Business Ideas in Electronics (Electric Vehicle Sector)

Business Ideas in Electronics

Looking for Business Ideas in Electronics like Electric Vehicle Sector? Then you have jumped into the right article.

According to the report published by Bloomberg; Electric vehicles will be the majority of vehicles sold worldwide in 2040, while 33 percent of the light commercial vehicle category will be seized. With the triggering of demand for electric cars, mostly in China, automakers around the world have increased their investments and operations for electric vehicles. China has become the world’s biggest supporter in the electric vehicle market. Beijing states that by 2025, one out of every five vehicles sold will be alternative energy vehicles.

This rise in electric vehicles with sharp two-sides, on the one hand, reduces the demand for oil and causes this market to shrink, on the other hand, it creates different opportunities by providing new services. So how can we benefit from this developing market? In this article we wrote, we explained for you the business opportunities that can make you profit in the developing electric vehicle market.

12 Business Ideas in Electronics

1- Installing Charging Stations in the Public Space for Electric Vehicles

One of the factors that will be effective in the rise of electric vehicles will be the accessibility of the orientation stations. More charging stations, more mobile connections, and therefore more electric vehicles. According to the report released by IHS, the number of electric vehicle charging stations will increase greatly in 2020. According to the prediction of IHS automotive, the number of charging stations to be installed for electric vehicles will exceed 12.7 million in 2020.

The increase in the number of these electric vehicle charging stations revealed by the data can be evaluated as a good business opportunity and can be evaluated as the future demand will increase. Moreover, the amount of investment required for this job is very low. Depending on its features and brand, the cost of a single output common charging station varies between $ 1950 and $ 3000.

On the other hand, most common charging stations provide free service today. For this reason, it is highly likely that the charging stations to be installed are not preferred and free stations elsewhere are used. In this case, how can you get a return on our investment? Our advice at this point will be to set up your working model as a platform.

What is Platform Business Model?

Description: A business model that gains value by providing interchange services between two or more independent groups, usually between the manufacturer and the customer.

Thanks to the electric vehicle charging stations that you will put into service by establishing the Platform Business Model, you will prevent customers from having to spend money to charge their vehicles. This method is especially ideal for use in fuel stations. Because with the increasing interest in electric vehicles, this will be the most reasonable step to take against the risk of falling demand for petroleum-based fuels.

But how can you persuade electric vehicle manufacturers or companies that produce charging station equipment to strategically cooperate with you or at least create a membership model based on the number of vehicles using it? Costs will cover electricity charges, maintenance fees and your profits.

Users will use charging stations by reading QR codes via their smart phones. The QR code will not only allow the user to charge their vehicle, but also to collect data from the charging station. The companies will use this collected data in their planning and sales activities in the future.

As a result, vehicle manufacturers can sell their electric vehicles much easier. Because the electricity required for their vehicles will be offered to their customers free of charge.

2- To work as a charging station and offer rest places by working in partnership with charging stations

Charging a powered vehicle takes time. Tesla Motors has recently announced plans to build the company’s super-fast charging stations. These charging stations of the company are seen as the most advanced charging technology today. But despite this speed and technology, it takes between 30 and 40 minutes to fully charge an electric car.

On the other hand, these charging stations owned by Tesla Motors take the business one step further and offer its users not only the environment to charge their vehicles. Tesla Motors head of technology, JB Straubel, states that there will be about 40 units at the charging stations, where there will be areas where drivers can sit and relax while sipping their coffee. Where users will be provided with such charging and relaxation environments is another good business idea for the growing electric vehicle market.

To start this business, you must either partner with the company that offers an electric vehicle charging service, or offer this service yourself. After that, you should set up a break in this station where users can rest and relax while charging their vehicles. These stopovers can accommodate elements such as cafes, restaurants, dry cleaning, cinema and even shopping malls. This business idea may be the way to enter the electric vehicle market by establishing strategic collaborations for those who already have the infrastructure.

3- Waste Battery Collection Service

Business Ideas in Electronics

The rise of electric vehicles will eventually reveal a new problem. Today’s electric vehicle batteries have the same technology as lithium-ion batteries used in smartphones. These batteries are used in a controlled manner, and when they expire, they are recycled with appropriate methods. When the batteries in electric vehicles also need to be filled and replaced, they should be properly disposed of. As the interest in electric vehicles increases, the collection of waste batteries will become a good business opportunity.

The total value of global battery recycling markets is expected to increase by 6.5 percent between 2017 and 2022 to reach $ 11.83 billion. The growth of this market will increase further with the impact of electric cars and electric vehicles used in the industry. The resulting data suggest that demand for battery waste collection services will increase in the future. The best part of this business opportunity is that waste batteries will grow not only on electric vehicles, but on all kinds of electronic devices.

Apart from those mentioned above, there are many more business opportunities likely to arise with the rise of electric cars. We have briefly mentioned the other possible business opportunities for you below.

4- Service for Electric Vehicles

The operating principles of electric cars are completely different from internal combustion engines. Repair of parts such as electric motors and converters will be among the basic services of the service you can install.

5- Electric Vehicle Modified Stations

A shop where vehicle modification and painting will be carried out is another business area related to electric vehicles. Moreover, although this service will mainly serve electric vehicles, its doors may be open for all types of vehicles.

6- Electric Charging Station Management

Management will be a profitable business in charging stations to be installed for electric vehicles. As the number of charging stations increases, management will be needed to set up and provide services. If charging stations with different features are installed, repairs and maintenance work within the station seem to be the best option.

7- Repairman for Electrical Problems of Electric Vehicles

A mechanic to open up for possible electrical problems of electric vehicles can be seen as a pretty good business idea. The main works of these repairers will be sections such as electric motor repair and circuit repair.

8- Home Charging Stations Installation

While first level chargers are easy for electric vehicles, second level chargers are not always easily accessible. But level 2 charging units are still required for vehicles with fast charging. For this reason, a business idea that offers charging unit installation services to homes will be profitable.

9- Charging Station Setup Training

Charging station installation training for electric vehicles can help teach how to do this service. This training service can be carried out jointly with the repair service to be provided for charging stations.

10- Electric Vehicle Rental Service

Just like vehicles with an internal combustion engine, a rental company exclusively for electric vehicles is a business opportunity that can be utilized.

11- Production and Sales of Spare Parts

Producing or selling spare parts for electric vehicles is a business opportunity that can start with the growth of this market. Selling spare parts imported from the manufacturer is equally promising.

12- Battery Sales for Electric Vehicles

For electric vehicles, the batteries need to be replaced every 5 to 10 years. The increase in the number of electric vehicles will be an opportunity to open shops where the batteries produced for these vehicles are sold.

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