A Study on Foxconn and Wanxiang Group’s Electric Vehicle (EV) Business from Blue Ocean Strategy
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Wanxiang group, the biggest automobile components supplier of China acquired Karma Automotive in 2014, previously called Fisker Automotive, the electric vehicle (EV) maker in California. Also Foxconn, called Hon Hai Precision Industry Co., established the EV joint venture, Future Mobility together with Tencent in 2016. So this study looked into the EV business of Wanxiang group and Foxconn from the blue ocean strategy perspective. To do so, the ‘Four Actions Framework,’ that is ‘Eliminate-Reduce-Raise-Create (ERRC)’ was applied to access the EV business. Generally the EV business can give chances to find blue oceans not only for Foxconn or Wanxiang group but also for any other new entrants. But it does not necessarily mean every firm is able to get the wanted results. Instead the EV business of Foxconn and Wanxiang group is likely to take a limited potential to be a blue ocean due to two issues; the synergy of diversification for EV business and the interests gap among EV buyers.
Abstract
Wanxiang group, the biggest automobile components supplier of China acquired Karma Automotive in 2014, previously called Fisker Automotive, the electric vehicle (EV) maker in California. Also Foxconn, called Hon Hai Precision Industry Co., established the EV joint venture, Future Mobility together with Tencent in 2016. So this study looked into the EV business of Wanxiang group and Foxconn from the blue ocean strategy perspective. To do so, the ‘Four Actions Framework,’ that is ‘Eliminate-Reduce-Raise-Create (ERRC)’ was applied to access the EV business. Generally the EV business can give chances to find blue oceans not only for Foxconn or Wanxiang group but also for any other new entrants. But it does not necessarily mean every firm is able to get the wanted results. Instead the EV business of Foxconn and Wanxiang group is likely to take a limited potential to be a blue ocean due to two issues; the synergy of diversification for EV business and the interests gap among EV buyers.
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