Shifting paradigms in the automative industry

by | Jan 11, 2022 | Assignment

CASE STUDY BETTER PLACE: SHIFTING PARADIGMS IN THE AUTOMOTIVE INDUSTRY–ANSWER TWO QUESTION. Write a 1000 word paper answering; Hence, the two factors including technological improvement and environmental risks associated with ICE usage acted as the key drivers to change. The ultimate aim was to create a “better place” by not only reducing the dependence on oil but also to increase the adoption rates for electric cars.The result was the initiation of a venture that meant to offer “miles” to the target consumers. Although Better Place was focused towards electric cars, it employed a new idea to create demand for electric cars and increase customer adoption of the electric-powered automobile technology. The battery was excluded from the package with only the car being sold to the customer. Instead of selling the battery, the company chose to sell miles through service plans. These service plans would include the battery and the electrical charge necessary in order to power the electrically operating vehicles. This service was an innovation in itself as it meant that consumers were paying to travel a particular miles rather than paying for the battery which was incapable to allowing very long distance journeys. Instead of revamping the battery, Better Place focused on selling miles as were needed by the consumers. Three main plans were highlighted. Better Place leveraged technology so as to construct a recharging infrastructure that would power the electric cars. This required the use of the most sophisticated technology in order to introduce a business model that stood out from the crowd and appealed to prospective consumers. The entire innovation meant lesser burning of fossil fuels in ICE engines in the case of successful adoption of the electric car. Lesser burning of fossil fuels would mean lesser carbon footprint and hence, a reduction in the damaging effects of ICE engines.The market offering by Better Place was inspired by the climatic impact of burning fossil fuels in cars with traditional ICE engine.

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