The logical mismatch between the automotive industry’s phenomenal growth and the obvious lack of petrol assets has been visible, posing a substantial barrier inhibiting its reasonable development. Furthermore, as the volume of cargo carried by a vehicle grows, the issue of natural contamination becomes more apparent, and the typical gas-powered vehicle is unable to resolve this clear contradiction. The development of new energy vehicles has become a global consensus to address the issues created by the automobile industry’s growth. Furthermore, as part of its public policy, China prioritizes the development of innovative energy vehicles. As a result, multi-energy, high-productivity, and unique natural energy vehicles should be able to meet future market demand. A new energy vehicle incorporates cutting-edge innovations in vehicle power control and drive, establishes advanced specialized standards, and incorporates novel advancements and constructions, and runs on unconventional vehicle fuel (or conventional vehicle fuel combined with a new vehicle power gadget). Pure electric vehicles, hybrid vehicles, power device vehicles, and solar-powered electric vehicles are the four primary kinds of new energy vehicles.
1. Research Background and Significance
1.1 Research Background
Transportation has long been a source of contention because it is a big industry that employs a huge number of people, contributes to the state’s GDP growth, and so on, while also causing considerable increases in environmental pollution levels (Zhang and Yao 2014). The development of electric vehicles (EVs) appears to have solved the problem, as the defined mode of transportation does not require the use of oil, resulting in a significant reduction in CO2 emissions.
As a result, despite the expensive cost of the vehicles and the complexity of the plans, China has embraced Tesla’s groundbreaking EV product model. One may claim that the EVs’ success was due to their use of a correct promotional approach based on Chinese culture, which would not normally be considered appropriate for an automobile and energy storage company. The organization’s system, in particular, should be based on a method similar to that used by Apple to sell iPhones. Tesla’s electric cars are nothing short of a commercial success. Despite the fact that using the environment as a selling factor for a product has become obsolete, the organization was able to not only cater to the key interest group, but also build EVs as a brand with a startling significant advantage.
1.2 Research Significance
The goal of this study is to find similarities and differences in customer behavior and dynamic cycles in other countries and China when it comes to the purchase of electric vehicles in general and the Tesla car model in particular. The investigation will be conducted in the form of a subjective context analysis. The major tool for data collection will be a writing audit and perception technique.
A number of objectives must be accomplished in order to achieve the aim represented above. To begin, it is important to understand the timeline of events and the areas of interest for Tesla’s New Electric Vehicles. The Tesla Marketing Model was analyzed a short time later to establish the similarities and variations across promotional techniques. The status of New Electric Vehicles in China will improve as a result. Finally, a demonstration of how an unfamiliar company should adapt its EVs to foreign socioeconomic conditions in general, and the Chinese market in particular, should be shown.
As a result, the model-related components that specifically influence the thickness of Tesla and NEVs in the Chinese market may be linked to the review’s key meaning. To put it another way, understanding the fundamental drivers of the organization’s improvement status and inspiration of choice interaction between Chinese clients and vehicle model designers is critical so that the organization’s future course of action is not predetermined, keeping in mind the expansion of its thickness under different conditions.
A number of subsidiary objectives should be met in addition to the primary goal mentioned before. To begin, it will be necessary to determine whether the Tesla model is feasible in the Chinese market by identifying the characteristics that support or obstruct the most common means of acquisition. As a result, the future of showing and board methods is uncertain.
As a result, it is vital to distinguish between the attitudes of Chinese citizens on the use of electric vehicles. Although a part of the population may be unaware of this due to sociological or other circumstances, there is no compelling reason to emphasize that natural growth is reviving (Jensen, Cherchi and Ortuzar 2014). As a result, it is critical to ensure that the review’s participants are naturally conscientious; if they are, advertising Tesla’s EVs should emphasize the possibility for a green and inexpensive approach to transportation interaction, with a strong emphasis on the positive environmental benefits.
Finally, in order to create contrastive options regarding marketing strategy and management approach, it is vital to recognize the specific aspects of Tesla’s Chinese market standards of conduct. As previously stated, the peculiarities of an individual’s way of life have a substantial impact on their purchase decisions. To be more specific, the concerns on which customers actually focus are dictated by their socioeconomic backgrounds; thus, the unique purpose described by British purchasers is likely to be fundamentally different from that specified by Chinese purchasers.
2. New Energy Vehicles and Its Development
2.1 New Energy Vehicles
As a result of China’s rapid economic development, a growing number of customers now have the financial wherewithal to acquire their own vehicles. As a result, flexibility and the world’s largest vehicle market have grown, but urban air pollution, ozone-depleting chemical emissions, and a rising dependency on imported oil have also grown. The Chinese government has mandated the creation of systems to assist the acceptance of Plug-in Electric Vehicles in order to combat these dangerous trends (EVs). Because owning an electric automobile is more expensive than owning a traditional internal combustion engine (ICE) vehicle, the government began generously subsidizing EV purchases in 2009. However, the government determined that paying for sponsorships was too expensive due to the big price difference and the large number of consumers.
As a result, Chinese officials expect endowments to be phased out by the end of 2020 and, on second thought, slap a tax on automakers. Simply put, the rule requires automakers to sell a certain number of battery-powered vehicles each year. Manufacturers must earn a specified number of foci on a regular basis to avoid financial fines. These foci are assigned to each EV based on a complicated calculation that considers range, energy productivity, and execution. Over time, the rules will tighten, with the goal of EVs accounting for 40% of all car sales by 2030. This decision will have a significant impact on the entire manufacturing of electric vehicles; it is possibly the most well-founded command for electric vehicles in the world, and it is being implemented in the world’s largest auto market. There will be a huge growth in the production of electric vehicles and batteries for them, lowering their global costs.
2.2 Type of New Energy Vehicles
They work by connecting an electric vehicle to a charging station and drawing energy from the structure. They store energy in batteries, which are then utilized to drive an electric motor that rotates the wheels. Electric vehicles accelerate faster than gasoline-powered vehicles, creating the impression that they are lighter to drive. An electric automobile can be charged at a charging station or at home. There are numerous charging stations located around the world to keep the shopper fully charged when traveling. It is vital to have the proper EV power tax in order to acquire the ideal home charging arrangement, which allows the user to spend less money charging and save more on their bill.
Electric vehicles are available in a wide range of configurations (EV). Pure electric vehicles are autos that run purely on electricity. Half breed electric vehicles are hybrid electric vehicles that can also run on gasoline or diesel. Plug-In Electric – A car that runs entirely on electricity and gets the majority of its power from a charging station is known as a plug-in electric vehicle. Because this type of vehicle does not use gasoline or diesel to run, it does not emit any pollutants in the same manner that conventional vehicles do.
Plug-In Hybrid – These vehicles are mostly electric, but they also have a traditional gasoline engine that allows them to run on gasoline or diesel if the battery runs out. When these cars are running on gasoline, they will cause outflows, but not when they are running on electricity. To recharge their batteries, module halves and halves can be linked to a power source.
Hybrid Electric Vehicles – These vehicles are powered largely by fuel, such as gasoline or diesel, but also feature an electric battery that is recharged through regenerative braking. You can switch between petrol and ‘EV’ mode with the push of a button. These cars must rely on petroleum or fuel for energy because they are unable to connect to a power source.
Electric vehicles have 90 percent fewer moving parts than internal combustion engine (ICE) automobiles. The components that keep an electric vehicle functioning are summarized below:
- Electric Engine/Motor – Allows the wheels to pivot. It is usually a DC/AC hybrid, however AC engines are more common.
- An inverter is a device that converts alternating current (AC) to direct current (DC) (AC)
- Drivetrain – To transmit power from the engine to the wheels, electric vehicles use a one-speed transmission.
- Batteries – Batteries are the devices that store the energy needed to power an electric vehicle. The greater the kW rating of the battery, the greater the range.
- Charging – To charge your battery, connect it to a power source or an EV charging station.
2.3 Features of New Energy Vehicles
Technical Features of New electric Vehicles.
A BEV’s three main components are an electric battery, an electric engine, and an engine regulator. Because there is no starter, exhaust, or grease structure, and in most cases, no gearbox, the design of a BEV is simpler than that of an ICEV. In some circumstances, a cooling structure is not even required. The battery requires electricity when it is linked to the power matrix via a charging device or when it is slowing down during recovery. In reaction to the heap condition, the engine regulator regulates the electric engine’s power output. The electric engine converts electrical energy to mechanical energy and then to force when used in a drivetrain. Serial BEV production has relied on focal motors until recently; however, center wheel electric motors are also practicable and would be produced on a large scale.
Modern, very efficient electric engines are made of long-lasting, appealing materials, the most common of which are Rare Earth Elements composites (REE). The electric engines utilized in BEVs, on the other hand, are REE-free. Electric engines are divided into two categories: alternating current (AC) engines and direct current (DC) engines. Electric motors come in both ac and dc versions, and they can be used with or without long-lasting magnets, depending on the application.
Foothold engines without magnets are commonly utilized in electric vehicles due to their reduced cost. Enlistment engines are a form of ac engine that lacks rare earth elements. Traditional accurately commutated DC machines, nonconcurrent machines, heap regulated coordinated machines with electrical stimulation, and exchanged hesitance engines are among the electric motors that work without the usage of REE magnets. This gives the engine industry a lot of flexibility.
It is still possible and advantageous to equip electric vehicles with lead-corrosive batteries. Lead batteries were insufficiently determined by automobiles from the 1990s Californian electric vehicle boom, despite having previously proven driving capability comparable to ICE vehicles. Tiny electric trucks, for example, are now affordable and equipped with lead batteries, which provide the finest range and performance. Similarly, lead-acid batteries are used in some electric vehicles nowadays. In order to extend future battery research and development, it would be beneficial to conserve Pb footing batteries for certain uses. If electric vehicles used for more routine jobs, such as commuting, or so-called neighborhood electric vehicles, are powered by lead-corrosive batteries rather than lithium-ion batteries, they will be significantly less expensive. In addition, the lead battery’s execution is upgraded on a regular basis.
Environmental features and Impact.
Reduced car energy use may be the most difficult goal, given the predicted substantial increase in overall portability in the future. Energy consumption is divided into two categories to examine available developments: well-to-tank (WTT) and tank-to-wheel (TW) (TTW). The term “WTT” refers to the time between the extraction of feedstock and the delivery of fuel to the vehicle tank. The appearance of the drivetrain is assessed by TTW. Both contribute to the Well-To-Wheel (WTW) system’s total productivity. The WTW evaluation allows for a comprehensive assessment of a vehicle’s overall energy and economy when fitted with a variety of drive enhancements.
Given the significance of automobiles (light duty vehicles) in overall public and private mobility, it is surprising that there are only two ICEV configuration alternatives on the market: battery electric vehicles and hydrogen-powered energy units. Vehicles with hydrogen-controlled energy units, on the other hand, are not yet available in series, despite the fact that Mercedes-Benz and Toyota have promised or delivered a modest number of FCVs. An FCV’s main advantage over a BEV is its significantly longer range and faster tank replenishment. In any case, the critical H2 filling station infrastructure is not available anywhere on the planet, not even in a few isolated filling stations in a few downtown locations, allowing for local flexibility for hydrogen-powered energy unit cars that must return to a similar filling station on a daily basis.
2.4 Development of New Energy Vehicle
Faced with rising energy and environmental challenges, a number of western industrialized nations and regions have begun to look for ways to modernize. They have started to phase out gasoline-powered cars in favor of new energy vehicles and a transition away from traditional energy vehicles. In terms of plan execution, the US encourages consumers to buy new energy cars by constructing support offices such as charging stations, instituting cost-cutting measures, and coordinating driving and departure offices. Japan, a major automaker, has made a number of investments in the development of alternative energy cars. The CEV allocation (the endowment for Clean Energy Vehicles), which was established in 1998, is the most visible of these. In response to economic conditions, Japan’s cutting-edge car renewal focus revises the appropriation rules, models, and money every year. Germany, as the world’s largest car market, has also committed to a boycott of conventional gasoline-powered vehicles starting in 2030 or later. By 2040, France, which is also a great automaker, plans to phase out all sales of gasoline-powered vehicles. It plans to achieve carbon neutrality and become a carbon-neutral country by 2050.
In terms of innovative work, the United States Advanced Battery Consortium (USABC) was created in 1991 by General Motors, Ford, and Chrysler to collaborate on the development and promotion of high-energy batteries for electric vehicles. In the United States, the Electric Power Research Foundation (ERPI) is now conducting research on high-energy batteries and electric vehicles. The Toyota Prius, the world’s first successfully manufactured crossover vehicle, must be addressed when it comes to new energy vehicles in Japan. TOYOTA’s hybrid powertrain allows the motor and engine to work together to achieve extremely low fuel consumption and pollutants. The Prius generates no pollutants when powered only by electric engines and can recover energy during braking, slowing down, and downhill driving. As a result, fuel consumption and exhaust emission indicators on electric vehicles are more sensitive to energy and temperature than on gasoline vehicles. Additionally, the car’s low fuel consumption is aided by excellent streamlined feature execution, a world-first electric variable recurrence climate control system, lightweight design of various vehicle body components, vehicle coordination, and tire determination.
3. Analysis of Tesla Marketing Model
3.1 Introduction of Tesla
Tesla is an electric vehicle manufacturer based in the United States that was formed in 2003. Martin Eberhard and Marc Tarpenning, two architects, formed this company in 2003, and its offices are in Palo Alto, California. Furthermore, in February 2006, the company backed the Tesla Series B with a $ 13 million bet (Syon, 2014). a year ago (Syon). Furthermore, production of the roadster began in 2008, and in 2009, the group raised USD 187 million and began delivering more than 147 vehicles.
Despite this, the business stopped producing roadsters in 2012 and instead focused on its second model, the Model S luxury sedan. In 2014, the company began distributing the driver assistance framework, and in 2015, it entered the energy storage market with the distribution of powerwall and powerpack current battery packs. In 2015, the company sent its third vehicle, an SUV type X, and by the end of the year, it was selling roughly 10,000 cars per quarter. In addition, the Model 3, the company’s fourth vehicle model, was released in 2017 and proved to be a more inexpensive option than the previous models (Syon, 2014). a year ago (Syon).
As a result, by the end of August 2017, the company had received over 455,000 Model 3 bookings. Furthermore, Tesla completed the construction of its own Gigafactory outside of the US in 2019, and additional Gigafactory projects are now being investigated in Berlin, Texas, and Germany. In addition, delivery of the Type Y hybrid, the company’s fifth vehicle model, commenced in 2020. Tesla also aims to sell 499,550 vehicles worldwide in 2020, with a production capacity of around 1 million electric vehicles (Syon, 2014).
3.2 Analysis of STP Marketing Strategy of Tesla
The positioning guides for Tesla and its competitors are grouped around the quality and price of the products they offer. Because of its wonderful estimating system, Tesla is almost certain to provide superior products in the business. Additionally, the advise includes a few other Tesla competitors, such as BMW, Volkswagen, and NIO, all of whom are known for supplying high-quality items at exorbitant prices for those on the hunt.
Tesla Motors has a unique market position since it offers both automobiles and innovation. It has established a name as a manufacturer and supplier of high-quality electric game cars in the market. Tesla’s market position as an electric vehicle pioneer was cemented by high-priced deliveries such as the Tesla Roadster, Model S, and Model X.
Tesla could offer a wide range of vehicle types, including inexpensive family automobiles that help the world move toward a more environmentally friendly, solar-powered future. Last week’s Model 3 introduction achieved this goal by presenting them to a mass market segment.
Outstanding marketing and process excellence are both about making decisions that shape and sustain a set of competencies that allow a company to beat its competitors with a certain segment of the market .
Tesla joined the automotive sector with a high-priced, top-of-the-line model aimed at buyers who could afford exquisite, eco-friendly cars with first-of-its-kind technology that offered an extra level of comfort.
Tesla’s environmentally friendly and luxury vehicle models are primarily targeted at high-income earners and environmentally aware buyers. Furthermore, because to the higher pricing charged for various vehicle types, Tesla products are seen as being unreasonably expensive for the average consumer. The Tesla Model 3 is aimed at middle-class customers, regardless of price. Tesla’s Model S and X, which also have seven seats, are also aimed toward families.
Overall, it was critical for Tesla Motors to broaden their target market in order to appeal to a wider range of buyers in order to maintain their current and future growth. With the Model 3, the company was able to expand into a larger, more competitive market as product and customer acceptance grew.
Marketing Mix using 4P’s analysis on Tesla
Tesla is known for its electric cars, with the Model S, Model X, and Model 3 being the company’s three main models. Furthermore, each of the three car variants is fitted with a powerful powertrain capable of reaching 60 mph in under three seconds. Prior to the release of the three car models, the company released a game vehicle called the roadster. Tesla’s product portfolio is now expanding to include batteries, solar-powered chargers, and electric car components. In addition, the company’s Shanghai processing unit has began producing the Model Y. Tesla also produces a number of energy designs, including the Powerwall, Powerpack, and Solar Rooftop, to help homeowners and businesses navigate the energy age and capacity capacities. Tesla also produces a large number of batteries in order to reach its production targets(Tesla,2021).
In view of the high costs associated with creative activity, Tesla Inc. has devised a superior assessment technique. Tesla’s prices, on the other hand, remain cheaper than BMW’s. For example, the Model S starts at $79,990, while the Model X starts at $89,990. 2021) (Koses). The BMW i8, on the other hand, costs USD 144395.
The primary goal of the company is to hasten the development of electric vehicles in order to ensure their viability. High-evaluation arrangements, on the other hand, will obstruct the organization’s capacity to realize its Vision and Mission. As a result, the company is looking at more affordable vehicle models, such as the Model 3, to ensure that EVs are readily available to customers. Additionally, the organization’s model 3 starts at $35,000 and goes up from there. Furthermore, the regular range of Tesla’s Model Y will start at USD 41990, while the long-range variant will start at USD 49990. 2021) (Koses). As a result, the company is shifting from premium-based estimating systems to value-based estimating procedures in order to meet its goal of being the world’s largest car manufacturer in the twenty-first century and double electric vehicle sales.
Tesla is a California-based company that operates on a global scale. In 2019, the organization established its Gigafactory in China, which is one of the firm’s key business sectors. The distribution network of this corporation also comprises facilities that serve Asian business sectors, Europe, Dubai, South Korea, Australia, and North America. Tesla has also established a direct-to-customer sales model, with the electric vehicle being sold directly to customers through Tesla’s storefronts and administration centers. The organization’s administration stations also provide evaluation and other services. However, new Giga processing units are being built in Berlin, Germany, and Houston, Texas.
Tesla has also invested in cutting-edge development processes in order to maintain a competitive advantage. Tesla has created a media distribution and advertising strategy in order to promote a positive brand image and raise brand recognition (Manecuta, 2021). Tesla has also established a comprehensive web-based media promotion strategy to take advantage of web-based media advertising strategies. Additionally, Tesla is mentioned on the overcharging stations positioned along expressways and shopping districts as part of the organization’s advertising strategy.
3.3 Tesla’s Marketing Strategy For Chinese Market.
When developing an effective China market sector, market participants must examine and restructure their products in order to capitalize on the potential benefits of new developments. This is how Tesla drove the electric vehicle. Tesla capitalized on new technological breakthroughs by developing new correlated resources. On the plus side, they established sound market administration while also creating and satisfying a desire among financial backers and clients for solutions that are reachable, responsive, and easy to use.
Tesla had three options for breaking into the Chinese market. To begin, it must increase its market share in the world’s largest market for electric vehicles. Furthermore, to avoid China’s demand that international manufacturers form joint ventures with domestic automakers. Third, to ensure that its proprietary technology is seamlessly incorporated into the company’s growing electric vehicle fleet. The demonstration of Tesla’s entry into China was a turning point in the company’s history. Tesla changed the course of history when it became the first foreign automobile manufacturing facility in China to be allowed to operate totally autonomously while keeping 100% ownership. Because China’s Foreign Investment Law was recently revised, Tesla does not need to be concerned about “restricted innovation (IP) moves” of its licenses. Major automakers, including Mercedes-Benz and other rivals, have been discussing this notion for some time.
China is an important market for the automobile industry, especially for electric automobiles. Tesla’s second-largest market is China, where the automaker’s objective is to sell a big number of electric vehicles. The advantages of expanding into China are clear, and they are consistent with Tesla’s strategy.
China, for example, is an ideal location for production restraint due to its large client base, stable central monetary framework, modern current manufacturing chain, and lithium-ion33 battery output limit. Furthermore, China’s long-term dominance in the global market for earth metals, as well as advances in hardware assembly, both of which are required for the manufacture of the three critical components of electric vehicles – batteries, electric engines, and electric controllers – make it an appealing target for Tesla.
Tesla Due to the completion of its Gigafactory in Shanghai in late 2019, China will be completely filled in 2020 and beyond. This is beneficial to the company in two ways. To begin with, because manufacturing in China avoids import duties on finished automobiles, as well as the fact that Tesla’s privately developed vehicles are eligible for government assistance. Because China is a key provider of automotive components to the global market and a hub for electric portability and new lattices, it has been a desirable location for Tesla.
The development of batteries and charging systems is widely acknowledged as being important to the economic success of electric vehicles in the future. The low range of electric cars is the most significant factor impacting leases. As a result, many consumers have avoided going out because they are afraid of running out of gas. The battery, which is at the heart of electric vehicle innovation, is the most important barrier to overcome in the development of electric vehicles.
In order to overcome this issue, Tesla’s value chain capture covers the manufacturing of battery packs. Tesla attempted to overcome these difficulties from the beginning by combining ordinary batteries into a huge, constant, and remarkable limit battery pack. Tesla relied on a plethora of efficiently manufactured lithium batteries built for personal computers, which have a well-developed supply chain, are inexpensive, and of constant quality, rather than constructing a dedicated huge battery. Given Tesla’s supremacy in long-distance driving, this was favorable.
Because of the government’s interest in electric vehicles, certain Tesla models are less expensive in China. In 2020, Tesla, for example, reduced the price of a Chinese-made Model 3 by by 8%. The price was formerly 271,500 yuan, but it has now been reduced to 249,900 yuan.
The bulk of shops are misaligned when it comes to online-only offerings, but Tesla has done it effectively. This business model produces fixed assessing as a result. This means that the vehicle’s pricing remains consistent no matter where you buy it within the Tesla organization. When you have achieved your goal of valuing an EV at a specific price, you can take use of online bargaining options. This sets Tesla apart from the competition, as other automakers would have to reach a point where people value the brand in order to compete. This value and delivery strategy imbues them with Apple’s quality and feel.
Although Tesla is not a Chinese company, its Shanghai Gigafactory provides it with a huge “distinctive advantage” in the electric vehicle market, as it competes with established manufacturers to provide top-tier battery-powered cars to Chinese consumers. Tesla claimed that running the Gigafactory in China was roughly 65 percent cheaper than running its Model 3 production facility in the United States, and that the office was capable of creating entire cars from body to paint to general assembly.
China is by far the largest market for mid-size premium vehicles. As a result of the Model 3’s price being equivalent to gas-powered medium-sized vehicles, Tesla forecasts that China will be the Model 3’s primary market (even before gas investment funds and other advantages). As a result, Tesla has expressed a willingness to ramp up production and capitalize on the lucrative Chinese market with its Model 3 and Model Y automobiles. The primary goal of the Gigafactory’s construction was to increase production volume in order to reduce costs and take advantage of economies of scale. Regardless, in order for this to operate, the number of agreements must dramatically increase in order for such a system to be valid.
Tesla’s business model differs from those of other traditional manufacturers in that it controls the entire production process, from assembly to distribution. This strategy is guided by the constant goal of lowering manufacturing and sales costs, hence ensuring the company’s profitability. The Model X and Model 3 are, unlike earlier versions, aimed at the mass market for electric vehicles. Tesla’s retail network executive strategy is based on a lengthy growth process that includes shop formation, inventory management, and appropriation.
Due to the fact that it creates whole new types of automobiles and employs an entirely new manufacturing technique, Tesla has near-unlimited influence over the current value chain. Along these lines, Tesla has positioned itself as a significant disruptor in the Chinese automotive industry.
Tesla’s strategy applies to both retail and transportation. That is, it is the sole owner of all of its vendors and retail sites, as well as car repair and maintenance. Traditional OEMs, on the other hand, have a multi-tiered distribution system that includes both single- and multi-brand vendors. Tesla chose to market its products online in direct contrast to this well-established framework. Making use of the ostensibly direct deals structure method. Tesla’s rapid deals strategy differs greatly from the traditional concept of a diverse showroom. As a result, the organization has complete control over not just the client experience, but also the channel contact points and information, which could lead to expected benefits for new product development.
Tesla may be able to improve the vehicle’s individual flexibility by focusing on customer service. Humans may evolve “a definite driving machine” into a consciousness-enhancing, high-contact living and working style. By never directly testing occupants on their large-scale business of mass manufacturing, Tesla may end up being an instance of disruptive disruption, paving the door for other competitors.
In terms of energy frameworks, Tesla recognized the necessity of self-sufficiency. The self-administration standard became critical in resolving the problem of charging and distributing power at this point. To address the aforementioned issue, Tesla is now building a new energy supply ecosystem in China, which will comprise self-contained superstations and charging stations.
Tesla has enhanced the perceived worth of its goods as a result of the competitive nature of the automotive market. The organization assists clients in making purchasing selections and decreases the exchange costs connected with EV purchases by delivering value-added administrations through a global network of shops, administration centers, and Superchargers. By developing unique central skills in powertrain design and energy storage, Tesla, on the other hand, was able to price its item higher than expected. Finally, Tesla can extend the life of its vehicles through over-the-air software updates, increasing their resale value.
In general, Tesla may be described as a value-driven company. The organization’s objective was to constantly incorporate cutting-edge innovation into its products, resulting in purchasers paying a premium for the company’s products.
Excursions, which are extended travels over picturesque detours aimed at further developing Tesla’s vehicles and showing the convenience of the Supercharger Network, have been held by the company. The growth of educational events emphasizing Tesla’s vehicles and components shows that the company’s dynamic showcasing systems in China are also quite good. These sections lay out the legal requirements for using Autopilot, as well as its benefits and drawbacks, and the driver’s obligations when using the framework.
The ideal strategy for combatting fraud is one that provides correct data on a regular basis. It is preferable to support a story that is objectively true over one that is emotionally upsetting. Contrary to Elon Musk’s remarks at the Annual Shareholder Meeting, it appears that Tesla now has a very effective method that may solve, at least partially, the misunderstandings and falsehoods that surround the company in the United States. Without a doubt, Tesla presently receives unrestricted support from the Chinese government, and while the United States is a far more difficult market than China, these promotional activities may be worthwhile given the stakes.
4. Marketing Analysis of New Energy Vehicles
4.1 Analysis of the Development Status of New Energy Vehicles in China
In recent years, reduced sales of gasoline-powered vehicles have become a global trend. Since April 1, 2018, China has assigned a climate positive and negative focus to conventional energy cars, while new energy vehicles have been assigned a climate positive and negative focus beginning of January 1, 2019. New energy vehicles have become an inescapable hot trend in recent years as a result of the two-point strategy and appropriation technique. In 2018, China produced and sold 1.27 million and 1.256 million new energy cars, with pure electric vehicle transactions completely dominating the market and module crossover and power device vehicles seeing significant increase (Yu Guojun, Shen Yijia, 2019).
More organizations have entered the fray as the new energy electric car market continues to grow, and they now confront the problem of profitably segmenting the market. With funding for alternative fuel vehicles continuing to dwindle, innovation must be updated to help automakers improve the seriousness of their goods. The electric car sector, which was previously entirely dictated by planning, will finally be driven by the market (Yu Guojun, Shen Yijia, 2019). Appropriations have resulted in a rise in new energy vehicle sales from 0.36 million in 2015 to 126 million in 2018. In 2019, the trades are expected to be worth between $160 and $170 million. Furthermore, sales of new energy vehicles will approach 200 million by 2020, representing a 40% annual growth rate for the industry. Shen Yijia, Yu Guojun, Yu Guojun, Yu Guojun, Yu Guojun, Yu Guojun, Yu Guojun,
Since late 2018, Chinese new energy vehicle production has dropped dramatically, peaking in January 2019 and then dropping again. From June 2018 to June 2019, China’s New Energy Vehicle Production and Growth Trends From a creation aspect, the outcome of China’s new energy electric car sector has clearly exceeded the business volume. What is remarkable, rather than agreements, is the completion of the flow of new energy electric automobiles such as those produced by Audi, BMW, Volkswagen, and Pentium. In China, for example, Audi, BMW, Volkswagen, and Pentium sold over 200,000 new energy electric vehicles in 2018. A total of 215,000 new energy electric vehicles were produced. It has a negative impact on the new energy electric vehicle sector’s growth. The number of companies working in China’s new energy electric car sector is growing at the time. Apart from Tesla, Weilai, Xiaopeng, and other new energy vehicle producers, big automakers like Audi, BMW, Volkswagen, Pentium, and others have started to deliver new energy electric vehicles.In the new energy electric vehicle business, competition is fierce right now. China’s new energy electric car market has been in an oligopoly phase since the beginning of 2018, with massive amounts of market-restricting infrastructure being installed.
4.2 Analysis of Marketing Mode of New Energy Vehicles in China
Chinese customers view EVs differently than Europeans, who place a higher value on their environmental friendliness. Chinese customers, contrary to popular belief, are more swayed by EVs’ creative invention, or’vehicle smartening.’ Furthermore, assuming price parity with conventional vehicles is achieved within the next five years, this trend has the potential to irreversibly disrupt the market for electric vehicles.
The debate over when autonomous vehicles will become commonplace is never-ending, and the issue remains unsettled. As a result of innovation, driver employment has already begun to decline, and this trend is expected to continue. As a vital component, intelligent driving frameworks are fast gaining traction. With the installation of infotainment frameworks, the interior is frequently referred to as a “lodge.”
Advanced driver-assist frameworks (ADAS), which let drivers to exit their vehicles safely, are a particularly enticing feature. To identify and compensate for local impediments or driving faults, ADAS use technological technologies such as sensors and cameras. By slowing the car down in the presence of another vehicle, for example, the framework improves traveler and roadway security. Different sensors track the driver’s eye movements to assess whether or not they are likely to fall asleep.
Several lesser-known companies, such as Huizhou Desay Automotive and Ningbo Joyson Electronics, have developed similar frameworks. Both offer ADAS frameworks as well as a variety of other features, some of which are also compatible with traditional ignition motors. The phrase “smartization” refers to the various tasks that drivers do. Variable Driving Beam headlights, such as those made by Changzhou Xingyu Automotive Lighting Systems, provide much more illumination while emitting significantly less glare for approaching vehicles. Another company that creates unique lighting frameworks is Keboda, which makes front lamp control for LEDs. Furthermore, extremely advanced semiconductors, or microcomputers, are surely used in a significant fraction of the devices in these automobiles.
While conventional vehicles are attempting to catch up, they are constrained by certain obstacles, and electric vehicles are expected to maintain their lead in vehicle smartening. Smart driving technology, we anticipate, will become a big differentiator for EVs as value seriousness rises, improving their total attractiveness.
The development of electric vehicles is in line with greater environmental concerns. The Chinese government supports electric vehicles for several reasons: they reduce China’s reliance on imported oil, they reduce urban air pollution and help the country reduce fossil fuel by-products, and they aid in the development of a top-tier, innovation-driven modern biological system that supports occupations and commodities.
Electric vehicles (EVs) played a critical role in helping the government meet its environmental goals by promoting alternative modes of transportation. As a result, despite some recent overstated media and market values, we are sure that the electric vehicle firm will remain steady for a long time.
4.3 Analysis of Marketing Environment of New Energy Vehicles in China
A severe issue of overcapacity has occurred in the growth of China’s cutting-edge new energy electric vehicle industry as a result of greater competition, and the issue of overcapacity has proven difficult to resolve logically for some time. Tesla, on the other hand, has yet to perform a complete investigation of the business features and competition of China’s new energy electric vehicles, and hence lacks a thorough understanding of the Chinese electric vehicle market. This has a direct impact on Tesla’s competitive advantage and jeopardizes the company’s plans to expand in the Chinese electric vehicle market.
In terms of marketing strategy, Tesla’s new energy electric vehicle has a general lack of awareness of Chinese neighborhood culture, as well as a limited comprehension of Chinese mass consumer items. In order to improve sales action, it has not taken into consideration the item’s multiple life stages. For example, Tesla failed to conduct multiple statistical surveying activities in the Chinese market, resulting in an inability to fully appreciate the market’s scenario for new energy electric vehicles. In Chinese advertising, there is a lack of awareness of target clients and client group needs.
5. The Inspiration of Tesla for China’s New Energy Vehicle Industry
5.1 The Inspiration of Tesla Marketing Model for China’s New Energy Vehicle I
Expanding into the Chinese market, however, poses a number of challenges for future growth, as the target consumer lacks the same level of environmental awareness as their European and American counterparts. As a result, an itemized analysis of the clients’ behavioral standards is essential for establishing extra evidence of the company’s actions in the Chinese market (Xue, You, Xiang, and Liu 2016).
However, it is worth emphasizing that the Chinese market is supplied by clients who have a separate culture, which explains their independence. Given the target market’s link with the Asian environment, it may be seen as the polar opposite of what Tesla executives are used to working with, particularly the demographics of the United States and Europe. Certainly, a brief examination of the distinguished populace reveals that they favor products that allow them to work on their financial well-being:’expensive, name brands function as images and illustrate the social division between various Chinese groups’ (Wei and Yu 2012, p. 41).
As a result, the emphasis on opulence as a required trait of a wealthy individual has become ingrained in Chinese market culture. Extravagance object acquisition does, in fact, lead to the formation of a more grounded cultural position and improved public regard: In China, status demands are common in advertisements for luxury goods, particularly automobiles, which convey visions of progress, affluence, and social achievement (Wei and Yu 2012).
Based on the evidence shown above, Tesla’s current technique looks to be quite authentic. The firm’s marketing of its item as a luxury item, in particular, is consistent with the concept of customer loyalty, which is crucial to the Chinese market’s growth (Webb 2012). As previously said, Chinese consumers are enamored with owning fancy items that assist them reach better and more notable economic health. According to them, this is accomplished by purchasing a car that is both expensive and wealthy in the eyes of the major interest group (Undercoffler 2016).
Without a doubt, a closer look at Tesla’s plan to attract Chinese consumers and achieve a competitive advantage in the market will disclose the most efficient and equitable use of its assets. One may argue that the Tesla board’s attitude is responsible for the company’s success. Tesla’s constancy in delivering electric vehicles to Chinese customers might be viewed as both a strength and a drawback. One could argue that by ignoring the social interests of Chinese customers, EVs risk failing to boost Chinese buyers’ enthusiasm for the products.
The incapacity to captivate the famous audience poses a severe risk without a doubt. Until and unless the particular qualities of Chinese customers are discovered and addressed, Tesla is unlikely to acquire and retain a solid foothold in the desired market. A more critical assessment of Tesla’s current achievements in both the financial and political contexts in China focuses on how the company’s selling point might be communicated to Chinese consumers.
5.2 The Inspiration of Tesla Brand Positioning for China’s New Energy Vehicle I
A closer look at Tesla’s branding reveals that the firm employs a variety of concepts to propel its product to the forefront of the current electric car sector. Tesla emphasizes the importance of its creative arrangements first and foremost, describing the unique measures it takes to accommodate the goals and desires of the entire interest group.
Without a certain, while the organization deserves a lot of credit, one must admit that the organization’s responses are certain and straightforward. However, the organization’s acknowledgement of advancements in actual autos and unique battery arrangements should be highlighted, since both merit attention and should be viewed as separate triumphs.
Furthermore, the company places a great priority on innovations related to its value structure. Overall, Tesla’s development plan comprises not only a comprehensive overhaul and refinement of the brand’s product, but also a reasonable emphasis on the relationship between the company’s qualities and the quality of the end product. As a result, Tesla must figure out how to maintain high levels of customer loyalty while still allowing for the unexpected.
The emphasis on Tesla’s extravagance should be enhanced after establishing the quality of the product provided to the company’s Chinese clients and establishing Tesla’s presence in the target market. By highlighting outstanding quality, remarkable speed, eco-friendly design, and more, the cycle of differentiation may be completed, and by selecting from the established highlights the types of innovative innovations that a NEV can implement into its unique strategy (Han, Han and Aki 2014).
Tesla is a marketing marvel because it figured out how to charge an exorbitant price for a product that has a plethora of cheaper competitors. One may argue that the product’s daring concept, particularly how the Model S and other Tesla expressions handle the issue of environmentally friendly transportation, is the secret to the company’s amazing success in Europe (Nelson 2015).
However, a closer look reveals that there is more to Tesla’s seemingly inexplicable success than meets the eye. The association did a fantastic job of explaining the essence of the contemporary electric vehicle concept and the battery, which appears to have become the association’s brand name (Cheong, Song and Hu 2016).
It is possible to claim that Tesla’s business model is not unique. To be sure, the company’s use of a strategy pioneered by Apple many years ago has been extensively publicized: ‘Tesla’s plan replicates an advertising procedure consistent with Apple’s advertising method for dealing with creative innovations’ (Mangram 2012, p. 304). However, it should be noted that the preceding assumption is quite broad and hence does not apply solely to Apple and its corporate marketing structure.
Tesla demonstrates that the quality of its electric vehicles is superior to the norm by prioritizing wealthy customers. As a result, the target audience receives the best possible impression (Arora, Shen, and Kapoor 2016).
5.3 The Inspiration of Tesla Core Technology for China’s New Energy Vehicle Industry
However, assuming that the business’s promotion model would remain unchanged once EVs gained acceptance in the Chinese market would be a significant leap of faith. The organization’s innovations might be regarded of as a new way of looking at Tesla’s goods. Finally, the firm has retained its innovative ways.
Tesla’s focus, according to a new report, is on the three previously indicated locations. Additionally, the structure of development has been successfully transformed into a profitable method of offering in numerous commercial industries (Rechtin 2012). The presentation of the automobile, in particular, improves in lockstep with the presentation of new mechanical ideas, and the organization’s future selling system’s focus on the development of connective administrations for EVs should be noted as one of the critical components. Without a doubt, according to the most recent information on the organization’s show, both the quality of autos and the administrations associated with them have improved significantly:
The Tesla Roadster, introduced in 2008, changed people’s perceptions of electric vehicles by offering an opulently styled games vehicle with a 0-100km/h sprint time of 3.7 seconds and a standard range of 393 kilometers on a single charge. Tesla engine then provided the Tesla Model S in 2012, with a sound approach for a superior family vehicle. It is divided into several subtypes, with speed increase execution times ranging from 3.2 to 5.9 seconds for a 0-100km/h speed increase and standard reach times ranging from 335 to 426 kilometers for a one-time frame charge (Chen and Perz 2015).
Additionally, one should emphasize how Tesla provides a range of solutions for its consumers to manage the battery structure. As a result, EV owners can tailor their vehicles to their own requirements. As a result, Tesla’s existing system is configured to adapt its administrations to the largest possible segment of the target populace. This approach is highly acceptable due to the adaptability it gives.
6. Suggestions on Improving the Marketing Strategy of China’s New Energy Vehicle Industry
6.1 To Accelerate the Development of Relevant Industrial Chains
China’s NEV industry is still in its infancy. The scale of company is uneven at various points throughout the value chain. Industrialization of NEV is contingent upon the evolution of appropriate cutting-edge technologies and the establishment of a fully formed industry chain comprised of upstream enterprises (for example, in the power cell sector) and downstream supporting frameworks (for example charging station and hydrogenation station). China falls considerably behind other countries such as Germany, the United States, and Japan in terms of developing enabling frameworks. Charging stations are critical to the advancement of EVs and PHEVs. Due to widespread suspicion and misunderstanding regarding force matrix enhancement, only a few charging stations are provided in a few test towns. Additionally, there is a dearth of effective industry regulations, particularly for NEV components and components. This is a big impediment to the NEV business expanding its scope and later supporting deals.
Previously, China’s NEV sector concentrated mostly on the development of critical components, car manufacturing, and automotive advertising. It might be argued that a planned approach should be taken to developing and upgrading a modern ecosystem that encompasses all NEV-related businesses involved in the manufacture, promotion, and use of NEVs from upstream to downstream. Collaborations in the automotive, energy, transportation, and data and correspondence industries are only the tip of the iceberg for the projected new biological system. Two environmental hubs are to be strengthened: (1) vehicle working framework research and development; and (2) battery value chains. Additionally, there may be a greater level of intelligent innovation in NEV planning, development, and other post-sales activities, all while assuring innovation reliability and product quality. It is especially encouraged for vehicle coordination, component manufacturing, web, and electronic data and communication corporations to build alliances to collaborate on the security, dependability, and accommodation of vehicle operating frameworks. Additionally, it necessitates the establishment of an effective battery reusing framework through the implementation of a lengthy manufacturer accountability strategy, the development of a battery discernibility board stage, and the advancement of advances and industry organization for the reuse, reuse, and removal of spent batteries from NEVs.
To aid in the development of the aforementioned modern environment, thorough guidance on how to integrate the NEV business with three important sectors should be provided: energy, transportation, and data and correspondence enterprises. In terms of the energy business, the emphasis should be on increasing the use of renewable energy-generated electricity for NEV charging. At the neighborhood level, it is recommended to implement vehicle-to-matrix test cases that enable NEVs and the network to communicate in order to manage peak loads and reduce charging costs. In terms of collaboration with the transportation sector, the construction of a smart traffic light framework to provide more accessible trip administrations, which will incorporate NEV manufacturers and portability administration organizations. Additionally, it encourages the use of additional NEVs in open armadas, including municipal transit, taxis, time-sharing rentals, off-street places, and coordinating administrations, most notably for downtown ports. Concerning integration with data and correspondences businesses, guidelines should be established on the basis of staggered information gathering, registration, and handling based on information about drivers, pedestrians, vehicles, streets, and cloud data in order to provide greater versatility to traffic signal and metropolitan administration administrations. Meanwhile, the employment of data and correspondence innovations is advised to assist in the development of a secure organization and to safeguard data on cars, information sent, and data in the cloud. Without a doubt, integration of the aforementioned enterprises will entail the adoption of new and expansive legislation. This recognizes the importance of and needs the establishment of a comparison standard framework for information sharing across domains and work on equipment and programming compatibility. The focus is particularly on activities to deploy NEV experimental running programs that are combined with components of smart city construction.
6.2 To enhance Brand Awareness
When developing a marketing strategy aimed at convincing the target audience that the organization’s products are luxurious, Tesla advertisers should keep in mind that the review results additionally demonstrated an unmistakable awareness of extravagance among Chinese buyers. In general, the firm’s marketing strategy should be centered on the nature of NEVs. This will serve as the foundation for its further success in the distinguished climate.
6.3 To Optimize Product Strategy
Tesla’s normal expense is 132,000 yuan, and its annual sales volume exceeds 250,000 automobiles, according to the perspective of interest bend flexibility, normal expense, annual sales volume, and important valuing (value war). Behind the scenes, Chinese clients have a greater desire in Tesla automobiles, which means that pricing at 250,000 yuan may ensure net revenues through increased value seriousness. Tesla can use a mix valuing strategy in its turn of events to address the issue of overcapacity and entirely satisfy the market requirement of Chinese customers. For instance, Tesla’s electric vehicles’ value positioning can begin with interest-based estimating methods and cost-based evaluating approaches, and then adjust based on its own comprehensive investigation electric vehicle brand prices and market requirements in China. It is suggested that the Model 3 be priced at 250,000 yuan to accurately reflect the value positioning of Tesla’s rivals in a similar industry, giving Tesla a significant advantage in the Chinese electric car market. Tesla electric vehicles must unmistakably identify their own advancement course and develop logical value positioning plans and strategies on the basis of the abundance limit of contemporary new energy electric automobiles.
Tesla should focus on quality management cycles in order to improve the overall quality of its products and to avert production delays. Additionally, the firm should conduct persuasive quality control evaluation cycles to identify and correct quality flaws and other imperfections prior to delivering the vehicle to the client.
7. Conclusion and Prospect.
This inquiry continues the detailed correlation and analysis of the components of the new energy vehicle advancement model targeted at the Chinese market, with the following objective:
- A biological habitat that is unique. As another cutting-edge industry, the improvement of its innovation, particularly with the battery, engine, and electric control as the delegate of the center’s innovation advancement, plays a greater duty in advancing the total business. Progress is the major objective of producing new energy vehicles, and a suitable biological milieu influences the growth of endeavors. Utilizing the benefits of global linked ventures assets in exchange for specialist services, and effectively supporting colleges, research organizations, and other research foundations in developing a conducive environment for improvement and advancement.
- Positioning the market. Vehicles powered by alternative energy sources are currently being developed. Due to the public’s lack of awareness of alternative fuel vehicles and the vehicle’s proclivity, energy acquisition tactics are required for a brief period of time. As a result, it is permissible for the second to take some time off in the public transportation sector, gradually opening the market. Following that, in accordance with the target populace’s desire to engage in appropriate value competition, subsequent individuals have accurate information about alternative energy vehicles.
- Innovation technique. Tesla’s rebellious development has repercussions, and Toyota might profit mutually from a strong engagement strategy. Regardless, the prerequisites for innovation in new energy vehicles and conventional vehicles are distinct. Automobile ventures may accomplish long-term expansion only with sufficient expertise in developing new energy vehicles. As a result, the Chinese market should pursue a more sensible strategy in light of the current state of new energy vehicle development.
- Business strategy. The development of a strategy will pave the way for the new energy automotive sector’s growth. Mature strategy should be structured by the lengthy running between all segments of the new energy vehicle manufacturing chain and between markets. The foundation for new energy must be divorced from government assistance, the growth of center innovation in new energy vehicles cannot be divorced from venture activity, and the business model cannot be divorced from venture activity. As a result, we should design an administration-led strategy for new energy vehicle development centered on the creative work of ventures and divisional endeavors.
In 2020, total vehicle sales in China decreased, but NEV sales climbed dramatically. Currently, Chinese purchasers are looking for a NEV. Almost all of the wealthiest people will invest in a NEV. Regardless of the current circumstances, some buyers are concerned about the range of NEVs, accessibility to charging stations, technological advancements, and security. For example, in 2021, the percentage of prospective buyers who indicate their base driving range is substantially higher than in 2019. Customers are also concerned about the value of NEVs in the future, as advances in battery technology and other areas may render older vehicles outdated quickly. Customers are becoming more optimistic about NEV’s future value. In any case, as NEV innovation progresses, the perceived residual value of NEVs and internal combustion engines (ICE) vehicles may rise.
For Chinese customers, vehicle innovations are crucial, but businesses must adapt. Advanced Driver Assistance Systems (ADAS), car networks, and the ability to drive autonomously are all valued by purchasers, with a large number expressing interest in these technologies. In any case, people’s willingness to pay for these experiences has changed. Crash prevention, variable trip control, and route maintenance support, for example, were the most popular ADAS services.
NEVs must champion consumer-driven standards and implement them across the value chain, from products to customer service to omnichannel marketing, to gain a firm foothold in China’s booming vehicle sector. They should also devise creative plans of action to secure their success.
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