Theoretical Framework for Electric Vehicle Adoption: Strategic Market Entry

Abstract

In a rapidly evolving landscape shaped by technological innovation and environmental challenges, EVs (Electric Vehicles) have become a foundation of sustainable transportation solutions. Despite their potential, significant hurdles remain, including high initial costs, inadequate infrastructure, technological limitations, and consumer resistance. This research aims to provide a comprehensive analysis of the key factors and barriers associated with adopting EVs across global markets, leading to the developing of a structured framework that businesses can leverage for strategic market entry. The study is divided into three main chapters: an exploration of current trends in automotive innovation with a focus on EV development; a literature review and theoretical framework that identifies the core drivers and barriers to EV adoption; and a set of findings and managerial implications offering actionable recommendations for businesses looking to enter the EV market. The research will also incorporate case studies and real-world examples to highlight how different regions and companies have tackled these challenges. The ultimate goal is to propose a practical, step-by-step framework that allows businesses to evaluate market readiness, allocate resources efficiently, and tailor regional strategies based on specific market dynamics. By addressing these critical issues, the research offers valuable insights for companies seeking to secure a competitive position in the expanding EV market. Furthermore, it contributes to global sustainability efforts by supporting the widespread adoption of cleaner, more efficient transportation solutions.