India, REVA aims to be have its products present in r cities by 20-• The Company sells its products and conducts test marketing in s countries across Europe, Asia and S America. It is looking to begin distribution in t to u countries by 20-- to establish REVA as a global electric vehicle brand • It is building a new environment friendly assembly plant in Bangalore with a capacity of v units per year that is due for completion by end-20-• Exploring a model of franchise manufacturing to access global markets

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Electric Vehicle Market in India 2010