The entry of electric vehicles (EVs) in the market

Abstract

The entry of electric vehicles (EVs) in the market has been a game-changer for the traditional internal combustion engines.  While they have dominated for decades, the future of their survival is uncertain. New entrains are threatening to take a share of the market. Apple car is a promising new entrant. As a global leader in electronics, the company holds a strategic position if it opts to venture into the electric car market. A literature review of all aspects affecting the company presents a deeper understanding of what it ought to do to be a successful venture. Through an analysis of the primary player and globalization moves, best practices are identified that apple Inc can adopt to ensure that it is successful. The lessons from the industry indicate that the price of what they offer, the product, and the place of production is essential for a successful venture. Promotion is of less essence when the company is in a position to deliver value.

Executive Summary

Electric vehicles (EVs) promise to transform the traditional vehicle market. Current players in the vehicle industry have been somewhat reluctant about innovation, while those who create new products tend to be static. Currently, Tesla is the most common brand name in the electric vehicle market. The company has been able to establish itself as a reliable brand name in an industry dominated by internal combustion engine producers. Apple Inc Intends to venture into the EVs market by creating a vehicle brand that will change the current practices. To do this, the company ought to be a strategic failure to which it risks losing the entire invested amount. Through an analysis of Apple Inc and the potential market, a set of best practices is identified that may be essential in the market entry.

There are myriad of opportunities available in the market; Apple Inc can take advantage of and leverage its entrance. Now, that the EVs market is still underexplored, and new entrants have a myriad of opportunities that they can use to advance their venture. What should Apple be doing differently to ensure that it stands out? The text provides an array of alternatives that can be explored to see that the company can achieve its goals. More focus is given to the current industry players, examines what they have achieved, and draw conclusions on what ought to be followed to make better results.

The scope of the project is limited to electric vehicles, even though there are other versions including hybrid and ICEs Apple Inc desires to go fully electric. Therefore, the plan will cover what current EVs can do, what can be improved, and current market shortcomings. The limitations of the paper are on data collection. The available number of EV users is quite limited, and the users may not be possible to provide raw data on the same. Therefore, the paper will be limited to secondary data sources, and interpretation will also be on the same. The use of best practices will be applied for the research. Through the data collection process, transparency, data quality, and working within regulations will be adhered to. More attention will be on business and scholarly articles and ensuring that they are relevant for the study.

For the vehicle to be successful, three elements have to be met; they are the vehicle, the market entry price, and the place where production is to be done. Based on the concept of globalization and how impactful it has been for the existing players. Apple car must be produced for the mass market while still maintaining quality; this is to cater to the high development cost and the demand surge that may arise. Thus, it is ideal when the vehicle is produced in Asian nations as they have the capacity, and the cost is relatively low. By doing this, the entry price will be appealing for the mass consumers.