Electromobility growth market: Identifying IoT business models and suitable partners accelerates market entry
Electromobility in China: GE able to enter the market more swiftly thanks to goetzpartners
General Electric supplies automotive OEMs all around the world with components for electric vehicles. Now it is also seeking to build up a strong position in China, where electromobility is considered to be one of the most important growth markets. goetzpartners helped GE China to enter this market.
Speed and a precision fit
After a comprehensive analysis of the market and the competition, the advisors evaluated more than 80 potential OEMs for their suitability as a partner for GE in the development phase of a new drive train. They then developed models for partnerships for three selected OEMs and supported the negotiations right up to the contract-signing stage. Looking forward, GE China will be working with two conventional automotive OEMs and a new company specializing in electromobility. Thanks to goetzpartners’ knowledge of the automotive sector and its strong market contacts, GE China was able to forge its first partnership within only three months instead of the originally planned period of one year, thus speeding up its entire market entry appreciably.
Basis for new digital business models
In addition, the drive train is an intelligent component that will offer GE opportunities for opening up new areas of digital business. The experts at goetzpartners prepared a preliminary study for GE on the potential offered by digital market segments. On this basis, GE is now able to lay the foundations for future digital business models.
- Automotive sector
CHALLENGES FOR CLIENT
- Swift market entry despite high product localization requirements
- Identification of OEM partners for product development
- Robust evaluation of digital business models
- Detailed partner screening and assessment of requirements
- Extensive support during the partner identification phase until shortly before completion
- Comprehensive analysis of digital IoT business models
- Three OEM partners identified in only three months
- GE able to enter the Chinese electromobility market substantially more quickly
- Basis created for the development of digital business models