Electric Vehicle Business Research Articles

Satyadarshan Technologies & Services: revolutionizing urban mobility?

Learning outcomes After reading and analyzing this case study, students will be able to describe the challenges of creating an electric vehicle (EV) start-up with the objective of zero-carbon emissions, identify opportunities and challenges for Satyadarshan Technologies & Services (STS) in enhancing the B2B customer base and sales volumes in the EV market, identify and assess government incentives to reinforce STS’s existing EV business and compose an understanding of and determine an ability to use various industrial marketing and promotion strategies for STS in the present environment. Case overview/synopsis STS was launched in 2020 to provide environmentally conscious urban commuting. Himanshu Purohit, the founder of STS, commenced an e-bicycle assembly unit and produced the first advanced electric drivetrain technology. The vision was to transform how people viewed mobility and make EVs the standard for a healthier globe. Nurturing a start-up with zero-carbon emissions was tedious due to limited infrastructure, high costs, low market acceptance and supply chain constraints. With the relentless pursuit of excellence, STS constantly pushed the boundaries and crossed the break-even ceiling in the year 2022. As a budding player in the souk, the company expected to gain a strong presence in the EV market with particular attention to the B2B customer segment. At the same time, the company aimed to ensure business sustainability by leveraging government incentives. The company needed to expand its corporate sales volume and craft a sustainable competitive advantage. Purohit recognized various challenges to the sustainability of STS that stood between the company's goals and their realization, particularly in achieving a sustainable move in the EV segment. Consequently, Purohit found himself at a critical juncture to pave the path toward the growth of the start-up. Eventually, analysis of the company's business challenges, industrial marketing and promotional strategies required strategic planning to appraise and evaluate the business model. Complexity academic level This case study is designed for new-age Master of Business Administration and executive management programs. It should be used in entrepreneurship and strategic management courses to discuss small innovative e-bike start-ups. This includes conducting a competitive analysis and self-assessing a firm's market-oriented strategies. Prima facie, undergraduate and postgraduate students are beneficiaries of this case. This case study may also be conducive to teaching how to initiate a sustainable and green vehicle business. This case study guides students entering the EV business, addressing industry-specific challenges and conducting market analysis. Supplementary materials Teaching notes are available for educators only. Subject code CSS 3: Entrepreneurship.

From cells to cars: Developing an electrochemical techniques and diagnostics course for new battery engineers

We are a team of three battery researchers and engineers who are working with The Electrochemical Society to develop an "electrochemical techniques and diagnostics for batteries" curriculum, comprised of an online course and an in-person workshop. With a combined 40+ years of experience working in battery research and engineering, ranging from academia to electric vehicle manufacturing, we have noticed that there exists a gap in applied electrochemistry knowledge needed to train the rapidly expanding workforce of battery engineers and scientists. In this backstory, we explain the origin story of our team, our motivations for developing the course and the things we have learned in working together. We share our insights into the emerging electric vehicles business and why we believe electrochemistry education will shape the future of this industry.

Second-Life Electric Vehicle Batteries for Home Photovoltaic Systems: Transforming Energy Storage and Sustainability

Solar-based home PV systems are the most amazing eco-friendly energy innovations in the world, which are not only climate-friendly but also cost-effective solutions. The tropical environment of Malaysia makes it difficult to adopt photovoltaic (PV) systems because of the protracted rainy monsoon season, which makes PV systems useless without backup batteries. Large quantities of lithium-ion battery (LIB) trash are being produced by the electric vehicle (EV) sector. A total of 75% of the highest capacity levels have been discarded. By 2035, it is predicted that the wasted LIBs held as a result of expensive recycling and difficult material separation would carry up to 1200 GWh. An economical and sustainable option is offered by our study, which prototypes a replicated LIB pack that is incorporated into a PV home system. This study investigates the transformational power of second-life electric vehicle batteries (SLEVBs) when incorporated into home photovoltaic (PV) systems. The concept entails reusing existing electric vehicle batteries for stationary applications, offering a unique approach to extending the life of these batteries while meeting the growing need for sustainable domestic energy storage. The study looks at the technological feasibility, economic viability, and environmental effect of introducing SLEVBs into household PV systems, giving vital insight into their role in revolutionizing energy storage techniques and promoting sustainability. In comparison to the Lead–Acid Battery (LAB) system, the SLEVB system has a cheaper total cost of ownership, with savings of 12.62% compared with new LABs. A CO2 emission reduction of at least 20% is achieved by using the SLEVB system compared with LABs. Electricity can be provided in houses in rural areas where there is no electricity. As a result, the security and superiority of the life of rural residents will improve. It is anticipated that the suggested strategy will lower EV pricing, enabling EV adoption for M40 and B40 groups. Consequently, the Malaysian and worldwide EV business will remain viable.

Tata Motors Limited: strategic journey towards electric vehicle

Learning outcomes The case study has been prepared for management students/business executives to understand electric vehicle (EV) business, business environment, industry competition and strategic planning and strategy implementation. Case overview/synopsis The size of the Indian passenger vehicle market was valued at US$32.70bn in 2021; it was projected to touch US$54.84bn by 2027 with a Compound Annual Growth Rate (CAGR) of more than 9% during the period 2022–2027. The passenger vehicle industry, a part of the overall automotive industry, was expected to grow at a rapid pace, as the Indian economy was rising at the fastest rate. However, the Government of India (GoI) had put a condition on the growth scenario by mandating that 100% of vehicles produced would be EVs by 2030. Tata Motors (TaMo), a domestic player in the market, had been facing a challenging competitive environment. Although it had been incurring losses, it had successfully ventured into the EV business. TaMo had taken advantage of the first mover by creating an electric mobility business vertical to enable the company to deliver on its aspiration of providing innovative and competitive e-mobility solutions. TaMo leadership had been putting efforts to scale up the electric mobility business, thus, contributing to GoI’s plan for electric mobility. Shailesh Chandra, president of electric mobility business, had a big task in hand. He had to scale up EV production and sales despite insufficient infrastructure for charging and shortages of electronic components for manufacturing. Complexity academic level The case study has been prepared for management students/business executives for strategic management class. It is recommended that the case study is distributed in advance so that the students can prepare well in advance for classroom discussions. Groups will be created to delve into details for a specific question. While one group will make their presentation, the other groups will question the solution provided and give suggestions. Supplementary materials Teaching notes are available for educators only. Subject code CSS 11: Strategy.

From Thinking Green to Riding Green: A Study on Influencing Factors in Electric Vehicle Adoption

Recent changes in national and international environmental policy place a lot of emphasis on electric vehicles (EVs) as they reduce ecological damage by eliminating emissions. However, given the products’ novelty, consumers have expressed mixed emotions about EV purchases. Skepticism surrounding EV reliability is a significant concern for potential adopters, primarily due to a lack of essential support. As a result, to resolve the problem of consumers’ mixed emotions toward EVs, it is necessary to understand how consumer environmental concerns (EC), attitudes, subjective norms and perceived behavioral control shape consumers’ intentions. Leveraging the modified and expanded version of the Theory of Planned Behavior (TPB), the current study developed and validated a conceptual model and hypotheses through cross-sectional research. Employing the snowball sampling method, we collected data from 274 respondents via an online survey. The study establishes that social pressure can impact individual ATT, fostering enduring benefits for respondentsʹ EC and behavioral intentions. Consequently, active involvement by EV manufacturers in advocating sustainable consumption is paramount to catalyzing future market growth. Our research is a ground-breaking attempt to determine EV interest among consumers. The nuanced findings hold implications for marketers/practitioners involved on the supply side of the EV business.

Emerging Innovations and Progress in Electric Vehicle Technology

Electric vehicles (EVs) have become a key component of international efforts to stop environmental deterioration and deal with climate change. They offer a dual answer to the problems of rising fuel use and greenhouse gas emissions. Recent years have seen a phenomenal increase in the EV business, which represents a major paradigm shift. The main vehicle types and their technical characteristics, which cover fuel efficiency, environmental impact, and market dynamics, are thoroughly explored in this article. In particular, the study presents an in-depth insight into each of the three main EV categories: Hybrid Electric Vehicles (HEVs), Plug-in Electric Vehicles (PHEVs), and Battery Electric Vehicles (BEVs). This study also undertakes a thorough analysis and comparison among these vehicle kinds, providing a comprehensive study of current developments and EV technology's difficulties. The conclusion of this analysis makes clear that EVs batteries recharged from RESs have no emissions ensuring sustainable and clean environments.

Cracking the conundrum of e-cargo logistics: curious case of LoadExx

Learning outcomes The learning outcomes of this case study are to understand the business model canvas and value propositions and apply advanced business innovation tools in electric vehicle business models; evaluate the current cargo vehicle scenarios at national and global levels and draw out the possibilities and costs for a new player; extrapolate the future scenario of the cargo economy, its electrification and positioning in a business-to-business (B2B) and business-to-customer (B2C) segment, especially for a developing economy; and improve the student’s ability to get organisational buy-in and execute new business models. Case overview/synopsis LoadExx is a fully electrified electric cargo service focusing on logistics in Kolkata, a metropolitan city in the eastern part of the country. The service of LoadExx commenced in January 2021 in the B2B segment after overcoming its then issues of driver hesitancy and customer anxiety and financial issues to adopt electrified cargo systems. The conundrum faced by LoadExx in its commencement thus had been solved under the able guidance of its owner Amit Arora. The case study was positioned four months after the commencement of LoadExx. To gain market power and traction, Arora and his team came up with the idea of market expansion. However, the current conundrum was whether LoadExx would enter the B2C segment in its current location or expand with the same business model to other parts of the country. The expansion was to be implemented in the immediate future to retain its rarity and reduce the imitability of the business model of LoadExx. This case study details the logistics and market operations of the cargo sector, especially electric cargo, in a developing economy, especially India. A teaching note supplementing the “Cracking the conundrum of e-cargo logistics: curious case of LoadExx” case study has been provided. Complexity academic level This case study is designed for undergraduate and postgraduate students and senior management professionals in executive education programmes undertaking courses in logistics management and supply chain operations and related cargo logistics courses. This case study denotes integrating key processes from end-users and gaining the trust of drivers, thereby showing the perspective of the plight and conundrums of a cargo aggregator working in the B2C segment. This case study could be used to discuss concepts related to not-for-profit firms, aggregators, policymakers and think tanks. Supplementary materials Teaching notes are available for educators only. Subject code CSS 9: Operations and logistics.

Digital twin for electric vehicle battery management with incremental learning

The current Industry 4.0 revolution promotes the use of cyber–physical systems to enhance manufacturing and other industrial processes via automation, real-time analysis, etc. Data communication between individual systems plays an important role in this revolution’s success. As defined by researchers, Digital Twin is the digital representation of a physical system that enables predictive maintenance. Due to the increase in environmental pollution, battery-powered electric vehicles (EVs) are regarded as the urgent solution to internal combustion engines in the transportation business, despite obstacles such as safety concerns and range estimation. State of Health (SoH) and State of Charge (SoC) are two battery metrics that, when precisely anticipated, permit safer and longer battery use. Predicting these parameters online is computationally and financially expensive. Alternately, some of these factors could be predicted in the cloud rather than on the vehicle, hence cutting costs. Consequently, the EV business is one example where cloud-to-vehicle data connection saves total costs. A digital twin for an EV battery would aid in the estimate of battery parameters for predictive maintenance. This paper presents a Digital Twin paradigm for EV battery management in which SoH is predicted in the cloud and SoC is estimated on-vehicle. A continuous learning method is also proposed for forecasting SoH, whereas the Kalman filter is used to estimate SoC. The proposed framework predicts the SoH with a mean square error of 0.022.

The development of sustainable electric vehicle business ecosystems

The development of sustainable electric vehicle business ecosystems

Battery Recycling Challenge Looms as Electric Vehicle Business Booms

Battery Recycling Challenge Looms as Electric Vehicle Business Booms

Buy, lease, or share? Consumer preferences for innovative business models in the market for electric vehicles

Although business models are critical to the successful market penetration and diffusion of sustainable innovations, little is known about consumer preferences for adopting electric vehicles (EVs) under innovative business models. Drawing on existing conceptualisations of business models, we study consumers’ preferences for three innovative EV business models: (i) battery-leasing, (ii) EV-leasing, and (iii) Business-to-Customer (B2C) EV-sharing, in addition to the conventional EV-buying model. By conducting a nationwide stated preference (SP) experiment in China, we show that consumers perceive battery-leasing and EV-buying models to be close substitutes, while EV-leasing and EV-sharing models are perceived as independent. Important monetary attributes are the operational cost saving in the battery-leasing model and the leasing cost in the EV-leasing model. Critical service and policy attributes include home charging capability, vehicle licensing policy, and the density of battery-swapping stations for the battery-leasing model. We also find that female consumers, those who are well-educated, and those who have a pro-EV attitude are most likely to adopt EVs in innovative business models. Our work has significant value for companies and government in terms of better designing and supporting the innovative business models for EV adoption.

Disruptive innovation, business models, and encroachment strategies: Buyer's perspective on electric and hybrid vehicle technology

According to disruptive innovation theory, customers are swayed by new market entrants through low-end encroachment strategies and/or new market disruption, but these predictions do not account for the rising interest in product categories such as electric vehicles in emerging markets. To bridge this research gap, we draw comparisons between disruptive and incremental innovation to account for electric and hybrid vehicles, respectively. We explore the misalignment between technological growth and customer satisfaction by comparing the electric vehicle business model with the hybrid vehicle business model based on three parameters: channels, value propositions, and customer relationships. Primary empirical data are collected from 307 survey participants. Structural equation modeling is then employed to investigate the similarities and differences between electric vehicles based on their disruptive innovation and hybrid vehicles based on their incremental innovation. We find that electric vehicles’ unique focus on channels leads to a positive influence on their business model and customer satisfaction, while focusing on value propositions leads to positive results for hybrid vehicles. Finally, we discuss the significance of the results considering electric vehicles’ high-end encroachment strategy within the luxury segment and contrast it with the relatively low-end encroachment strategy adopted by sellers of hybrid vehicles.

Business strategy in Bangladesh—Electric vehicle SWOT-AHP analysis: Case study

Electric vehicle (EV) has made a revolution in the automobile industry. The largest automobile industries are moving toward this. Within the next 5–10 years, the world will shift to EVs. Bangladesh is one of the emerging countries in Asia, so it will have great market potentiality. Bangladesh will have a big opportunity for EV business. However, there are some challenges too to introduce a new business model like EV business. In this study, we have tried to analyze the market potentiality and the business strategy in Bangladesh through strengths, weaknesses, opportunities, and threats analysis and analytical hierarchy process to analyze different strategies. These strategies had a feasible solution proved by sensitivity analysis.

Electric vehicles business models: an integrative framework for adoption of electric mobility

The study presents four business models currently being operational in different parts of the world in order to support the commercialisation drive of electric vehicles (EVs). With the help of extant literature, the author develops systematic and multidimensional frameworks on value creation and customers' adoptions barriers related to EVs. These multidimensional frameworks are then used to analyse the selected business models for their strengths and weaknesses. Findings of the study underscore differences in the business models adopted by the selected players with Tesla and e2o emphasising on product innovation while the other two, i.e., Carma and Wanxiang, focusing on the service dimension. The study recommends that adoption of a holistic approach combining product and service orientation in business models is necessary for wide-spread adoption of EVs. Besides, the role of forging partnerships across the value-chain partners and having policy support are also highlighted as key success factors for EVs.

Electric vehicles business models: an integrative framework for adoption of electric mobility

Electric vehicles business models: an integrative framework for adoption of electric mobility

The market case for electric mobility: Investigating electric vehicle business models for mass adoption

Electric vehicles (EVs) are becoming the next automotive technology to be widely diffused in society. However, many structural challenges remain to be addressed around the EV socio-technical system as the technology progresses from a niche to early and late mass markets. This study investigates the challenges for electric vehicles focusing on their current and future business implications. For this purpose, we rely on a robust sample of 227 semi-structured interviews, conducted by the authors, with transportation and electricity experts from 201 institutions across seventeen cities in Denmark, Finland, Iceland, Norway, and Sweden. Our findings show that EVs currently face an unfavourable business case, led by the legacy of the petrol and diesel car industries, and national market conditions. This results in an unsuitable business model and supply chain that compromises EV production and market offerings. Additionally, we find that for wide diffusion in society, EVs will change the traditional automotive selling chain, directly affecting selling methods (i.e. dealerships), maintenance revenue streams and refuelling (recharging) structures. It is therefore essential to adopt new models, practices and methods of business that are suitable for EV diffusion.

Alternative business models and entrepreneurship

Electrification of the car is an inevitable trajectory; only battery electric vehicles (EVs) give the option – provided a zero carbon generating mix is developed – of ultimately zero carbon and zero emissions transport. Yet this means disruptive change to the existing automotive and energy business models covering all sections of the value chain, which provides entry points for new, entrepreneurial operators from outside the sector bringing with them new business models. We are entering a transition period, where some of these alternative business models are already seen to work and those of Autolib and Tesla are highlighted here. New electric vehicle (EV) business models need to extend beyond the boundaries of the business itself and should also include a consideration of context and environment, or ‘regime’ (Geels, 2002), particularly in the role of government. It should be emphasized that EV business models are dynamic, still emerging and are currently enjoying artificial market conditions due to widespread incentives. Private and public sector players are still exploring what their respective roles should be in future EV business models.

Organizing business ecosystems in emerging electric vehicle industry: Structure, mechanism, and integrated configuration

The paper develops the structure of business ecosystems, operating mechanisms and integrated configuration models by examining multiple case studies of electric vehicle (EV) producers in China and the EU (Germany, France and Denmark). The EV ecosystem can be categorized into four paradigms using a target market (mainstream or niche innovation) and growth context (advanced economies or emerging economies). These four paradigms are advanced mainstream, advanced niche, emerging mainstream and emerging niche. This research also explores three key operating mechanisms with which to organize EV business ecosystems, namely vision developing, platform organizing and institution re-configuring. As a latecomer,compared with western paradigms, the development of Chinese EV industry is more openly engaged with vision development, platform organization and institution reconfiguration, such as government regulation.

Framing the Competitive Behaviors of Niche Players: The Electric Vehicle Business Ecosystem Perspective

The approach on the research of business ecosystems’ actors evolved as result of the analogy with the biological ecosystem. Based on this analogy, three major strategies were selected and defined, in following roles: keystones, dominators and niche players. However, the behavior of different actors was framed differently within already existing industries. From this point of view, this paper aims to emphasize the change of actor behaviors based on the main adopted strategy. Therefore, the role of niche players was chosen as analysis unit. A critical analysis of the literature was performed in order to classify the features of niche players. Hence, the competitive behaviors of actors were identified based on their visibility in relation to their impact on the business ecosystem. From this point of view, based on a case study approach, evidence of identified competitive behaviors in the automotive industry was provided. The result emphasized the dynamic change of actors’ behavior within their business ecosystem and the importance of the actors’ positioning in relation to the produced effect. Additionally, based on framed competitive behaviors, the linkage between the adopted strategy and the actors’ performance within the automotive business ecosystem was illustrated.

Secondary use of Electric Vehicle Batteries and Potential Impacts on Business Models

The universal market adoption of electric vehicles (EVs) is still impeded by the high cost of batteries. Repurposing EV batteries in secondary applications could recoup a portion of that initial cost and reduce upfront EV costs. Further, when integrated in energy storage systems for renewables, second-life batteries could clean the electricity mix for EV charging and alleviate environmental concerns over battery disposal. This paper presents business models of different EV stakeholders that facilitate battery reuse. Based on interviews with various stakeholders, as well as industry reports and academic literature, we analyze the deciding factors for battery “post-vehicle” applications and their potential impacts on EV business models. The findings emphasize the importance of battery ownership, inter-industry partnerships, and policy support. In this early stage, government support constitutes the most important trigger for battery reuse. The results also suggest the potential of battery reuse as a catalyst for EV business model reconfiguration.