Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 54 , 01 December 2023
Open
Access | Article
Analysis on Electric Vehicle Industry’s Business Strategies -- Taking Tesla as an Example
* Author to whom correspondence should be addressed.
Abstract
Tesla, a trailblazing firm noted for its innovative business practices, is at the vanguard of the automotive industry’s transition brought on by the rise of electric automobiles. The paper analyzes Tesla’s business strategy in depth and looks at how it has affected the electric vehicle market. The study uses a literature review approach to look into Tesla’s novel business strategies, market positioning, and eco-friendly projects. This research analyzes academic literature, business reports, and case studies to determine what has contributed to Tesla’s success and offer practical suggestions for future study. The results highlight the revolutionary effect Tesla’s strategy has had on the automotive industry and the global advancement of electric vehicles. The paper elucidates the underlying strategic mechanisms that fuel Tesla’s expansion and market supremacy. Policymakers interested in encouraging sustainable mobility solutions and businesses planning to participate or compete in the electric car market can both learn valuable lessons from the results.
Keywords
Tesla, business strategies, electric vehicles, market positioning
References
1. Alqahtani, A., Sohail, M. S., & Ghafoor, A. (2021). The Influence of Electric Vehicle Adoption on Sustainable Transportation: A Systematic Literature Review. Sustainability, 13(5), 2454.
2. Daim, T. U., & Balasubramanian, P. (2020). Innovation strategy in electric vehicle companies. World Patent Information, 61, 101972.
3. Hu, B., Xu, X., & Chen, Y. (2020). Innovation strategy, technology strategy, and performance: The case of new energy vehicle industry in China. Journal of Cleaner Production, 245, 118877.
4. Piscopo, G., & Crisóstomo, V. L. (2021). Tesla, Inc.: Business strategies and sustainability initiatives. Journal of Cleaner Production, 284, 124835.
5. Zeng, C., Huang, M., & Li, X. (2020). Positioning strategy of electric vehicle manufacturers in China: A patent analysis. Sustainability, 12(23), 9987.
6. Brown, A., & Day, M. (2020). EV R&D Power Players: Tesla, Toyota, and Volkswagen Lead the Way. BloombergNEF.
7. Smith, J., & Johnson, M. (2019). The rise of electric vehicles: Environmental friendliness or prestige and performance? International Journal of Sustainable Transportation, 13(2), 139-156.
8. Holweg, M., & Miemczyk, J. (2015). The direct sales dilemma: An exploratory investigation of Tesla’s distribution model. Journal of Operations Management, 33-34, 83-99.
9. Ljungberg, D., & Berggren, C. (2019). Selling electric vehicles: A comparison between Tesla Motors and the mainstream automotive industry. Industrial Marketing Management, 80, 136-147.
10. International Energy Agency (IEA). (2021). Global EV Outlook 2021. https://www.iea.org/reports/global-ev-outlook-2021
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).
- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-155-1
- ISBN (Online)
- 978-1-83558-156-8
- Published Date
- 01 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/54/20230911
- Copyright
- 01 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited