Purpose : The global electric vehicle market is currently experiencing a chasm due to structural challenges such as technological limitations, insufficient charging infrastructure, and high initial costs. This study develops business strategies for Hy...
Purpose : The global electric vehicle market is currently experiencing a chasm due to structural challenges such as technological limitations, insufficient charging infrastructure, and high initial costs. This study develops business strategies for Hyundai Motor to overcome this chasm in the global EV market and to establish a mobility ecosystem..
Research design, data, methodology : This research applied a SWOT-AHP approach by integrating SWOT analysis with the Analytic Hierarchy Process (AHP). Based on this, we derived a SWOT strategy for Hyundai Motor to overcome the chasm in the global electric vehicle market and build a mobility ecosystem.
Results : Based on the empirical analysis using SWOT-AHP, the priorities of SWOT strategies for Hyundai Motor to overcome the chasm in the global electric vehicle market and build a mobility ecosystem are as follows. SO strategy was ranked first, ST strategy was ranked second, WO strategy was ranked third, WT strategy was ranked fourth.
Conclusions : To become a leading company by capitalizing on the opportunities of the continuously growing global EV market, Hyundai Motor must advance its electrification technologies and actively pursue innovation in response to the rapidly changing industrial environment.