Research On Business Model Innovation Of Carmaker: Based On The Perspective Of Internet Thinking

As the Chinese economy enters the new normal, the industrial structure is faced with optimization and adjustment and the competition in the industry becomes increasingly fierce. However, the Internet wave promotes the various industries to get rid of the stale and bring forth the fresh, and enterprises are in the transformation of business models. The automotive industry, as one of the traditional pillar industries stimulating national economic development, is also pushed to the cusp of the Internet, and with the Internet thinking, there will be profound conflicts between the business logic of Internet and business logic of traditional carmakers. They will face enormous challenges while facing opportunities. Based on this background, this paper aims to provide a reference about what ideas and business models carmakers should take in the Internet age and put forward some advices on how to drive business model innovation with new technologies and new ideas as well as create value by consumer’s demands, which has a certain theoretical and practical significance.The paper first introduces the definition of the concept of business model, elements of business model and basis of business model innovation by scholars both at home and aboard, and further explores the relevant characteristics of the Internet thinking and proposes the enterprises’value proposition, networks, product design and manufacturing methods, profit model and organizational form as important elements of business model studies in the paper considering the combination of theories and practices and application to the paper, which is the theoretical basic for the following studies and analysis. The paper then takes Beijing Hyundai as example to analyze the business model and operating status of carmakers, including the existing difficulties and cause analysis, thus leading to the necessity and feasibility of transformation by use of Internet thinking. Then the paper studies the impact of the Internet thinking on business model, including the trend of business model transformation and the impact on carmakers’business model, and then provides solving ideas to carmakers faced with these problems. Based on this the paper puts forward solutions, that is four paths of business model innovation of carmakers under the Internet thinking, including open, individual, intelligent and information-sharing design and manufacturing of cars, smart car business model as well as Internet of Vehicles business model and carmakers’ transformation from the carmakers and vendors to the Internet travel service provider and analyzes through concrete examples, thereby provides reference for carmakers to take what kind of business model and how to innovate in the Internet age. Finally, the paper summarizes the development trends of business model for carmakers under the Internet thinking and indicates the paper’s limitations and the need for further study.