ELECTRIC AUTO ON RENT

Abstract

Rickshaws are the most common three-wheeled vehicle in Pakistan. This information makes this auto easily accessible, especially for travel purposes, especially short distances. Often, on the roads, there may be a rickshaw offuel burning, which requires fuel to run. Other auto requires fuel consumption, which is bad for the environment because it pollutes the air and puts a strain on the country's fuel economy. In this project, we have introduced a new rickshaw model designed to address the shortcomings ofthe current traditional rickshaw. This project provides a briefoverview ofthe potential of the solar power system. This type of transportation is popular in many lands, these are environmentally friendly vehicles that carry passengers throughout the city without fuel. That is why these cars have become so popular. This e-rickshaw is popular in many lands and has been used by many. Hundreds ofthousands ofthree electric wheels - better known as e-rickshaws. We aim to build a factory that will provide daily E-Rickshaws to low-income people in Pakistan, allowing them to earn a living. We will also create an app that will allow people to book a ride at a reasonable price. Initially, the company's operations would be limited to Karachi only; but, over the next 5 to 10 years, the company plans to expand its operations to other major cities in Pakistan, including Lahore and Islamabad. The total investment for this project is estimated to be PKR 7,000,000 which includes working capital of PKR 1,042,700. The management team would consist of 2 members and 5 employees would be hired; the annual salaries ofthe management would be PKR 3,360,000 for the first year. The average return on investment is projected to be 214.7% (Projected return on investment for each year is mentioned in the APPENDIX), whereas the internal rate ofreturn ofthis business is projected to be 31 %. One ofthe foremost current risk is that the competitor’s like UBER and BYKEA would read this business these firms have additional resources than this start-up it should risk the survival ofthe corporate. Moreover, one in every ofthe potential risk is probably going to be that the Pakistani currency would depreciate within which case it might become big-ticket to import these e rickshaws but this will be relieved by raising additional funding or by buying e-rickshaws from the native market.