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Harsh Bharwani  |55 Answers  |Ask -

Entrepreneurship Expert - Answered on Aug 24, 2023

Harsh Bharwani is a fourth generation entrepreneur.
As CEO and managing director, he leads the international business and employability initiatives at the computer networking institute, Jetking Infotrain Limited.
After graduating from Delhi University, Bharwani joined the family business in 2010 and set up operations in the US and Vietnam.
He has trained over three lakh students in employability, confidence and key life skills.... more
Asked by Anonymous - Jul 03, 2023Translate

Hello Mr. Harsh, I want to start a company dealing with electric motor and battery for two wheeler vehicles. I can start the company ASAP however want to know the key requirements for certification and generating sales of the product. Can you please help me on this ?

Ans: Encyclopedically, the automotive assiduity is passing through a paradigm shift. The once century has been the period of the internal combustion machine( ICE) primarily on account of the ease of use, vacuity, and low cost of fossil energies. The shift to electric mobility has come necessary on account of the fast reduction of fossil energies, rapid-fire increase in energy costs, impact of transportation on the terrain, and enterprises over climatic change.
EVs are gaining fashionability in the business. Hence, OEMs are obliged to insure the safety of the public. With the increase in the use of Electric scooters and electric buses , it'll need ease of use for consumers. Robust testing and instruments can help to meet both the below-mentioned objects. Some of the other reasons for standardization are Social demand, minimal safety conditions, Performance demand, Quality during the product life cycle, Technological advancement, Access to global requests Standardization is governed by colorful government agencies.
CMVR is a specialized standard commission, AISC is the Automotive Indian Standard Committee, Standing Committee on Emission Legislation- SCOE, and Bureau of Indian norms-BIS. Testing of colorful factors in an electric vehicle must be done for its part in the operation, trustability, continuity, safety, effectiveness, etc. CMVR has blessing testing in the Verification, safety, and performance orders. Type of blessing Testing Under CMVR https//e-vehicleinfo.com/electric-vehicles-in-india-arai-standards-and-regulation/Category and Type of blessing needed For EVs in India? No CMVR instrument is needed for vehicles falling specification with 250W( 30 twinkles power of motor) of a maximum speed of 25 kmph. still, similar vehicles need to misbehave with the following effects White mirrors on the frontal side Red mirrors on the hinder side thickets A vehicle without a battery must weigh below 60 kg.
Government Regulation Framework for Electric Vehicles Some of the global regulations are rolled out by SAE, AIS by CMVR, and UN ECE Regulations R100 R101 R85 for electric vehicles. AIS norms are for electric vehicles in India, Some of the regulations are AIS038, 039, 040, 041, 048, and 049. AIS038 demand for construction and functional safety AIS039 dimension of electrical energy consumption( Wh/ km). AIS040 system of measuring the range. AIS041 dimension of net power and maximum 30 min power. AIS049 CMVR type blessing for EV. AIS048 Safety conditions for traction batteries. Hybrid Electric Vehicle order vehicles have to misbehave with AIS102 Part 1 and Part 2. Antique- fitment is another business model in the electric vehicle sphere. The old vehicles with internal combustion machines which are being attached with the electric tackle have to follow AIS123 Part 1, Part 2, and Part 3. AIS138 Part1, Part2/ IS 17017 standard applies for charging structure. AIS131 type- blessing procedure for electric and cold-blooded electric vehicles introduced in the request for airman/ demonstration systems intended for a government scheme. For L Category Vehicles, AIS156( in line with UN R136) covers the following points Vibration test Thermal shock and cycling test Mechanical drop test for removable REESS Mechanical shock Fire resistance External shock circuit protection Overcharge protection Over-discharge protection Over-temperature protection.

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Financial Planner - Answered on Mar 03, 2024

Asked by Anonymous - Mar 03, 2024Translate
I'm contemplating a career change in my late 30s, earning Rs 14 lakhs annually. How can I navigate this transition while ensuring financial stability and working towards long-term goals such as retirement?
Ans: Transitioning to a new career in your late 30s while maintaining financial stability and planning for long-term goals like retirement requires careful consideration and planning. Here are some steps you can take to navigate this transition effectively:

1. Assess Your Skills and Interests: Reflect on your skills, interests, and values to identify potential new career paths that align with your strengths and passions. Consider seeking career counseling or taking career assessment tests to explore different options.

2. Research Potential Careers: Conduct thorough research on the industries and roles you're interested in pursuing. Look into job market demand, salary potential, and growth opportunities to ensure your chosen career path is financially viable.

3. Skill Development and Education: Determine if you need to acquire new skills or education to transition into your desired field. This could involve enrolling in courses, obtaining certifications, or pursuing higher education such as a degree or specialised training programme.

4. Financial Planning: Evaluate your current financial situation and create a budget to understand your income, expenses, and savings. Factor in any potential changes in income or expenses associated with your career transition. Consider setting aside an emergency fund to cover unexpected expenses.

5. Debt Management: If you have any outstanding debts, develop a plan to manage and pay them off efficiently. Prioritise high-interest debts like credit card debt while maintaining minimum payments on other loans.

6. Retirement Planning: Review your retirement savings accounts like the EPF, and assess whether you're on track to meet your long-term retirement goals. Consider consulting a financial advisor to develop a personalised retirement plan based on your age, income, risk tolerance, and retirement objectives.

7. Health Insurance and Benefits: Evaluate the health insurance and other benefits offered by your new employer, if applicable. Ensure you understand the coverage provided and any associated costs. If transitioning to self-employment or freelancing, research options for obtaining health insurance coverage independently.

8. Networking and Building Connections: Network with professionals in your desired industry to gain insights, advice, and potential job opportunities. Attend industry events, join professional associations, and leverage online networking platforms like LinkedIn to expand your network.

9. Side Hustle or Freelancing: Consider starting a side hustle or freelancing in your desired field while maintaining your current job. This can provide additional income, valuable experience, and a smoother transition into your new career.

10. Evaluate Risks and Rewards: Assess the risks and rewards associated with your career change, including potential income fluctuations, job stability, and work-life balance. Be prepared to adapt and make adjustments as needed throughout the transition process.

By following these steps and carefully planning your career transition, you can navigate the change while maintaining financial stability and working towards your long-term goals, including retirement.
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