Research On Competitive Strategy Of Sgmw’s New Energy Vehicle Business

In recent years,China has issued a series of policies so as to promote high-quality economic development,foster green and low-carbon industries,and lead the new energy revolution.The policies has stimulated the development of new energy vehicles,but is also intensified internal market competition.Starting from the production of small pure electric new energy vehicles for short-distance travel,SGMW has become the national sales champion of new energy vehicles in only five years,achieving hard-won and remarkable results.Nowadays,domestic and foreign enterprises have changed their careers to enter this field after seeing the strong development momentum of new energy vehicles.What’s more,some traditional automobile enterprises have increased their research and development efforts and successively launched new energy vehicles with higher quality and lower price.In the face of an almost white-hot competitive market,it is very worthwhile to study what kind of practical and effective competition strategy SGMW should adopt in order to sustain high-quality development of its new energy vehicle business.This paper analyzes the internal environment of SGMW’s resources and capabilities,using the Internal Factor Evaluation Matrix(IFE)to score.This thesis also studies the external macro environment of SGMW and the current situation and trends of the development of the new energy vehicle industry,meanwhile,the competitive environment and competitors are facing by SGMW.Then using the external factor evaluation matrix(EFE)to score the study data.And using the SWOT analysis method to identify the alternative strategic measures.Finally,according to certain principles and QSPM tools,the optimal competitive strategy is evaluated,and in accordance with SGMW’s strategic goals,a specific competitive strategy is formulated.In the meantime,corresponding strategic safeguards are proposed.After a lots of analysis and researches,SGMW has been proved that need to continue to strengthen its advantages,further develop the new energy vehicle business,implement a differentiated competition strategy,and improve the level of differentiated competition in terms of vehicle quality,R&D technology,market orientation,and marketing innovation.Besides,SGMW should also provide safeguard measures for its competitive strategy from six aspects,including optimizing the organizational structure,improving the personnel assessment system,strengthening corporate culture,increasing talent training,improving supply chain management capabilities,and improving foreign marketing service capabilities.By applying the above mentioned measures,the company’s sustainable and healthy development in a complex competitive environment will be promoted.At the meantime,the measures could also be good references for other national new energy vehicle industry companies to choose the selection and formulation of competitive strategies.