Electric vehicles in Europe
Added on 2021-02-19
10 Pages3278 Words37 Views
ESSAY ON ELECTRICVEHICLES IN EUROPE
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Overview......................................................................................................................................1Forces shaping business environment of car manufacturing industry.........................................1Changes that may take place in the future and reason for such changes.....................................4Reason due to which there is a drive towards the production of electric cars.............................4New emerging business opportunities for entrepreneurs and business executives for productionand marketing of electric cars......................................................................................................5Businesses linked to the automotive industry..............................................................................6CONCLUSION ...............................................................................................................................6REFERENCES................................................................................................................................8
INTRODUCTIONElectrical vehicles are also known as EV, these are a kind of vehicles that uses electricmotors as a fuel for propulsion (Frankenberger and Stam, 2019). This essay will lay emphasis ongearing up of electric vehicles, different forces shaping the business environment of carmanufactures, changes that has already taken place which is giving companies competitiveadvantages and business opportunities of electric cars.MAIN BODYOverviewIn last five years overall market of auto-mobile industry has successfully doubled.Continuous changes and invention within this industry has brought both positive and negativeeffect on this industry. As the disposable income of families is increasing there is rise in sales ofautomotive vehicles. Due to this various changes has been brought within this industry which hasalso helped in lowering the overall cost of vehicle. Today as per increasing demand of both twoand four wheelers, luxuriousness and overall affordability of cars is been focused and isincreased. Initially vehicles were made as per the demand and needs of the customers but todaythey are made as per desire, requirement and luxuriousness of people (Colmenar-Santos andet.al., 2019). Today more people are becoming environment friendly due to which manycompanies in this industry are trying to bring innovation and produce low emission vehicles suchas electric vehicles as it is one of the most environment friendly vehicles that can be used bycustomers.Forces shaping business environment of car manufacturing industryThere are various factors due to which changes within this industry has occurred and has helpedin shaping this industry the way it is today. It can be explained with the help of PESTLEanalysis.PESTLE Analysis of international environment factors at work in the industryEnvironmental factors due to which changes occur in this automotive industry can beexplained with the help of PESTLE analysis. PESTLE analysis will show different waysenvironmental factors can affect this industry:Political: it is one of the main factor that has a direct impact on this industry. Most of thegovernments today are supporting low emission vehicles and are making strict laws related to it.Due to these laws demand for electric vehicles had increased. All the automotive companies1
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