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Harvard Case - The New War of the Currents: The Race to Win the Electric Vehicle Market

"The New War of the Currents: The Race to Win the Electric Vehicle Market" Harvard business case study is written by Tim Kraft, Suriyaprakash Alagesan, Jimit Shah. It deals with the challenges in the field of Operations Management. The case study is 13 page(s) long and it was first published on : Dec 17, 2020

At Fern Fort University, we recommend that Volkswagen (VW) adopt a comprehensive strategy to accelerate its electric vehicle (EV) development and market penetration. This strategy should focus on leveraging its existing strengths in manufacturing, global reach, and brand recognition while aggressively pursuing innovation, operational efficiency, and a customer-centric approach. This will involve a multi-pronged approach encompassing product development, supply chain optimization, digital transformation, and strategic partnerships.

2. Background

The case study examines the intensifying competition in the global EV market, particularly the challenges faced by Volkswagen, a traditional automotive giant, in its transition to a leading EV player. The case highlights the rapid technological advancements, evolving consumer preferences, and increasing regulatory pressures driving the shift towards EVs. It also showcases the rise of new players like Tesla, who have disrupted the industry with their innovative approach and focus on technology and sustainability.

The main protagonists in the case are:

  • Volkswagen: A global automotive giant facing the challenge of adapting to the rapidly changing EV landscape.
  • Tesla: A disruptive EV manufacturer known for its technological innovation and customer-centric approach.
  • Other established automakers: Companies like Toyota, General Motors, and Ford are also investing heavily in EV development.
  • New EV startups: Companies like Rivian and Lucid Motors are emerging as strong contenders in the premium EV segment.

3. Analysis of the Case Study

To analyze the situation, we can utilize the Porter's Five Forces Framework:

  • Threat of New Entrants: The EV market is attracting new entrants due to lower barriers to entry compared to traditional combustion engine vehicles. This poses a significant threat to established players like VW.
  • Bargaining Power of Buyers: Consumers are increasingly demanding EVs with advanced features, competitive pricing, and a robust charging infrastructure. This gives buyers significant bargaining power.
  • Bargaining Power of Suppliers: The supply chain for EV components, particularly batteries, is concentrated, giving suppliers leverage in negotiations.
  • Threat of Substitute Products: While EVs are currently the primary alternative to gasoline-powered vehicles, other technologies like hydrogen fuel cells could emerge as potential substitutes in the future.
  • Competitive Rivalry: The EV market is highly competitive, with established players and new entrants vying for market share. This intensifies the pressure on VW to innovate and differentiate its offerings.

Key challenges for VW:

  • Technology Gap: VW needs to close the technological gap with Tesla and other EV pioneers in areas like battery technology, autonomous driving, and software integration.
  • Supply Chain Volatility: Securing a reliable and cost-effective supply chain for key EV components, especially batteries, is crucial for VW's success.
  • Brand Perception: VW needs to overcome the perception that it is lagging behind in the EV race and re-establish its brand image as a leader in sustainable mobility.
  • Charging Infrastructure: Developing and expanding a robust charging infrastructure is essential to address consumer range anxiety and promote EV adoption.

4. Recommendations

To address these challenges, VW should implement the following recommendations:

1. Accelerate EV Development and Innovation:

  • Invest heavily in R&D: Focus on developing next-generation battery technologies, advanced powertrain systems, and autonomous driving capabilities.
  • Acquire or partner with innovative startups: Leverage external expertise in areas where VW lacks internal capabilities.
  • Prioritize software development and digital integration: Develop connected car features, over-the-air updates, and user-friendly interfaces.

2. Optimize Supply Chain Management:

  • Secure long-term battery supply agreements: Establish strategic partnerships with battery manufacturers to ensure a stable and cost-effective supply.
  • Develop a flexible and agile manufacturing system: Utilize lean manufacturing principles, Six Sigma methodologies, and Just-in-Time production to optimize efficiency and reduce waste.
  • Implement robust inventory management systems: Utilize forecasting methods, MRP, and ERP systems to optimize inventory levels and minimize stockouts.

3. Embrace Digital Transformation:

  • Invest in data analytics and artificial intelligence: Utilize data to optimize production processes, improve customer service, and personalize marketing campaigns.
  • Develop a strong online presence: Enhance the digital customer experience through online ordering, virtual showrooms, and personalized recommendations.
  • Leverage the Internet of Things (IoT) to connect vehicles and infrastructure: Improve vehicle performance, enhance safety features, and optimize charging efficiency.

4. Build Strategic Partnerships:

  • Collaborate with charging infrastructure providers: Develop partnerships to expand charging network coverage and improve customer convenience.
  • Form alliances with technology companies: Partner with tech giants to integrate advanced software and connectivity solutions into VW vehicles.
  • Explore joint ventures with other automakers: Collaborate on research and development, shared manufacturing facilities, and joint marketing initiatives.

5. Redefine Customer Experience:

  • Focus on customer-centricity: Design EVs that meet evolving consumer needs and preferences, emphasizing sustainability, technology, and comfort.
  • Provide exceptional customer service: Offer personalized service, convenient charging options, and proactive maintenance support.
  • Engage with customers through social media and online communities: Build a strong brand community and foster customer loyalty.

5. Basis of Recommendations

These recommendations are based on the following considerations:

  • Core competencies and consistency with mission: VW's existing strengths in manufacturing, global reach, and brand recognition provide a solid foundation for its EV strategy. The recommendations align with VW's commitment to sustainable mobility and its ambition to become a leading EV player.
  • External customers and internal clients: The recommendations address the evolving needs and preferences of EV customers, while also considering the perspectives of internal stakeholders like employees and suppliers.
  • Competitors: The recommendations aim to position VW as a strong competitor in the EV market by focusing on innovation, efficiency, and customer experience.
  • Attractiveness: The recommendations are expected to enhance VW's profitability and market share in the long term. While quantifying the impact requires detailed financial modeling, the strategy is expected to generate positive returns on investment.

6. Conclusion

VW faces a significant challenge in its transition to a leading EV player. However, by embracing a comprehensive strategy that combines innovation, operational excellence, and customer-centricity, the company can overcome these challenges and establish a strong position in the rapidly growing EV market. The recommendations outlined above provide a roadmap for VW to achieve this goal and secure its future as a leader in sustainable mobility.

7. Discussion

Alternatives not selected:

  • Focusing solely on cost reduction: While cost optimization is important, it should not come at the expense of innovation and product quality.
  • Ignoring the importance of digital transformation: Failing to embrace digital technologies would put VW at a disadvantage in the increasingly connected EV market.
  • Delaying investments in charging infrastructure: This would hinder EV adoption and create a barrier to customer satisfaction.

Risks and key assumptions:

  • Technological disruptions: Rapid advancements in battery technology and autonomous driving could render VW's current investments obsolete.
  • Economic uncertainty: Global economic downturns could impact consumer demand for EVs and hinder VW's growth plans.
  • Regulatory changes: Shifts in government policies and regulations could create challenges for VW's EV strategy.

8. Next Steps

To implement the recommendations, VW should:

  • Develop a detailed implementation plan: Define specific timelines, milestones, and resource allocation for each initiative.
  • Establish a dedicated EV task force: Assemble a cross-functional team to oversee the implementation of the strategy.
  • Communicate the vision to stakeholders: Clearly articulate the strategy to employees, customers, and investors to ensure alignment and support.
  • Monitor progress and adapt as needed: Regularly review performance indicators and make adjustments to the strategy based on market dynamics and evolving customer needs.

By taking these steps, VW can successfully navigate the 'New War of the Currents' and secure its position as a leader in the electric vehicle revolution.

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Case Description

The automobile industry is going through a dramatic change as electric vehicles (EVs) rapidly gain in popularity. Two companies in particular have dominated the EV market over the last decade: Tesla and Nissan. However, Nissan, despite its global presence and production capability, has lost significant market share to Tesla. Going forward, the company's operational and strategic decisions are vital to its success in the EV market. Tesla, on the other hand, has aggressively gained market share over the past decade, becoming the most dominant player in the EV market. The company has taken unique approaches for its supply and operations. Will Tesla be able to scale its operations to meet the rapidly increasing demand for EVs? With other large global automakers now turning their attention toward the EV market, will Tesla and Nissan be able to retain their market shares? This case discusses the approaches taken by Nissan and Tesla with their operational, supply chain, and marketing strategies to become leading EV manufacturers. It also sets the stage for the discussion on whether or not their current approaches will be optimal going forward.

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