electric dreams - reva electric car company - "connect the dots"
DESCRIPTION
Solved case of RECC from the book "Connect the dots"TRANSCRIPT
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ELECTRIC DREAMS
REVA Electric Car Company
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CHETAN MAINI
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Story…
Born in Bangalore, was crazy about all kinds of electronics
Schooled at Bishop Cottons, Bangalore
Father, Sudharshan Maini recognized his passion and gave him all the support
Snubbed IIT to go to the states (Bachelors - University of Michigan)
Won Inter University competition (1st year)
Worked at GM as an intern
3rd, World Solar Championship (Australia)
Joined Technar (Dave Bell, s/o Dr. Bell)
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Story continued…
Masters – Stanford University
Returned to Amerigon (Lon Bell)
Cost effective city mobility in India, China, etc
Maini’s & Bell’s started REVA in 1994
REVA – “A new begiinning”
1996 – First car shipped to India
1997 – Automotive Research Association of India (ARAI)
1999 – Moved back to Bangalore
2001 – Launched 1st electric car in India
2010 – Acquired by Mahindra & Mahindra
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OPPORTUNITIES
Family recognized passion & gave all support
Cost effective city mobility in India, China, etc
Increasing pollution levels
Subsidy for electric vehicles
Then niche market
Support of banks (15 Cr)
“Leaders Quest”
Free parking & charging in UK
Higher margins in exports
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IMPACT
Reduced pollutionBrought electric cars to IndiaReduced trafficMixed customersEnvironment friendlyFashion statementIndia recognized
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OBSTACLES
Travel – India & U.SWorking for Amerigon drawing salaryOffers with 2x salary had to be turned downNew entrants due to market potentialOil was cheap at that timeCharger failureMass hiringR&D issues – (inexperience)Taxes doubled for electric cars & reduced for normalSubsidy withdrawnUnknown companyLondon Climate
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RISKS
No formal agreement till 1999 (only MOU)
Family investment
Offers turned down
No success example during that time
Spent all time and energy on this
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INNOVATION
Superior technology
In house parts
10 patents in energy management
Car with military like specs
Hired ones with passion and trained (inexperience)
Got IIT’s, IISC’s & major companies involved for awareness
Home servicing model – On board computers to diagnose
Made independent business units (Chassis, plastics, etc) and gave it out to VOLVO & Leyland
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RECEPTION & CRITICISM
Criticized by Top Gear for being: Underpowered
Unsafe
Ugly
Quadra cycle (U.K)Batteries – 50K, 2 – 3 yearsHigh price paid initially but beneficial in the long run – “Consumerdaddy.com”
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THANK YOU