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Here’s how to get an electric vehicle dealership for a great earning opportunity

Here’s how to get an electric vehicle dealership for a great earning opportunity

Here’s how to get an electric vehicle dealership for a great earning opportunity
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By Anand Singha  Nov 24, 2022 6:26 PM IST (Published)

As India fast embraces EVs, everything electric makes sound business sense. But before embarking on an EV dealership, it's best to do some due diligence and get a hang of the market.

The modern world is fast transitioning to electric vehicles (EVs) as environmental concerns mount and fuel prices hit the roof. Following a recent uptick in sales, numerous startups as well as major manufacturers are now expressing interest in the EV industry. India is also experiencing a surge in EV launches, which have caught the public imagination. 

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A total of 3.13 lakh units were sold in 2021 across all sectors, according to statistics from the Union Ministry of Road Transport and Highways. As per a NITI Aayog report, the country plans to hold 30 percent of the market for electric vehicles by 2030.

Everything related to EVs is considered a good business proposition as the electric market grows in India. This opens the door for dealerships of electric automobiles as potentially lucrative business ventures.

How to prepare a dealership plan

  • Learn which EV segment — car, scooter or bike — and firms are eliciting maximum interest in the market. Depending on demand, the right kind of dealership would be a winning business idea.
  • Knowing your target market is a must for every dealer. By identifying the ideal customer, you should design your business around their wants.
  • Determine whether there is enough demand for your product using the market research you conducted for the dealership. You need to think about your product's appeal.
  • Requisites for EV dealership

    • A showroom of around 1,500-2,000 square feet, with at least five service bays, a godown to house the inventory, and enough room for operation.
    • Working on the showroom necessitates a competent staff. To get your message across to the public, you might also need to recruit a marketing staff.
    • There should be enough funds to cover the cost of hiring staff, paying for electricity and a generator, and other expenses for at least six months.
    • How to obtain a dealership

      • To obtain the dealership brochure, which contains all the information about their agreement and offer, first get in touch with the company's corporate office. However, information related to this is also available on the official website of the company.
        • Send in your dealership application for electric vehicles as per the information provided by the company. Following that, a corporate representative will get in touch with you and present their plan.
        • Read the agreement and all of its sections carefully to understand the terms, the needed investment, and the full disclosure documents. When both you and the company are in agreement, sign the dealership accord and make the required down payment. Use the company's support and training model to launch your dealership.
        • Documents required for dealership
          • Voter or Aadhaar card.
          • Address proof.
          • Pan card.
          • Documents to prove ownership or rent of space for business.
          • Passport size photo.
          • Mobile number.
          • Email ID.
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