Electric vehicles business models: an integrative framework for adoption of electric mobility

Abstract

The study presents four business models currently being operational in different parts of the world in order to support the commercialisation drive of electric vehicles (EVs). With the help of extant literature, the author develops systematic and multidimensional frameworks on value creation and customers' adoptions barriers related to EVs. These multidimensional frameworks are then used to analyse the selected business models for their strengths and weaknesses. Findings of the study underscore differences in the business models adopted by the selected players with Tesla and e2o emphasising on product innovation while the other two, i.e., Carma and Wanxiang, focusing on the service dimension. The study recommends that adoption of a holistic approach combining product and service orientation in business models is necessary for wide-spread adoption of EVs. Besides, the role of forging partnerships across the value-chain partners and having policy support are also highlighted as key success factors for EVs.