The Impact of Electric Cars on the Global Market

This research report explores the impact of electric cars on the global market, with a focus on Tesla. It examines the requirements of introducing electric cars in the automobile industry, the benefits that Tesla can attain by launching electric cars, and the challenges faced by Tesla in the global market. The report also discusses the research methodologies used in the study.

The impact of electric
cars on the global
market

Table of Contents
TITLE: Impact of electric cars on the global market...................................................................................3
A) INTRODUCTION..................................................................................................................................3
B) THEORETICAL BACKGROUND AND RESEARCH FOCUS...........................................................3
Requirements of introducing electric cars in automobile industry...........................................................4
Several benefits that will be attained by Tesla by launching electric cars................................................5
Differentchallenges faced by Tesla while introducing electric cars at global market place.....................5
C) JUSTIFICATION & CONTEXTUALIZATION....................................................................................6
D) RESEARCH METHODOLOGIES........................................................................................................7
REFERENCES..............................................................................................................................................11
Books & Journals...................................................................................................................................11

TITLE: Impact of electric cars on the global market.
A) INTRODUCTION
In the present competitive environment, it is very essential for every organization to develop new
and innovative products so that they can maintain the level of competition and grab ample
number of opportunities available at the marketplace. Electric cars are one of the most innovative
product developed by various organisations in order to fulfil the requirements of customers.
Other automobile products requires fuel, diesel, petrol which are limited in nature therefore,
electric cars are launched by companies to reduce the negative impact of such resources
(Kapustin and Grushevenko, 2020). Tesla is chosen as the base company which is an American
electric vehicle as well as clean energy organization based in California, US. The companywas founded
in the year 2003 and are specialised in developing electric cars. thepresent research, a
detailedanalysis is conducted on identifying the impact of electric cars on global market. Itis a
research report consists of various topics in which first and most important element is developing
research aim and objectives so that whole investigation can be conducted in an effective manner.
Apart from this, another essential dimension is literature review whereresearchers identify views
and opinions of different authors so that they can enhance their understanding on a particular
topic and draw valid conclusion. At last research methodology is a topic which is adopted by
investigator in order to gather information and data from different sources so that they can
complete the whole research in an effective manner within given period of time.
B) THEORETICAL BACKGROUND AND RESEARCH FOCUS
Aim
To investigate the impact of electric cars on the global market.A case study on Tesla
Research Objectives
1. To identify therequirements of introducing electric cars inautomobile industry.
2. To determineseveral benefits that will be attained by Tesla bylaunching electric cars.

3. To find out different challenges faced by Tesla while introducing electric cars at global
market place.
Research Questions
 What arerequirements of introducing electric cars in automobile industry?
 What are the several benefits that will be attained by Tesla by launching electric cars?
 What are the different challenges faced by Tesla while introducing electric cars at global
market place?
Review key publications
Requirements of introducing electric cars in automobile industry
According to the view point of Gardner, the world is repeatedly changing towards the
electronic vehicles this is because petrol and diesel are non-renewal rescores and decreasing
frequently and they also have negative impact on environment because they produce hazardous
gases which lead to global warming and climate change. For solving tis problem there is
introduction of electric cars which are more comfortable and easy to operate without the use of
petrol and diesel. They operate on renewal energy sources which can be revive like electricity
which will help in saving limited and non-renewal resources for upcoming generation and other
important functions. This is also a green project because it does to remit hazardous gases and use
environment friendly technology which help climate in survival and reduce exhaustion of earth
resources. Gardner also stated that, one of the reasons for bringing electronic cars in automobile
industry is government interventions, as number of governments are taking corrective actions
against climate change and global warming where the main emphasis is on electronic vehicles as
they have zero emission of hazardous gases in environment (Heiteland et al. 2020). Even UK
government has formed a law regarding compete ban on manufacturing and operating petrol and
diesel car by 2040. Another reason for introduction of these cars to industry is there number of
variety and comfort level for customer. Fully electronic cars and hybrid cars are the two kinds of
variants which are available in market. The looks and variety of electronic are something
different from the regulate petrol/diesel cars, there is more space because of change in heavy
petrol and diesel engine, this help company to make cars more comfortable and stylish in looks

which can attract customer easily. So according to study these are reasons which are related to
introduction of new and stylish electronic cars to the automobile industry.
Several benefits that will be attained by Tesla by launching electric cars
As per the opinion of Eisler, Tesla is known for its world class technological products and
innovation projects which help world in getting favourable to technology and lead the world with
the help of it. Tesla motors is working on use of renewal energy form long time this also help
firm in management of natural resources and reduce the exhaustion of natural environment by
discontinue the use of petrol and diesel cars. Tesla is lunching electronic car in market on which
firm is researching from last 10 years. This is designed to provide best level of comfort and
safety to its user and help them in getting access to electronic vehicles on beast prices. There are
number of benefits which Tesla will get after lunching the electronic cars in business world. On
the basis of discussion made by Eisler, the first benefit to Tesla is that there are number of tax
benefits which are launched by government of different nation for promoting the sales of
electronic cars, this will help Tesla in saving tax and earn more net profits. For example, UK
government removed all tariffs from the electric vehicles and make the policy for 100 % tax
deduction for next 5 years of firms operations in UK. Fastest growing market is also the reasons
which will benefited for lunching electronic cars, the demand of electronic cars are rising
worldwide because of government intervention and climate change (Vilchez and Jochem, 2020).
Customers are willing to buy those cars which help them in more satisfaction and can provide
them safe and comfortable experience with improved technology, they are ready to pay prices
according to it. So tesla have good chance to take this opportunity as they have the product
which is in demand of customer for fulfilling their needs. This will beneficial for tesla to increase
its profit and get the win-win situation. Tesla have one more benefit of electric cars where it can
explore its technology to business world which it is researching from several years and can built
its separate brand image in mind of customer. This will increase the profits of firm and will also
ensure goodwill in market.
Differentchallenges faced by Tesla while introducing electric cars at global market
place
According to the view point of Enyedi, Tesla will also face some challenges while lunching the
electronic cars in business world. The first challenge which Tesla face in lunching of their

electronic car is threat of competitors, In Automobile industry there are various firm which also
want to launch and have number of options in their products. For example, various Chinese
companies have cheap products in comparison of Tesla and they have also large market cover
with their main focus on large sales, this can be impactful for firm in getting access in Asian
market where users have low purchasing power (Pries and Wäcken, 2020). Production cost will
also become calling for firm as electronic cars needs huge investment on their plants where
manufacturing is done. This manufacturing also requires fully automated machinery which also
implements huge capital investment and operating cost. This will lead in decrease profits of firm
and huge loan burden will also arise in working of firm. Changing customer towards firm
product is also a difficult task for Tesla as various people have mind-set that petrol/diesel cars
are suitable for them so changing their mind will also a difficult task for firm which it will face
while lunching new electronic cars. There is one more difficulty which Tesla have to face in
functioning, it have to launch number of instruction manual and training programmes for
informing customer about the features and operating system which are different from petrol cars.
This will use huge amount of money and can also impact negatively on tesla profits. Global
market also consist of number of competitor who are researching on same concept and have
more efficient technology then tesla they can also impact on firm negatively by lunching more
efficient product then it and lead to failure of firm’s electronic cars (Van Woensel, 2020). This
all will impact on decision of firm for lunching electronic vehicle in global market.
C) JUSTIFICATION & CONTEXTUALIZATION
Why is the research important?
It is said that main aim behind selecting this research topic is to examine the impact of electric
cars on the global market place.Inthe present competitive marketplace, every business
organization expand their business functions in different sectors so that they can maintain
challenging position at the market. With the help of conducting a research, investigators will be
able to obtain differentelementswhich assist in concluding the whole research in a positive
manner.It has been said that themain aim of Tesla is to doa research for identifying the impact of
electric cars on international marketplace. With the help of positive outcomes, managers of the
company will be able to develop strategies and policies according to the changing situations.

This will aid them in enhancing their overall profitability and revenue at competitive
marketplace.
Why is it important to find what you are trying to find?
It become essential for everyorganization to examine the requirements ofcustomersbefore
launching any kind of new products or services at the market place. With the help of this
research, managementteamof the company will be able to identify the requirements of customers
so that they can gain positive impact from consumers at the marketplace (Michaelides, 2020). It
is very essential for the management team to conduct such research on a continuous basis so that
they will be able to find out the major necessities of customers so they can satisfy their needs in
an effective manner.
How will it build in the existing body of evidence?
Withthe help of conductingan effective research, managers of the company Tesla will be able to
identify the influence of launching electric cars in the market place. Along with this they can
develop or modify their strategies and plans according to the conclusion developed by researcher
while completing the investigation. This will assist managers in taking best and most suitable
decisions regarding the success of business organization.
Is it timely? Does it respond to an existing need? What makes it so?
It has been identified that there are various research which is conducted on a daily basis in order
to examine the current market situation before launching any sort of new venture. It is a sort of
research where manager identify whether the product satisfy customers requirements or not and
if requires any modifications then managers conduct such investigation. Such research help in
taking effective decision for accomplishing organizational goals and objectives in an appropriate
and effective manner.

D) RESEARCH METHODOLOGIES
Research methodology defineas a systematic procedure used by investigator in order to collect
authentic and accurate data and information so that they can take best decision regarding the
research project. Thissection includes different sources and methods which are going to be used
by researcher so that they can gather all the essential information and data related to a specific
topic. Under this, various techniques and methods are includes which are qualitative aswell as
quantitative research, primary & secondary data collection method, research approaches and
philosophies, sample size and many more (Willmott, 2020). All these methods are going to be
discussed in a detail manner as follows:
Research Philosophy
It isthe most crucial and essentialpartof research methodology, which is generallydivided
in two sections whichincludesinterpretivisim& positivism research philosophy. In context of
present investigation, it is said that researcher adopt positivism kind of research philosophy.
Reason behind adoptingthis research philosophy help in collecting authentic and reliable
informationforwhich primary methodof data collection areused which consist of questionnaire
approach.Whereas, iftalking about interpretivisimresearchphilosophy, this method is not
adoptedby the researcher as it does not suits the research format (Ryder andet. Al. 2020). It has
also been identified that this is a type of research philosophy which requireshuge resources
aswell as consumes lot of time which delays the outcome of research. Therefore, positivism
approach is used by researcher to complete the whole investigation within given time period.
Research Approach
It is said that two mainapproachesare there which is used by researcherin order to conduct
a research in an effective and efficient manner. These two research approaches includes
inductive aswell as deductive in which deductive approach is used by the researcher in present
investigation. Itis one of the most suitable and appropriateapproach as it assist in conducting
investigation on different interesting topics so that valid outcome will be produced. This will
assist researcher in order to gather all the information in an effective manner .
Methodology and Research Design

Methodology: For gathering information and data, it has been concluded that there are
two main kinds of research methodology whichassist in gathering informationand data so that the
authentic conclusion can be drawn by researchers in an effective manner. These two methods
consists of qualitative aswell as quantitative methods where both assist investigators for
conducting a research in an appropriate manner. In the present research context, investigator
adopt quantitative researchmethod for gathering valid and accurate information related to a
specific topic.For this, researcher adopt questionnaire method for gathering quantitative dataand
information in a descriptive manner (Kilrea and McCaslin, 2020). Whereas, if talking about
qualitative method ithas been said that it is not so beneficial and useful asper the requirements of
present investigation as it requires lot of time, efforts, cost as well as resources of researchers.
Research design: It is one of the most important part of research as it helpsinvestigator
in order to examine the impact of research. In this context, three main sort of research design are
there which consist of experimental, descriptive as well as exploratory research design. In the
present research, ithas been identified that descriptive design isgoing to be adopted by the
researcher as it assist investigator in order to gather information from various sources and draw
authentic and accurate conclusion (Flick, 2020). This as a result help them in gaining better and
positive results. Whereas, experimental aswell as exploratory method in research design are not
as beneficial as descriptive design which as a result doesn’t draw any valid conclusion in an
effective manner.
Data Collection Method
Data collection defineas one of the most effective procedure of gatheringdifferent types
of information on a specific topic which will assist in answeringall the questions in an effective
manner. For collecting information on a particular topic, two main kind of methods are used by
researcher which includes primary aswell as secondary methodof data collection. Both refersto
the best methods whichis adopted by the researcher in order to collect information from different
sources. In case of primary methodof data collection, best and most suitable source is
questionnaires whichis adopted by the investigator in the present research. Thisis a tool which
helps in gathering reliable, accurate as well as valid data so that positive conclusion will be
drawn effectively. On the other hand, secondary methodhelp in collecting information from
different sources which consist of books, newspaper, magazines, various online articles,

publications and many more. In this research project, both primary and secondary research
method are adopted by the investigator for gathering information to conclude the whole research
in an effective manner.
Data Analysis
It is said that in order examine or analyze all the collected information in an effective
manner, researcher adopt thematic analysis method. It refers to an analytical tool which
helpsinidentifying appropriate aswell as valid information and data. Under this, varioussort of
themes aregoing to be developed which will help investigator to easily examinethe information.
Therefore, it has been concluded that thematic analysis is essential in order to identify
quantitative data in an accurate as well as systematic manner (Staron, 2020).
Ethics
Itis oneof the most essential element of study as every research needs to be based on
various principles of ethics which consist of carefulness, objectivity, confidentiality, norms
legality, respect for privacy, honesty & soon. All these are the necessary principles of
investigationwhich will assist researchers in order to performevery activity of investigation in an
ethical manner. Withthe assistance of following ethics while conducting the research it will
produce positive and accurate outcome (Hesse-Biber, 2020).
Sampling
It has been identified that there are mainly two methods of sampling whichare probability
& non-probability. Asper the opinion of researchers, it is beneficial to adopt probability sampling
method. Reasonbehind this isthatthis is a technique which assist researchers in order to choose
sample size on the basis of random sampling. Inthe present research, investigator select 30
respondents with the help of probability sampling method. As this technique assist in savings
cost as well as time of investigator. Whereas non-probability samplingis another technique
whichis time consuming and requires lot of resources and funds, therefore it is not adopted by
the investigator.
Limitations

In order to conduct any kind of research, ithas been observed that there are different sort
of limitations which isfaced by investigator while gathering information & data. It consists of
variousissues such as lack of finance, resource, skills, insufficient time, lack of team work and
coordination and many more (Monrouxe and Ajjawi, 2020.). Allthese limitations createnegative
impact on thewhole researcher outcomeand reduce the positive aspects which is gained by
conducting the investigation.

REFERENCES
Books & Journals
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potential impact on electric grid. Energy Policy, 137, p.111103.
Heitel, S.,andet al. 2020. Global electric car market deployment considering endogenous battery
price development. In Technological Learning in the Transition to a Low-Carbon Energy
System (pp. 281-305). Academic Press.
Vilchez, J.J.G. and Jochem, P., 2020. Powertrain technologies and their impact on greenhouse
gas emissions in key car markets. Transportation Research Part D: Transport and
Environment, 80, p.102214.
Pries, L. and Wäcken, N., 2020. The 2015 Volkswagen ‘Diesel-Gate’and Its Impact on German
Carmakers. In New Frontiers of the Automobile Industry (pp. 89-111). Palgrave Macmillan,
Cham.
Van Woensel, L., 2020. Systems Thinking and Assessing Cross-Policy Impacts. In A Bias Radar
for Responsible Policy-Making (pp. 69-84). Palgrave Pivot, Cham.
Michaelides, E.E., 2020. Thermodynamics and energy usage of electric vehicles. Energy
Conversion and Management, 203, p.112246.
Gardner, H., 2006. Changing minds: The art and science of changing our own and other peoples
minds. Harvard Business Review Press.
Eisler, M.N., 2016. A Tesla in every garage?. IEEE Spectrum, 53(2), pp.34-55.
Enyedi, S., 2018, May. Electric cars—Challenges and trends. In 2018 IEEE International Conference on
Automation, Quality and Testing, Robotics (AQTR) (pp. 1-8). IEEE.
Willmott, H., 2020. On Research Methodology. The Journal of Organization and Discourse, 1(1), pp.1-4.
Ryder, C., andet. Al. 2020. Indigenous research methodology–weaving a research
interface. International Journal of Social Research Methodology, 23(3), pp.255-267.
Kilrea, K.A. and McCaslin, M.L., 2020. Deep Heuristics: An Emergent Methodology for
Transformative, Actualizing, & Potentiating Relationships (Transformative Inquiry in Action).
Flick, U., 2020. Introducing Research Methodology: Thinking Your Way Through Your Research
Project. SAGE Publications Limited.

Staron, M., 2020. Action Research as Research Methodology in Software Engineering. In Action
Research in Software Engineering (pp. 15-36). Springer, Cham.
Hesse-Biber, S., 2020. Taking public action on private troubles: The power of hybrid
methodology mixed methods research in the public sphere. Qualitative Inquiry,
p.1077800419857755.
Monrouxe, L. and Ajjawi, R., 2020. Ethnography, methodology: striving for clarity. Medical
Education.