Electric Vehicle Charging Station: Business Project Description

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Electric Vehicle Charging Station: Business Project Description
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Electric Vehicle Charging Station
Business Project Description
The electrical vehicle charging station business is focused on providing the best services to
people owning or intending to own electric vehicles in Riyadh, Saudi Arabia. Although the penetration of
such vehicles has is not yet established in the country, the business aims at preparing a reedy charging
station that would not only provide charging services but also encourage the potential users to purchase
the vehicles. The project is designed to serve two major purposes. First, the EV charging station will offer
charging grounds for electric vehicles owners in three different levels depending on the length of time
they would want their vehicles charged. Second, the business will also offer equipment for electric
vehicles like the charger plug-in. This will, however, depend on vehicles’ manufacturer specific standards
and the preferences of the customers. Generally, the business project is purposed to offer alternative
charging services for persons intending or owning electric vehicles in Riyadh, Saudi Arabia for the start.
For the start of the business, it will only offer one service and product. Since the area of
operation is limited because of the technology penetration, the business intends to start by offering
charging services. As it is with most businesses, starting with a few products or services has proven to be
more feasible than using multiple products and the business fails to break-even (Schaper, 2014, p. 24).
For this reason, the business project only intends to start by offering charging services to electric vehicle
owners at three different levels of charging. Secondly, the business is also poised to supply electric
vehicle equipment for those who might which to charge their vehicles from their convenient locations
other than the EV charging stations. Such products may include plug-in hybrid chargers that are used as
connectors to the vehicles.
Based on the penetration level of the technology in Saudi Arabia, the business project will focus
on major cities. However, the first city, to begin with, will be Riyadh which hosts the economically
potential consumers since it contributes to about 23% of Saudi Arabia GDP (Euromonitor International,
2017). They can purchase the electric vehicles for personal or business use. Ideally, the product market
would be based in this city for the first launch of the EV charging station. Although there could be
demand for other persons outside Riyadh, the supply of equipment will not be limited to the city alone
but also those in need of them from other places in Saudi Arabia. Although business expansion is
expected to diversify the product market, the start-up will be limited to the market consumer segment
Riyadh until the technology penetrates effectively to other parts of the country. This decision is based on
the fact that feasible and viable businesses should have an adequate sales return to cover the initial cost