Conversion Electric Motorcycle Business Strategy Using Swot Analysis and Business Model Canvas

Abstract

Convertible electric motorbikes are the outcome of transforming motorbikes that run on fossil fuels into electric ones. The purpose of this conversion is to promote the growing adoption of electric vehicles, prolong the lifespan of motor vehicle products, and mitigate carbon emissions in the transportation sector. Hence, the objective of this study is to ascertain and evaluate the market position of the convertible electric motorbike industry through the utilisation of Strength, Weakness, Opportunities, Threats (SWOT) and Business Model Canvas (BMC) analysis. The collection of primary data involved conducting interviews and utilising brainstorming approaches with professionals from electric vehicle manufacturers and academia. Nine business strategy models for convertible electric motorbikes were derived from the investigation using the BMC technique. According to the examination of the Internal Factor examination Summary (IFAS) and External Factor Analysis Summary (EFAS) matrices, a growth strategy has been selected. This approach indicates that the business possesses strengths and opportunities. Therefore, it requires policies that promote rapid expansion through comprehensive, integrated, and diversified methods. Recommendations for further research include exploring company strategies that use a circular and sustainable approach.