The principal objective of this research is development of a formula student electric vehicle and its performance analysis using model based simulation using Scilab. This project focuses on determining the technical parameters needed for electric vehicle designing using simulation tools currently available in market. Simulations are carried out using Optimum Lap and Scilab. Dynamic simulations of electric vehicles are conducted using this software for comparative study of different components which can affect the performance of the vehicle. Initially, lap simulation of vehicle is conducted based on various motors available in market using Optimum Lap to record speed, lap time, torque and energy consumption, this data is very crucial while selection of motor for the vehicle. Motors available in the market will be simulated and compared based on their energy consumption and voltage required. After selection of motor different battery cells will be compared based on their technical specifications to design a battery pack. Motor and battery will then be analysed using electric vehicle model created in Scilab to record the performance of the formula student electric vehicle. This project will guide students for selection of motor and battery for their car based on simulated data rather than actually buying and testing these components to save time and money. © Published under licence by IOP Publishing Ltd.