Executive Summary Executive Summary: The project report on the “Market Survey of E Bikes in Pune City” is based on opinion and perception of people from Sinhgad road and karve road, Pune toward e bikes. The major objective of these project is to study the people’s awareness about e bikes and factors that influence the purchase of e bikes to know these market research was carried in Sinhgad road and karve road, Pune Maharashtra. The research was conducted through primary data collected by visiting the shops and meeting the general public on karve road and Sinhgad road in Pune city through well farmed questionnaire, of which are detailed analysis was done using various statically analysis tools like SPSS, and MS- excel. The questionnaire contains various aspects like their profession, age, contact details and other information. From extensive analysis of primary data, interpretation is drawn for the questionnaire and finally concluded. Certain recommendations are also made to customer and the e bike manufacturing company to help the company improve their sales and the customer to know the features and usages of electric bikes from my project. I came out with the conclusion that prospects are aware about the e bikes and could purchase the e bikes if it matches with fuel bike in speed and power and maintenance. 1 | Page
Transcript
Executive SummaryExecutive Summary:
The project report on the “Market Survey of E Bikes in Pune City” is based on opinion and perception of people from Sinhgad road and karve road, Pune toward e bikes. The major objective of these project is to study the people’s awareness about e bikes and factors that influence the purchase of e bikes to know these market research was carried in Sinhgad road and karve road, Pune Maharashtra.
The research was conducted through primary data collected by visiting the shops and meeting the general public on karve road and Sinhgad road in Pune city through well farmed questionnaire, of which are detailed analysis was done using various statically analysis tools like SPSS, and MS- excel.
The questionnaire contains various aspects like their profession, age, contact details and other information. From extensive analysis of primary data, interpretation is drawn for the questionnaire and finally concluded. Certain recommendations are also made to customer and the e bike manufacturing company to help the company improve their sales and the customer to know the features and usages of electric bikes from my project.
I came out with the conclusion that prospects are aware about the e bikes and could purchase the e bikes if it matches with fuel bike in speed and power and maintenance.
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IntroductionTwo Wheeler Industries in India:
Two wheelers have a special place on the Indian roads. They are extremely popular and versatile not only as passenger carriers but also as good carriers. India is the second largest producer of two-wheelers in the world. In the last few years, the Indian two-wheeler industry has seen spectacular growth. The country stands next to China and Japan in terms of production and sales respectively.Majority of Indians, especially the youngsters prefer motor bikes rather than cars. Capturing a large share in the two-wheeler industry, bikes and scooters cover a major segment. Bikes are considered to be the favorite among the youth generation, as they help in easy commutation. Large variety of two wheelers is available in the market, known for their latest technology and enhanced mileage. Indian bikes, scooters and mopeds represent style and class for both
men and women in India. Indians prefer the two wheelers because of their small manageable size, low maintenance, and pricing and easy loan repayments. Indian streets are full of people of all age groups riding a two wheeler. Motorized two wheelers are seen as a symbol of status by the populace. The two wheelers in India are the second largest producer and manufacturer of two-wheelers in the world. It stands next only to Japan and China in terms of the number of two-wheelers produced and domestic sales respectively. Indian two-wheeler industry has got spectacular growth in the last few years. Indian two-wheeler industry had a small beginning in the early 50's. The AutomobileProducts of India (API) started manufacturing scooters in the country. There are many two-wheelerManufacturers in India. Major players in the conventional 2-wheeler industry are Hero Motors Corp Ltd (HMCL), Bajaj Auto Ltd (Bajaj Auto) and TVS Motor Company Ltd (TVS).
Demand DriversThe demand for two-wheelers has been influenced by a number of factors over the past five years. The key demand drivers for the growth of the two-wheeler industry are as follows:
Inadequate public transportation system, especially in the semi-urban and rural areas Increased availability of cheap consumer financing in the past 3-4 years Increasing availability of fuel-efficient and low-maintenance models Increasing urbanization, which creates a need for personal transportation Changes in the demographic profile Difference between two-wheeler and passenger car prices, which makes two-wheelers
then entry level vehicle Steady increase in per capita income over the past five years and Increasing number of models with different features to satisfy diverse consumer
India is the second largest producer of two-wheelers in the world. In the last few years, the Indian two-wheeler industry has seen spectacular growth. The country stands next to China and Japan in term of production and sales respectively. Majority of Indians, especially the youngsters prefer motor bikes rather than cars. Capturing a large share in the two-wheeler industry, bikes and scooters cover a major segment. Bikes are considered to be the favorite among the youth generation, as they help in easy commutation. Large variety of two wheelers is available in the market, known for their latest technology and enhanced mileage. Indian bikes, scooters and mopeds represent style and class for both
men and women in India.
About Electric Vehicles
During the last few decades, environmental impact of the petroleum-based transportation infrastructure, along with the peak oil, has led to renewed interest in an electric transportation infrastructure. Electric vehicles differ from fossil fuel-powered vehicles in that the electricity they consume can be generated from a wide range of sources, including fossil fuels, nuclear power, and renewable sources such as tidal power, solar power, and wind power or any combination of those.
An electric vehicle (EV), also referred to as an electric drive vehicle, uses one or more electric motors or traction motors for propulsion. Three main types of electric vehicles exist, those that are directly powered from an external power station, those that are powered by stored electricity originally from an external power source, and those that are powered by an on-board electrical generator, such as an internal combustion engine (a hybrid electric vehicle) or a hydrogen fuel cell. Electric vehicles include electric cars, electric trains, electric lorries, electric aeroplanes, electric boats, electric motorcycles and scooters and electric spacecraft. Proposals exist for electric tanks, diesel submarines operating on battery power are, for the duration of the battery run, electric submarines, and some of the lighter UAVs are electrically-powered.
Electric vehicles first came into existence in the mid-19th century, when electricity was among the preferred methods for motor vehicle propulsion, providing a level of comfort and ease of operation that could not be achieved by the gasoline cars of the time. The internal combustion engine (ICE) is the dominant propulsion method for motor vehicles but electric power has remained commonplace in other vehicle types, such as trains and smaller vehicles of all types.
A hybrid electric vehicle combines a conventional (usually fossil fuel-powered) powertrain with some form of electric propulsion. Common examples include hybrid electric cars such as the Toyota Prius. The Chevrolet Volt is an example of a production Extended Range Plug-In Electric Vehicle.
Electric motor
The power of a vehicle electric motor, as in other vehicles, is measured in kilowatts (kW). 100 kW is roughly equivalent to 134 horsepower, although most electric motors deliver full torque over a wide RPM range, so the performance is not equivalent, and far exceeds a 134 horsepower (100 kW) fuel-powered motor, which has a limited torque curve.
Usually, direct current (DC) electricity is fed into a DC/AC inverter where it is converted to alternating current (AC) electricity and this AC electricity is connected to a 3-phase AC motor. For electric trains, DC motors are often used.
Electromagnetic radiation
Electromagnetic radiation from high performance electrical motors has been claimed to be associated with some human ailments, but such claims are largely unsubstantiated except for extremely high exposures. Electric motors can be shielded within a metallic Faraday cage, but this reduces efficiency by adding weight to the vehicle, while it is not conclusive that all electromagnetic radiation can be contained.
Mechanical
Electric motors are mechanically very simple. Electric motors often achieve 90% energy conversion efficiency over the full range of speeds and power output and can be precisely controlled. They can also be combined with regenerative braking systems that have the ability to convert movement energy back into stored electricity. This can be used to reduce the wear on brake systems (and consequent brake pad dust) and reduce the total energy requirement of a trip. Regenerative braking is especially effective for start-and-stop city use.
They can be finely controlled and provide high torque from rest, unlike internal combustion engines, and do not need multiple gears to match power curves. This removes the need for gearboxes and torque converters.
Electric vehicles provide quiet and smooth operation and consequently have less noise and vibration than internal combustion engines. While this is a desirable attribute, it has also evoked concern that the absence of the usual sounds of an approaching vehicle poses a danger to blind, elderly and very young pedestrians. To mitigate this situation, automakers and individual companies are developing systems that produce warning sounds when electric vehicles are moving slowly, up to a speed when normal motion and rotation (road, suspension, electric motor, etc.) noises become audible.
Energy efficiency
Electric vehicle 'tank-to-wheels' efficiency is about a factor of 3 higher than internal combustion engine vehicles. Energy is not consumed while the vehicle is stationary, unlike internal combustion engines which consume fuel while idling. However, looking at the well-to-wheel efficiency of electric vehicles, their total emissions, while still lower, are closer to an efficient gasoline or diesel in most countries where electricity generation relies on fossil fuels.
It is worth noting that well-to-wheel efficiency of an electric vehicle has far less to do with the vehicle itself and more to do with the method of electricity production. A particular electric vehicle would instantly become twice as efficient if electricity production were switched from fossil fuel to a wind or tidal primary source of energy. Thus when "well-to-wheels" is cited, one should keep in mind that the discussion is no longer about the vehicle, but rather about the entire energy supply infrastructure - in the case of fossil fuels this should also include energy spent on exploration, mining, refining, and distribution.
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About E Bikes: With the hike in the automobile fuel prices straining your budget, it is only wise to look at new source of economical, pollution-free, safe and easy to handle mean of personal transport. E bikes are battery-operated, economical, and Zero Tail Pipe Emission two wheelers. E bikes are based on electrical technology where the rechargeable battery replaces the conventional engine. E bikes can be charged as easily as a mobile phone wherever electric power connection is available. Once fully charged E bikes can travel up to 75kms in one charge depending on the load, speed & road condition. What’s more, for a fractional cost of just Rs 50 E bikes can runs for 500kms. This means forever freedom from the expensive petrol.Unlike petrol two-wheelers, the eco-friendly E bikes don’t add to your city’s air-pollution and noise-pollution. This is because E bikes are battery-operated Zero Tail Pipe Emission two wheelers (ZEV’s), which prevent harm to the environment and make the earth a better place to live in.With increasing global warming and petrol prices, an alternative is needed to fulfill our transportation needs. E bikes offers this alternative - an economical, eco-friendly and convenient option to commute.
Review of literatureReview of Literature:
The various articles, previous reports used for this projects has come from various sources Business Standard Newspapers, Mint Newspapers
Magazine Articles:
“Is India Ready for a Green Drive” from “The Journal of AIMA (All India Management Association) Indian Management”, Vol.51 Issue Dated 6 June 2012.
This article is about the current motto ‘GO GREEN’ which is followed by all leading economies. It has a brief description about US President Obama’s vision of targeting One million Electric cars on US road by 2015.
It tells us about the various departments of Government of India formed for promotion and adoption of Electric Vehicles.
The Ministry of New and Renewable Energy has been the front runner formed for promotion and adoption of Electric Vehicles.
In November 2010, the ministry formulated The Alternative Fuels for Surface Transportation program under which 20% subsidy was provided t manufacturers.
Dr. Manmohan Singh announced an apex body, the National Council for Electric Mobility (NCEM), the key objective of the NCEM is to provide sustainable electric mobility to make electric vehicles a viable alternate vehicle by ensuring adequate support infrastructure for sufficient dissemination of electric vehicles.
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The Union Budget propped full exemption from basic customs duty and a concessional rate of excise duty on batteries imported by electric vehicles manufacturers.
All this developments highlights the growing emphasis of Indian Government on encouraging the growth of electric vehicles.
It is seen that electric vehicles are becoming popular among women and students who don’t have stringent commuting requirements. It is predicted that once the supportive government policies are formulated the market for these vehicles would become developed. India has a maximum market potential owing to an established auto component infrastructure, low manufacturing and R&D costs, mechanical hardware availability, high urban congestion and the presence of a large domestic market.
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Article from business standard:
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Statement of Research ProblemStatement of Research Problem:
With the increase in air pollution in urban areas and scarcity of fuel electric bike is in great demand but not in use by most of the people because of lack of awareness thus the purpose of these study is to study the awareness level of e bikes and factors that influence the customers towards buying of e bikes or dropping of e bikes.
Objective of studyProject Tittle: Market survey of e bikes in Pune city.
Objectives of Project:
1. To know the public preference of e bikes in Pune city.2. To know the measures to increase the usability of e bikes.
Research Design and Methodology
Research Design and Methodology:
What is research?
Research can be defined as a scientific and systematic search for pertaining information on a specific topic. We define research as the systematic design, collection, analysis and reporting of data and findings relevant to a specific situation facing the company. The main aim of research is to find out the truth which has not been discovering yet.
Objectives of Research
The research has mainly three objectives-
To know the awareness of e bikes in Pune city.
To know the factors that influence the purchase of e bikes in Pune city.
To know the perception of people toward e bikes in Pune city.
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Type of Research:
In this project I considered Descriptive Research.
Descriptive research includes surveys and fact finding enquiries of different kinds. The major purpose of description of the state of affairs as it exists at present. Descriptive research methods are used when the researcher wants to describe specific behavior as it occurs in the environment. There are a variety of descriptive research methods available, the nature of the question that needs to be answered drives which method is used. Traditionally, descriptive research involves three main categories: observation, case studies, and surveys.
I have used the descriptive research as I want to describe the behavior of the customer toward the real estate investment and for doing that I have used the survey technique to collect the responses through questionnaire.
Research Design :
A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance’s to the research purpose with economy in procedure. The design includes an outline of what the research will do from writing the hypothesis and its operational implications to the final analysis of data. It helps to tackle the problem of bringing various phases of research under control. The research design helps to design the decision with respect to:
What type of data is needed?
Where the data could be found?
What period of time study includes?
How much material will be needed?
What technique of gathering data will be adopted?
How will data be analyzed?
Sample Design:
Study of the geographical area comprising of Sinhgad road and Karve road, Pune were undertaken. It has tried to cover shops and public travelling on streets in these regions. Generally I met with the shopkeepers and entrepreneurs. The sample size consists of 300 prospects.
Sampling Technique:
Population sampling is the process of taking a subset of subjects that is representative of the entire population. The sample must have sufficient size to warrant statistical analysis. Sampling is done usually because it is impossible to test every single individual in the population. It is also done to save time, money and effort while conducting the research.
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Types of Sampling
Non-Probability Sampling
In this type of population sampling, members of the population do not have equal chance of being selected. Due to this, it is not safe to assume that the sample fully represents the target population. It is also possible that the researcher deliberately chose the individuals that will participate in the study.
Non-probability population sampling method is useful for pilot studies, case studies, qualitative research, and for hypothesis development. This sampling method is usually employed in studies that are not interested in the parameters of the entire population. Some researchers prefer this sampling technique because it is cheap, quick and easy.
Non-Probability Sampling
Convenience Sampling
Consecutive Sampling
Quota Sampling
Judgmental Sampling
Snowball Sampling
Probability Sampling
Simple Random Sampling
Systematic Sampling
Stratified Sampling
Cluster Sampling
Disproportional Sampling
Probability Sampling
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In probability sampling, every individual in the population have equal chance of being selected as a subject for the research.
This method guarantees that the selection process is completely randomized and without bias.The most basic example of probability sampling is listing all the names of the individuals in the population in separate pieces of paper, and then drawing a number of papers one by one from the complete collection of names.The advantage of using probability sampling is the accuracy of the statistical methods after the experiment. It can also be used to estimate the population parameters since it is representative of the entire population. It is also a reliable method to eliminate sampling bias.
My research was bounded by time, money and workforce and because of these limitations, it was almost impossible for me to randomly sample the entire population and it became necessary to employ Non-Probability Sampling technique. In non-probability I used Convenience Sampling as it is the most common of all sampling techniques. With convenience sampling, the samples are selected because they were easily accessible to me. Subjects are chosen simply because they are easy to recruit. This technique is cheapest and least time consuming.
Sources and Method of Data Collection:Source of data:
Data is collected from the shopkeepers and random people found in karve road and Sinhgad road.
By mailing the questionnaire via google web form and survey monkey to known people living in karve nagar and Sinhgad road
Data Collection Methods:
Primary data are collected through questionnaire method comprising both close ended and open ended which is design to keep in view the objective of the study.
Secondary data is not used in this project for research purpose.
Methods of Analysis and Statistical Tools UsedMethod of Data analysis:
The data collected through questionnaire were feed into excel sheet then combined with data collected from online web forms. The data were then edited, coded and tabulated then after submitted for further intervention.
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Statistical tools used for research:
Percentage analysis Bar graph and pie chart analysis Weighted average
Scope of the Study:The project undertaken makes me able to improve my professional skill and expertise. It helped me know e bikes and its importance. It increased my confidence and research skills. As for as e bike industry is concerned, this project helps companies to know its prospects awareness and perception about the e bikes.
Data Interpretation and Analysis:
People’s awareness about e bikes
Frequency PercentagesValid
PercentagesCumulative Percentages
Yes 250 83.33 83.33 83.33
No 50 16.66 16.66 100
Total 300 100 100 100
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83 percent of the people are aware about e bikes whereas 17 of the people have never heard of e bikes
People’s awareness about the features of e bikes
Respondents Frequency
Low weight 150
Low running cost
100
Registration not required
25
Other 200
Total 475
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Yes83%
No17%
People awareness about e bikes
Yes No
Low weight;
150
Low run-ning cost;
100
Registration not required; 25
Other; 200
peoples awareness about features of e bikes
Low weightLow running costRegistration not requiredOther
Most of the respondents who are aware of e bikes are aware of basic features of e bikes like low weight, low cost and environmental benefits however very few respondents were aware of registration details.
Most of the respondents who were aware of e bikes were aware of hero and YO bike company however other manufacturers were not as popular as these two brands known to them.
Sources of information for e bikes
Respondents Frequency
News paper 100
TV commercials
125
Friends and relatives
50
Other 100
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News papper TV commercials Friends and relatives Other0
20
40
60
80
100
120
140
News papper; 100
TV commercials; 125
Friends and rela-tives ; 50
Other; 100
Sources of information for e bikes
Most of the respondents came to know about the e bikes through newspaper and TV commercials and few through other sources.
People who have seen advertisement of e bike
Respondents Frequency PercentagesValid
PercentagesCumulative Percentages
Yes 200 66.66 66.66 66.66
No 100 33.33 33.33 100
Total 300 100 100 100
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Yes 67%
No33%
people seen add of e bikes
Yes No
From 250 people who were aware of e bikes, 200 people have seen add of e bikes on TV commercial. Other have not seen add.
Effect of advertisement on buying decision of prospects for e bikes
Respondents Frequency PercentagesValid
PercentagesCumulative percentages
Strongly Agree
50 20 20 20
Agree 100 40 40 60
Neutral 25 10 10 70
Disagree 50 20 20 90
Strongly disagree
25 10 10 100
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Total 250 100 100 100
Strongly Agree
20%
Agree40%
Nuetral 10%
Dis-agree 20%
Strongly disagree10%
eFFECT OF ADVERTISEMENT ON BUYING DE-CISION OF PROSPECT FOR E BIKES
From the people who were aware about e bikes, most of the people agree that TV commercial has influence on the buying decision as far as the e bikes is considered.
Important features people look while purchasing a 2 wheeler
Appearance 250
Weight 100
Speed and handling
125
Cost 150
Mileage 250
Other 50
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Appearance Weight Speed and handling
Cost Milage Other0
50
100
150
200
250
250
100
125
150
250
50
IMPORTANT FEATURES THAT PEOPLE LOOK WHILE PURCHASING 2 WHEELER
Most of the respondents who wish to purchase or have purchased have consider appearance and mileage as the most important as compared to all the other factors.
PEOPLES RATING OF OF E BIKES TO CON-VECTIONAL BIKE
On an average the respondents have rated the e bike as 5 out of 10 as compared to the convectional two wheeler bike.
Factors for lower market share of e bikes as compared to conventional bikes
Respondents Frequency
Speed 200
Battery back-up
150
Appearance 50
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Speed
Battery back-up
Appearance
25 75 125 175 225Speed Battery back-up Appearance
Frequency 200 150 50
FACTORS RESPONSIBLE FOR LOWER MARKET SHARE OF E BIKES
Frequency
Almost all the respondents consider that low battery backup and low speeds are responsible for the poor sales of e bikes.
Limitations
Any research or study always has some limitations under which this has to be undertaken. This one too was not an exception. These limitations are poised by the environment some external and some inherent. This study has been conducted without most consideration to the adequacy of data and quality of information, though as mention earlier the reliance on the sources cannot be minimized to zero in context of precision. The limitation can be enlisted as here under:-
1. The perception level of the respondents. 2. Reliability of information collected from various public information sources such as
magazines and website. 3. Respondents are not willing to fill the questionnaire. 4. Very often the respondent do not express their true feelings, in such case their habit,
preference, practice, cannot be assessed correctly.
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5. Some of the respondents refuse to give the important information best known to them. However in spite of these limitations all efforts have been put to make the report correct, genuine, and fulfilling the objectives of the reports.
Findings:
1. Most of the people are aware of e bikes however they are not aware of all of its features.
2. People came to know about e bikes through advertisement on television commercials and newspaper since only couple of manufacturers are advertising on these medias most of the e bike manufacturers are unknown to them.
3. People looks for appearance, mileage and maintenance while purchasing e bike as e bikes has some battery maintenance issues it has not been as popular as conventional bike.
4. People don’t consider e bikes as alternative to fuel bikes as don’t matches with it in terms of speed and maintenance.
Suggestion and Recommendation:
On the basis of this study, the following suggestions have been made to make the help in sales of electric bike more effective: -
1. There is need to bring more improvements on speed, battery backup, appearance and various others feature of electric bike.
2. Different manufacturer need to run more marketing campaign to bring awareness about the e bikes.
3. Manufacturer/dealer should be given timely information of the governments changed policies regarding two wheeler sector like registration and other document relaxation.
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Conclusion :
This research identified and evaluated the consumer perception toward various factor about electric bike. The results of this research show that there is a combination of positive and negative effect of that factor on consumer perception. Here most of the respondents are consider the cost, maintenance, appearance and the mileage while purchasing a new bike, so there are ample potential to electric bike in two wheeler sectors. But their battery is one of the factor which is effected the sales of electric bike because its performance is not so good.
BIBLIOGRAPHY:
Kothari C.R. - “Research Methodology” New Delhi Tata McGraw Hill In (95-102). Kotler Phillip –“Marketing management “analysis, planning implementation and
control. Kotler Phillip – Marketing Management: A South Asian Perspective. Stephan Schiffman - The Ultimate Book of Sales Techniques. http://www.yobykes.in/ http://www.electrotherm.com/
Q2. What are the different features of e bikes are known to you? (You can select multiple options)
a. Low weightb. Low running costc. Registration not requiredd. Other
Q3. Which of the following e bikes manufacturer are you aware of? (You can select multiple options)
a. Ampere vehicleb. Hero ultrac. Yo bikesd. Ace motorse. Eko vehicles
Q4. How did you come to know about the e bikes? (You can select multiple options)
a. News paperb. T.V commercialsc. Friends and relativesd. Other
Q5. Have you seen the advertisement of e bike?
a. Yes b. No
Q6. Do advertisement affect the buying decision of e bike? (Rate it)
a. Strongly agree b. Agreec. Neutrald. Disagreee. Strongly disagree
Q7. Important feature you look while purchasing two wheeler?
a. Appearance b. Weight c. Speed and handlingd. Cost e. Mileage f. Other
Q8. How would you rate e bikes in comparison to convectional two wheeler vehicle? (Rate from 00-100)
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Best 100--------------------------------------------------------------------------------00 Worst
Q9. According to you which factors are responsible are lower market share of e bikes as compared to conventional bikes? (You can select multiple options)
