Business Plan for Alset Automotive Plc: Utilizing Hyper-Automation and Electric Car Technology

This business plan outlines the objectives, situational analysis, SWOT analysis, PESTLE analysis, competitive analysis, and market trends for Alset Automotive Plc, a new start-up in the UK automotive industry that aims to develop new car models utilizing hyper-automation and electric car technology.

LETICIA ANSOMAH
7101
ENTREPRENEURSHIP
BUSINESS PLAN
ACADEMIC YEAR
2021/2022
SUBMISSION DATE
10/01/2022

Table of Contents
INTRODUCTION...........................................................................................................................3
Business Plan...................................................................................................................................3
Company Overview................................................................................................................3
Vision and Mission.................................................................................................................4
Objectives...............................................................................................................................4
Situational analysis..........................................................................................................................4
SWOT Analysis......................................................................................................................4
Pestle Analysis........................................................................................................................5
Competitive Analysis.............................................................................................................7
Market trends..........................................................................................................................9
STP (Segmentation, Targeting and positioning) .................................................................10
Marketing Strategy...............................................................................................................11
Financial planning................................................................................................................12
Monitoring and Evaluation...................................................................................................13
CONCLUSION..............................................................................................................................14
References:.....................................................................................................................................15
UK government partners with disability charity to set standards for electric vehicle chargepoints
........................................................................................................................................................16

INTRODUCTION
In the competitive business environment there is emergence of different technology that is
leading to technological advancements to the great extent. In order to sustain in the competitive
business environment the businesses are coming up with new business ideas that effectively
utilize new technology (Pandey, Manochaand Saini, 2020). The person generating new business
idea is known as entrepreneur. A process of generating new idea and transforming it into the new
business venture is known as entrepreneurship. Business plan is the detailed and structured
document that describes the objectives of the new start-up and what other requirements are there
for starting a new business venture. The present report is the business plan of starting a new
automotive business venture” Alset automotive plc”. The new venture is coming up with new
product that is cars and vehicles that has compliance of hyper automation and electric car
technology. The business plan is developed on the basis of the SOSTAC Model. The purpose of
this business plan is to gain the opportunities of these two technologies in order to gain
profitability and also to contribute to environment in healthy and ethical manner.
Business Plan
Company Overview
The “Alset automotive plc” is the new business start-up developed in the UK automotive
industry. The company is new small business start-up that aims to develop new car models that
are affordable, efficient in working, energy efficient, fuel free and has the emergent of two new
technology i.e. hyper- automation and electric car technology (Milev and Al-Habaibeh, 2020).
The company's product is the new car that is highly advanced with the above two new
technologies. The company is located in the centre of the London. The company is considered
under the SME and the development of this new company has its major impact on growing the
economy.
his business plan is for the new automotive business venture “Alset automotive plc”. The
purpose of starting this new business venture is to utilize the new emerging technology hyper-
automation and electric car technology in developing new car models that are sustainable and
Eco- friendly. The business plan aims to outline every single detail of the new venture by
analysing the market, competitors, financial planning and future exploitation of the opportunities.

Vision and Mission
Vision:
The company has a vision to create a new value, excite and delight the customers with new cars
that are highly advanced and fast and completely sustainable.
Mission:
The company has mission to become first entrepreneurial venture of the UK that is effective in
using electric car technology and hyper automation technology.
Objectives
 To become the most sustainable automotive organisation of the UK automotive industry.
 To gain competitive advantage with new technologies in the new car model.
 To earn profitability and productivity with the launch of new product.
 To use renewable greenery in order to avoid environment disruptions and degradation
caused due to fuel.
Situational analysis
SWOT Analysis
The SWOT analysis is the effective tool to analyse the key strengths and weaknesses of the
company in the existing market and also help in analysing the opportunities that company can
acquire in the future. The SWOT analysis of the Alset automotive plc is conducted below:
Strengths
 The major strength of the Alset automotive plc is its latest hyper-automation and electric
car technology of the company is the key strength. This help the company to lead the
market as an start- up and also help in gaining sustainable competitive advantage and
profitability in UK automotive industry. This technology of the company is highly
affordable, eco- friendly for the environment, easy to use, economical and most
importantly is competent with current business environment.
Weaknesses
 The financial health of the company is highly low as for acquiring such technology and
for developing a car there is requirement of high amount of funds. But as the company is

start- up it has low financial health therefore, company is struggling in searching for
different source of finances due to which the process of developing the car is been
delayed. This weakness can also bring a threat of lack of resources to the company
thereby making the product less effective and less attractive (Afshar and et. al., 2020).
Opportunities
 As the automotive industry is transforming itself into the fuel free engines and
completely electric. With the companies strength of two technologies that are highly
supportable for this market opportunity, the company can effectively grab an opportunity
to launch a new car electric car that uses the two top most technologies of the automotive
industry that is electric car technology and hyper – automation will help in gaining the
competitive edge and huge amount of popularity in the UK market.
Threats
 The customers and infrastructure both are still resistant with the new technologies of the
Alset automotive plc cars. As the customers are not well versed about using the hyper
automation vehicles and cars because this is the new concept in car models and previous
cars were operated and drove by the driver itself. This brings risk and threat to their life
as the any technical error in technology can unbalance the whole operations of car (Tal
and et. al., 2020). Also the infrastructure of the UK is not appropriate with the new car
model which may cause threat of accidents and harmful road hazards. The company has
huge threat that is required to be mitigated on time in order to successful
commercialization of the new product of new company.
Pestle Analysis
The PESTLE Analysis is the effective frame work to analyse the external market in which the
new business venture will operate. The external environment factors are essential to be analyse
precisely so that company can make effective decisions in future.
Political factors:
In UK there is huge political stability due to which it is easy for the start-ups to establish
themselves. For the entrepreneurs this factor is only concerned with the government permission

in starting a new technology oriented automotive firm. Emergence of electric car that is
sustainable and good for environment and also increase the worth of country is good for
government therefore, the political factor will act in favour of the company (UK government
partners with disability charity to set standards for electric vehicle charge points, 2021).
Economic factors:
The economic stability of the UK is currently grappling the recession due to the occurrence of
global pandemic. The new start-up of automotive venture is complied with two most profitable
emerging technologies which will help the company in increasing its economy of the UK. Also,
the technology is always a factor for the growing economy (Knobloch and et. al., 2020).
Therefore, for the Alset automotive plc to sustain in market it is favourable factor as the
company will also create the new employment for the labour market of UK.
Social factors:
The culture, lifestyle, behaviour of customers and society are always the factors that plays
important part in the decision making of the new venture and its products. The Alset Automotive
plc has paid attention to every detail of the society in order to develop something that can meet
the needs of the customers. The society is highly concerned for the environment and surrounding
in which they live and is also getting tech savvy- this factor is favourable for the Alset
automotive industry (Tal and et. al., 2020).
Technological factors:
The technology is the base of this new venture of the automotive sector. The Alset automotive
plc is created with the help and compliance of two most leading emerging technologies electric
car technology and hyper- automation. Both the technology are positive factor for the company
as through this company is able to develop a new car model that is highly eco- friendly,
sustainable, profitable and affordable to the audience. Also the in term of technology the product
has the latest version of hyper automation technology which consumes less energy and also has
feature of zero carbon emission (Giansoldati, Monte and Scorrano, 2020).
Legal factors:

The legal rules and regulations such as legal registration under the UK government, GDPR, UK
employment laws, National minimum wage, VAT registration and much more are always
important for starting a new business venture. As there are huge number of formalities,
documentation and legal allowance papers to start a new venture that is ethical and legal. The
Alset automotive plc is entering as a new entrepreneurial venture in UK automotive sector and to
operate legal right the company has to fulfil the legal obligations such as intellectual property
rights. The Alset automotive sector has effectively taken all the legal actions in order to conduct
ethical use of the technology.
Environmental factors:
The environment is always a priority for the government and citizens living in it. Every business
is trying converting all its operations in the favour of the environment. The Alset automotive plc
is highly good venture for the environment as the company has been using the effective
technologies such as electric cars and hyper – automation that is highly sustainable for the
environment. The objective of the company is to develop the car models and cars that are good
for the environment.
Competitive Analysis
For the competitive analysis of the market in which the company will enter there is the effective
analytical tool known as Porter's five force framework. This framework is useful in identifying
the five forces that will shape the new business venture into the competitive automotive industry
of UK. The five forces are discussed below:
Bargaining power of Buyers:
In the automotive industry and particularly in the car manufacturing segment the buyers have
strong bargaining power. In the automotive industry the buyers are mainly individuals that buy
one car but there are governments and corporations are the one that usually buy large number of
cars where they can bargain for lower prices. Also there are many alternatives available in the
market making the bargaining power of buyers more high.
Bargaining power of suppliers:

In the automotive industry the suppliers are very less and the limited suppliers are selling the
very essential resources to the other manufactures this brings high power to the suppliers
(Jiménez-Ramírez, 2021). For Alset automotive plc in order to have enough supply of both
technology so that best car can be developed and launched in market there is requirement of
suppliers and they seemed to have high bargaining power as the technology is are and also it is
emerging in the market (Ostroukh and et. al., 2021).
Threat of substitutes:
There are very limited organisations and car manufacturers in the UK automotive industry and
also the manufacturers of the electric car and hybrid cars are very less. This reason is beneficiary
for the business of the Alset automotive plc as the company as new comer with such effective
transformation in car model with new technologies is differentiable and incompetent for any
other substitutes. The substitutes of the car of the Alset are products of the companies like Rolls-
Royce, Aston Martin, Tesla, Bentley, Land Rover and much more. But the business model of the
Alset works on low price strategy which makes the company more competitive from other
brands as they all operate in luxury segment which is not affordable by all. Also as the
company's products has latest version of hyper automation technology which is unique has more
competency. Thus, this will maintain the power of the company in market without any threat of
substitutes because the company is coming up with entrepreneurship and innovation in the
market.
Threat of new entrants:

The already existing organisation that manufacture the fuel based vehicles like cars and scooters
are also planning to come up with modification in their car models by utilizing the different
merging technologies. This factor is concern for the Alset automotive plc as the company may
face low sales because the already existing company has huge customer base and market share
which will be easy for them to launch new product and promote it among audience. This will
make difficult for the Alset plc to compete in the market. Therefore, the company will require
differentiable product and effective promoting strategy to reach the target audience.
Competitive rivalry:
in the UK market of the automotive industry there is large amount of competition. The leading
brand of the electric cars Tesla is one of the key competitors of the Alset automotive plc. The
company has highly effective driverless, automated, fuel free and electric car that has gained
enough popularity in the different market (Mazilescu, 2021). Therefore, the company is going to
face enough competition and to stay ahead of the competition the company must come up with
effective entrepreneurship skills and innovation in their product and also effectively use the two
technologies in order to create differentiation with the competitors as this will help them in
gaining competitive edge.
Market trends
The market of the automotive industry is huge and full of new trends and technologies. The
consumer trends, car models etc. keep changing at the fast pace with the changing market trends.
In this segment of the industry where the technology plays most essential part in changing the
market trends the Alset is also result of such change iby opting the latest hyper-automation
Artificial intelligence technology. The different market trends of the automotive industry of UK
are discussed below:
 In the market the key trend is currently of the electric cars and vehicles (Automotive
revolution – perspective towards 2030, 2021). The growing concern for the environment
and increasing fuel prices the customers demand from the car manufacturers has changed
towards sustainability. Most of the companies of this industry are planning and working
on their models and techniques in order to meet the current market of electric vehicles.
(Borchmann and et. al., 2021). This trend is highly beneficial and useful for the

environment as the electric cars are fuel free which in turn protects the environment
pollution and degradation creating the sustainability. Therefore, sustainability in the
automotive industry has become the necessity with changing customer preferences and
government rules. The UK government through the sustainable development goals in the
industry and manufacturing sector is enforcing this principle for the car manufacturing
organisation. The sustainability is the future needs as this emphasizes on the protecting
the resources for the future generation.
 The another key trend of this industry is hyper-automation artificial intelligence
technology that introduced the features like driverless, self-automated parking, different
sensing powers and much more into the cars. This trend is also gaining huge fame in the
market as the people are more looking for effortless driving experience. This trend is yet
risky and requires a very well versed knowledge before creation and must be tested 100
times before launch in order to create safety and security.
STP (Segmentation, Targeting and positioning)
For the business planning the STP is the very crucial and most useful stage to encounter as the
selecting the right target audience is highly essential in order to create loyal and long term
positioning.
Segmentation:
For the products of the Alset automotive industry the market is segmented on the basis of
lifestyle, behaviour, income, occupation, geographical location and much more. For the products
of the Alset automotive plc the customers with luxurious lifestyle and income more than £60,000
are segmented. The UK car industry has stated a new car trade agreement with EU that
welcomes tariff free post Brexit trade agreement. This means te UK and EU union can trade cars
and their parts without tariff. The occupation for the segment will be mangers, lawyers;
employees are top MNCs, celebrities and politicians.

Targeting:
The company will target the group of customers that are more into buying and using the
sustainable vehicles and can also spend ahuge some on money on same. As the product of the
Alset plc is under luxurious segment and is also expensive means can requires good income to
buy a product. Also the company will target the customers that are crazy for new fast, automated
electric cars and have lifestyle of living luxurious and comfortable life.
Positioning:
For the positioning of the brand and its products the company has effective sustainability strategy
as the product is highly safe for environment and is chargeable through electricity making the
environment safe in comparison to fuel based cars. Also the quality of the vehicle is great
because it is made with water proof and rust proof material, it has high mileage, smooth and fast
brakes, tubeless tyres and much more. It is complete technology oriented which is also seemed
as the key positioning strategy and it also has inbuilt solar panels that will consume energy for
emergency sceneries such as lack of electricity supply.
Marketing Strategy
Marketing of a product and a brand is essential part of business planning. For the Alset
automotive plc to effectively reach their customers and to promote its product and brand in the
market of UK effective marketing plan and strategy is crucial and mandatory, (Tursunov, 2021).
For the promotion of the products of the Alset plc and its brand the two most effective marketing
strategies are discussed below:
Social media marketing:
The social media is currently the strongest tool and platform for any small and large size
business to market its products among the large audience. The company must use social media
marketing strategy by creating unique, creative social media content such as videos, informative
content, photos of new brand and products. This strategy is highly influential and has a global
reach (Tursunov, 2021).
.
Advertisements and promotional campaigns:

For the effective marketing of the products and brands of the company among the right market of
the customers this strategy contains high potential. The Alset automotive plc must advertise its
brand and products on TV and newspaper with creative content that attract the users attention.
Also the company can launch a new car model through campaign or live event in order to have
more visits of customers and sale is increased through such tactics.
Financial planning
A business cannot be run without the finance because the money is the lifeblood for any
organisation to operate its daily activities. In order to start a new business venture like Alset
automotive plc there is requirement of huge sum of finance as the technologies and resources for
the car development is highly expensive. In order to have appropriate flow of cash throughout
the creation of business and its products the company must consider the financial planning as the
foremost activity. The planning, organising and allocation of the finances is known as the
financial planning. The different sources of funds are for the Alset automotive plc:
Bank loans:
Access of money through loans is the best form of funding source as the government offers
different offers for the start- ups and for the business plans that are for creating sustainability.
(Bobeth and Kastner, 2020). The bank loans have low interest and can be paid into the
instalments
.
Venture capitalist:
The venture capitalist are also good source of funding as an start- up as they also pay attention
to business progress, take part in decision making which is highly useful for the new business as
the second suggestion is useful in making right decisions related to business growth and
development (Bobeth and Kastner, 2020).
Budget
The budget is very crucial for the business to allocate all its resources appropriately and also to
manage the flow of cash into the business. Going as per the budget also help in maintain the cost
of the business. The Budget of the Alset automotive plc is demonstrated below:
Total forecasted budget

Particular 31/12/15 ($) 31/12/16 ($) 31/12/17 ($)
Implementing
technology cost
16000 - -
Promotional expense 8000 9000 8000
Advertisement expense 5000 6600 6800
Catalogues 3000 5000 4000
Training charges 7500 7000 7500
Total Cost 39500 27600 26300
Monitoring and Evaluation
After all the planning and execution of the business plan the evaluation and monitoring is highly
important in order to identify the worth of the business. For the monitoring and evaluation of the
Alset automotive plc business the different performance indicators and KPIs are used and
discussed below:
Key performance indicator:
This performance measurement tool is highly efficient and effective in analysing the
performance of the particular event, project or a business start- up. This performance
measurement tool will help in analysing how effectively the Alset plc is achieving its
organisational goals and objectives. This will be useful in recognising the success of the business
as an start- up and also let the company know what to improve in order to increase their
efficiency to sustain in the new market in future (Bobeth and Kastner, 2020).
Benchmarking:
This is the effective technique to measure the performance of the company’s product in
comparison of another product. For the Alset plc the benchmarking is highly useful as the
company’s product is unique, well complied with new technologies and is launched to replace
the fuel based cars. The fuel based cars will the benchmark for the company as the company

want to have high performance of electric car in order to eliminate the usage of the fuel based
cars to meet its organisation objectives.
CONCLUSION
It is concluded from the above report that for an entrepreneur to start a new venture there are
several elements and parameters that essential to be recognised earlier in order to launch a
successful venture and its products. The technology is highly useful in supporting the business
ideas of entrepreneurs and also to enhance their entrepreneurship capabilities. Thus there are
many emerging technology that are providing wide range of opportunities to the entrepreneurs to
develop something new by complying with the technology and also technology are sustainable
means of growth and development in long run future.

References:
Books and Journals
Pandey, D., Manocha, D. and Saini, D., 2020. A study on an automobile revolution and future of
electric cars in India. International Journal of Management (IJM), 11(3).
Milev, G. and Al-Habaibeh, A., 2020. If all cars were electric, UK carbon emissions would drop
by 12%. The Conversation.
Sun, X and et. al., 2020. Technology development of electric vehicles: A
review. Energies, 13(1), p.90.
Afshar, S and et. al., 2020, June. A literature review on mobile charging station technology for
electric vehicles. In 2020 IEEE Transportation Electrification Conference & Expo
(ITEC) (pp. 1184-1190). IEEE.
Tal, G and et. al., 2020. Electric Cars in California: Policy and Behavior Perspectives. In who’s
Driving Electric Cars (pp. 11-25). Springer, Cham.
Knobloch, F and et. al., 2020. Net emission reductions from electric cars and heat pumps in 59
world regions over time. Nature sustainability, 3(6), pp.437-447.
Giansoldati, M., Monte, A. and Scorrano, M., 2020. Barriers to the adoption of electric cars:
Evidence from an Italian survey. Energy Policy, 146, p.111812.
Jiménez-Ramírez, A., 2021, September. Humans, Processes and Robots: A Journey to
Hyperautomation. In International Conference on Business Process Management (pp.
3-6). Springer, Cham.
Ostroukh, A.V and et. al., 2021. Hyperautomation in the Auto Industry. Russian Engineering
Research, 41(6), pp.532-535.
Mazilescu, V., 2021. Tourism Industry must benefit from IT&C Hyperautomation. Annals of the
University Dunarea de Jos of Galati: Fascicle: I, Economics & Applied
Informatics, 27(1).
Borchmann, Ł and et. al., 2021. Measuring the State of Document Understanding.
De Silva, D. and Alahakoon, D., 2021. An Artificial Intelligence Life Cycle: From Conception to
Production. arXiv preprint arXiv:2108.13861.
Tursunov, A., 2021. Modern factors influencing the development trends and strategies of
information and communication technologies. Thematics Journal of Social
Sciences. 7(4).
Bobeth, S. and Kastner, I., 2020. Buying an electric car: A rational choice or a norm-directed
behavior?. Transportation Research Part F: Traffic Psychology and Behaviour, 73,
pp.236-25

Automotive revolution – perspective towards 2030, 2021, [Online], Available through:<
https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/
disruptive-trends-that-will-transform-the-auto-industry/de-DE>
UK government partners with disability charity to set standards for electric vehicle chargepoints
,2021, [online], Available through:<https://www.gov.uk/government/news/uk-government-
partners-with-disability-charity-to-set-standards-for-electric-vehicle-chargepoints>