expected after being announced three years ago. We can say that the market of the plug-in car is fragmented as there’s no leader is this industry, mostly same sized brand and Tesla which wants to develop the electric car but isn’t a leader so far as we can see in the charts showing the top selling cars of 2016 and 2017 in both BEV and PEV models.
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1 Chart: Top selling BEV model cars in Canada (2016-2017) Source: fleetcarma.comTarget Market Attractiveness The main target market for these electric car charging stations are electric car owners who are typically millennials who live in St. Catharines or Thorold. Most millennials who live around Brock University are young adults and they have a strong knowledge of the latest technology and typically early adoption mindset. The millennials we are targeting are also those who can afford electric cars, so we are looking at those in the middle to upper class income levels. It is deemed that since there are not many competitors around, installing electric charging stations shouldn’t be a big issue entering the market to compete with other charging companies. However, we found that not a lot of students would find any interest in these charging stations because a lot of students do not own an electric vehicle and don’t plan on purchasing one within a couple years based on survey results (65% of respondents had no plans on buying an electric vehicle). Therefore, it is not feasible to invest into these charging stations if it only attracts 35% of survey respondents (see Appendix 4 for survey results). It is strongly believed that to maximize exposure to this service, we must advertise the advantages of owning an electric vehicle. Section C: Organizational Feasibility Company structure