Problem: An electric car is an automobile that is powered by one or more electric motors, using electrical energy stored in rechargeable batteries or other energy storage devices. A new entrepreneur firm is trying to develop a mobile application identical to Uber for providing transportation service to the citizens. However, their concept is using only electric cars. Their motto is transforming the taxi industry into a sustainable format.
Questions to be answered:
a. Discuss the economic, societal, and environmental impacts of such a transformation towards electric car based public transportation.
b. How feasible is this project? What risks do you think exist for this entrepreneur firm? What risk management tools can be used to manage these risks?
c. Develop a risk matrix to analyze the risks you listed on Part B. What other tools/methods would you use to analyze these risks other than the risk matrix?