ipro 356: plug-in hybrid electric vehicle - Community List - Illinois ...

More documents

Recommendations

Info

Isopomoto IIT EnPRO-356, Fall 2006 2.0 Business Plan 2.1 Company Mission and Background Mission Isopomoto was founded in August 2006 through the inter-professional project program at the Illinois Institute of Technology. The company name is a testament to the diverse background of our members and is derived from the Yoruba words for hybrid (‗isopo‘) and car (‗moto‘). Isopomoto‘s vision is to complete the final stage in the commercialization of Plug-In Hybrid Vehicle retrofit technology. We aim to market our PHEV kit to private and public fleet owners, conventional hybrid owners, distributors, as well as car manufacturers with a particular emphasis on Chicago clients. Background It is projected that automobile ownership and use will significantly increase over the next few decades. Along with this comes the obligatory increased consumption of fuel. However, it is believed that oil production will reach its peak by 2025 and the increase will not be able to meet the demands of world use. Prices will skyrocket and tensions will heighten in the Middle East. It is thus imperative to find a way to reduce petroleum-based fuel use without compromising the automotive industry markets. One solution is to create more electric vehicles (MEVs). With sales of hybrids jumping 81% in 2005, the electric-combustion hybrid technology has already proven itself both in terms of usability and marketability. There are several crucial advantages to PHEVs. Although the retail price of a PHEV is slightly higher than first-generation (conventional) hybrid vehicles, the operational cost is substantially lower. Fuel costs for conventional vehicles currently stand at 6 cents per mile; while for plug-ins the cost is only 3 cents (this includes the cost of electricity to charge the battery). 1 Moreover, the government will provide tax credits for alternatively fueled vehicles. 2 Because of reduced emissions, PHEV is environmentally friendly and is known as a ‗gas-optional hybrid‘ because it does not 1 IAGS, Institute for the analysis of global security 2 Energy Policy Act of 2005 (EPACT) 6
Isopomoto IIT EnPRO-356, Fall 2006 need to use gasoline for typical commuter distances. This reduces emissions to zero! Government studies have found that PHEVs reduce greenhouse gases by 46 to 61 percent. 3 A study by the Electric Power Research Institute found that consumers prefer plug-ins because they offer the best of both worlds: the reliability of a traditional hybrid and the efficiency and performance of an electric car. With the benefits of reduced emissions, improved city driving performance, and higher fuel efficiency, these vehicles are more attractive than ever before despite their higher retail price. Isopomoto‘s focus is on PHEVs but it has been involved in hybrid research for over 5 years. The PHEV is a hybrid car with an additional battery which has the ability to be recharged anywhere an electrical outlet exists. PHEVs run on this added battery in what is known as an all-electric mode until the battery is completely discharged whereupon it reverts back to conventional combustion. During this time, which can range anywhere from 20-100 miles depending on battery size, zero fuel is consumed. The firm‘s preliminary research has determined that the PHEV concept can be a very successful and profitable alternative to conventionally powered automobiles and may well have the potential to capture the market from traditional hybrid manufacturers. The initial designs for Isopomoto‘s system has been completed and thoroughly tested for consistent results. The parallel research being conducted on batteries, engines, braking systems and so on allows Isopomoto to produce PHEVs entirely in-house. 2.2 Problem and Opportunity The Problem The importance of PHEVs has been entrenched by three primary socio-economic factors: oil prices, finite resources, and environmental pollution. A. Oil Prices The cost of oil has been rising steadily since the start of the century. The cost of a barrel of crude oil supplied by OPEC rose from around $22 a barrel in January 2001 to $57 a barrel in January 2006. This is an increase of almost 160% in 5 years! What is 3 Electric Power Research Institute 7
Page 1 and 2: IPRO 356: PLUG-IN HYBRID ELECTRIC V
Page 3 and 4: Isopomoto IIT EnPRO-356, Fall 2006
Page 5: Isopomoto IIT EnPRO-356, Fall 2006
Page 57 and 58:
Isopomoto IIT EnPRO-356, Fall 2006
show all

ipro 356: plug-in hybrid electric vehicle - Community List - Illinois ...

Create successful ePaper yourself

Delete template?

Save as template?