Electric Vehicle Charging Station Business Project Description-Riyadh

This business project plan outlines the establishment of an electric vehicle (EV) charging station in Riyadh, Saudi Arabia. The project aims to cater to the growing demand for EV charging services and equipment, focusing initially on charging services at three different levels. The target market includes entrepreneurs and personal EV owners in Riyadh, with potential expansion for equipment sales across Saudi Arabia. The plan emphasizes the importance of understanding the local business environment through PESTLE analysis, electricity pricing, and regulatory compliance. Financial forecasting and market value estimations are crucial for informed decision-making. The project prioritizes a phased approach, starting with a single service in Riyadh to ensure financial viability before diversifying and expanding geographically. The ultimate goal is to provide convenient and reliable charging solutions for EV users while contributing to the adoption of renewable energy in the region. Desklib provides access to this and other solved assignments for students.

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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

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within a short time (Schaper, 2014, p. 23). For this reason, the project will save its operational costs by
first focusing on one product market, Riyadh, Saudi Arabia. However, cars are mobile and multiple
stations will be needed. Therefore, the project will be established in several other cities but launching of
the business will be done in Riyadh.
Customers are the primary reason the business project has been designed to offer the services
within the Riyadh. Primarily, the business has identified three types of customers who will potentially be
attracted to the project. First, the entrepreneurs who have opted for cheaper and environmentally
friendly means of transport are potential customers for using electric vehicles. Second, owners of
electric vehicles for personal use are also customers to this business as they will need to charge their
vehicles every time they are short of power. Finally, those who intend to use this technology but will opt
to charge from their households would be a potential client for the equipment for charging the cars.
Since there is an increasing awareness on the use of renewable energy that is environmentally friendly,
the customer base is deemed to increase with time (Mwasilu, Justo, Kim, Do & Jung, 2014, p. 507).
For the EV Charging Station to be successful, a perfect understanding of the business conditions
in the technology industry in Saudi Arabia is required. Among the information needed is a pestle analysis
of the service and technology industries in which the business fall under. This will be essential in
understanding the various impacts that may affect the operations of the business in the future
(Wesman, 2016). Furthermore, estimation of price levels for electricity will be needed for the business
to charge its customers accordingly without exploiting them or running at a loss. Additionally, the
information required will be the regulations to be followed including licensing, registration of the
business and any taxation requirements according to the existing laws. These pieces of information are
meant to ensure that the business will conform to the set procedure to avoid any fall out with the
government of Saudi Arabia or the municipality of Riyadh. Finally, information on cost estimation,
financial forecast, and potential market value for the business will be needed for informed decisions to
be made before initiating the business.

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References
Euromonitor International (2017). Riyadh City Review. [online] Available at:
https://www.euromonitor.com/riyadh-city-review/report [Accessed 11 Sep. 2018].
Mwasilu, F., Justo, J., Kim, E., Do, T., & Jung, J. (2014). Electric vehicles and smart grid interaction: A
review on vehicle to grid and renewable energy sources integration. Renewable and Sustainable Energy
Reviews, 34, 501-516. doi: 10.1016/j.rser.2014.03.031
Schaper, M. (2014). Entrepreneurship and small business. Milton, Qld.: John Wiley and Sons Australia.
Wesman, J. (June 15, 2016). The 6 Start-up Essentials for a Business That Will Succeed. Retrieved from
https://www.entrepreneur.com/article/274377