I made this assignment for a Strategy Module (University of Westminster) this year and I thought it looked nice. It is important to point out I don't work and have never worked for PWC, it was just a requirement of the assignment to pretend you worked there.

1. BMW Electric
International
Business
Strategy
May 2018

2. May 2018Author
Juliana Reis Mendonca
w1625394
w1625394@my.westminster.ac.uk
BMW Electric Assignment
International Business Strategy
Module 7BUSS008W.2
Business School
University of Westminster

3. Table of Content
Executive Summary
1. Emerging Issues and Industry Trends
1.1 Global Outlook
1.2 Regional Analysis
1.3 Policy Support
1.4 Battery Cost and Capacity
1.5 Charging Infra Structure
1.6 Small Vehicles
2. BMW`s Strategy
2.1 BMW current strategy outlook
2.2 Competition
2.3 Value Chain
2.4 Financial Outlook
2.5 VRIO Analysis
3. Recommendation
3.1 Recommendation 1
3.2 Recommendation 2
3.3 Recommendation 3
3.4 Recommendation 4
3.5 Reccomendations Conclusion
References 32
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5
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10
13
14
16
18
21
23
25
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28
29
30
31
2

4. Executive Summary
This report provides a evaluation and analysis of BMW Group`s strategy regarding the Electric
Vehicle - EV segment. In order to do so, the first part consists in the identification of key emerging
issues and industry trends, which were found to be: regional opportunities, policy support, battery
cost and capacity and charging infrastructure. On the second part, BMW`s strategy is analyzed first
through the identification of its key points, which then laid the foundation to the use of
methodologies such as competition analysis, value chain analysis, financial analysis in comparison
with the industry and finally a VRIO analysis. These tools allowed to establish an understanding of
BMW`s current positioning in the market as a global leading company in the EV segment with
potential long-term competitive advantage for the number and quality of differential resources
and capabilities compared to the competition, in special the owned vertical integration companies,
the joint venture with the Chinese company Brillance and the globally reputable brand. On the last
part of the report, four recommendations addressing the gaps in the organization's strategy as to
the emerging issues are proposed accompanied by the appropriate time-frame.
2

5. Global Outlook
Record growth promising electric revolution to happen sooner than
expected
With the global fleet having recently hitted the
milestone of 3,3 million units (EV Volumes, 2018) the
Electric Vehicles industry is in a booming phase and is
set to really take-off around 2020 (bloomberg, 2018).
This achievement should depend on a set of factors
mainly consisting of:
(i) decreasing battery costs
(ii) improving charging infrastructure
(iii) more intense policy support (iv) total cost of
ownership efficiency compared to petrol-fueled
vehicle.
3

6. Global Outlook
Estimates are that by 2035, electric car sales jump from 1,2 million
in 2015 to around 100 million (6% of the global fleet) (BP,2017).
In this scenario most of this growth will be concentrated in dense
developed cities with strict anti-pollution policies that should
detain most of the infrastructure, whilst smaller towns and rural
area should see a slower gradual shift (MKinsey, 2017).
Scenario
4

7. Regional Analysis
In absolute terms, China was an absolute
leader in 2017, selling a total of 606
thousands units of EVs, 73% more than 2016.
Nevertheless, the biggest growth was in
Japan, due to the successful launch of new
models, with a 150% growth in EVs sales.
In this year, Europe and US also had
significant growth, 39% and 27%
respectively. In Europe the main pull was
driven by Germany, which presented a 108%
year on year raise. (EV Volumes,
2016,2017,2018)
Source: Compiled from EV Volumes 2015,2016,2017
Recent results by regions
5

8. Regional Analysis
The past years tendency for significant growth
for Europe and the U.S. and exponential growth
in China is being confirmed for 2018's Q1.
The fastest growing markets in this period were
China, Canada, Netherlands and South Korea.
And while in the U.S. slower growth can be
attributed to delay on Tesla3 Model deliveries,
Europe's raise has been mainly caused by the
German market pull, which is finally seeing its
efforts pay up and is about to pass Norway as
Europe's EV main market. (EV Volumes, 2018)
Source: Compiled fromEV Volumes, 2018
2018's Q1 results confirming tendencies
6

9. Regional Analysis
However, besides China, other emerging countries have shown great
future perspectives. The pull must be lead primarily by lower EVs
purchasing and ownership prices in these countries, supported by the
development of local companies (as expressed in the high investment
return rate displayed below) and their launching of new low-cost models
encouraged by policies support.
Source: Frontera, 2017
Emerging Countries
7

10. Policy Support
A notable one for its global reach is the EV30@30
Campaign released by the IEA’s, which is cooperating with
Governments and OEM’s as to reach 30% of sales share for
electric vehicles by 2030 (IEA,2018)
Zero Emission Vehicles - ZEV’s mandates implemented in 10
American States and in the Québec province in Canada as a
regulation to the auto industry in the aspect of establishing
minimum quotas of low/zero emissions vehicle sales share by
a credit system (Green Car Congress, 2017).
Spread over 20 EU countries and others such as Brazil, Canada,
China and South Africa, tax reduction for vehicles with low
carbon emissions continue to increase (IEA,2017)
In this aspect, some countries stand out in offering wider
monetary subsidies for EVs’ adoption :like South Korea,
Denmark and Norway. (IEA,2017)
Global Campaign, ZEVs, tax reductions and
monetary subsidies
8

11. Policy Support
Norway also stands out for offering further direct and indirect benefits as exemption of import tax
and free municipal parking (Norway, 2017).
Other European countries such as Netherlands, Germany, France, UK have implemented more and
more strict regulations benefiting the EV industry.
City council such as the ones in Paris, Madrid (Reuters, 2018) and Oxford (PWC, 2018) have concrete
plans to gradually ban petrol and diesel fuelled vehicles partially or integrally from their territory by
2040.
Alternatively, other countries like China start to switch their incentives to more indirect measures
like the exemption from license-plate lotteries (Mkinsey, 2018).
It is predicted that regions achieving high EV adoption rates either through lower total cost of
ownership or consumer preferences might switch to rather to non monetary incentives as they
progress, leaving to the market itself to take the lead of the sector diffusion.
Norway example, bans on diesel/petrol vehicles, switch on support mode
9

12. Battery Cost and Capacity
Increasingly lower costs and improved performance
batteries is probably the most promising opportunity to
the massification of EVs. As institutions such as the
U.S. Department of Energy expect to reach of reducing
the production cost of an EV battery to $125/kWh (75%
decrease from 2012 baseline) (DOA, 2016).
As government stimulates R&D in capacity and
recharging speed (IEA, 2017), the construction of high
scales battery factories must represent the main
pusher for lower costs.
Increasingly Lower Costs
10

13. Battery Cost and Capacity
As 14 megafactories are currently being built or planned
(such as the Tesla/Panasonic factory in Nevada) - nine
in China (Bench Market Mineral Intelligence, 2017),
battery prices are expected to fall rapidly to become in
parity and even lower the petrol or diesel fueled
drivetrains as demonstrated in the chart below:
This parity expected to be reached by 2020 is crucial to
the industry as it might represent a turning point to
infrastructure ready countries where from this year will
potentially boom, after this stage, further
advancements in the industry would primarily rely on
infrastructure consolidation and on the speed of
changes in consumer preference.
Source: British Petroleum, 2017
Illustrative Path for battery Pack
Costs
11
Increasingly Lower Costs

14. Charging Infrastructure
As a primary enabling factor to the full deployment
of EV's, the installation of public and public charging
infrastructure has significantly grown in similar
proportion to the EV fleet in operation.
Even if the number of private charger is still much
higher than the public available ones, the 72%
increase on publicly available charging stations was
mainly lead by China, who augmented its public
charging structure in 118% in 2016 (IEA, 2017).
Infra Structure Growth
12

15. Charging Infrastructure
Stimulated by aims and targets such as the EU Directive on the Deployment of Alternative Fuels, the
UK Automated and Electric Vehicles Bill (UK Gov, 2018) and the Korean mission of deploying 3000
publicly accessible fast chargers by 2020, availability of charging spots has drastically been boosted
through subsidies, fiscal discounts, integration with structural regulations and permits, direct
investments and private-public partnerships (the Economist, 2017).
Although the rise on charging points in itself is a positive sign, it is fundamental that it is supported
by targeted studies by local structure planners as not to cause under-use and mismanaged public
resources that could entail on the blockage of future investments on electrification. Charging
infrastructure must thus be adapted to local usage behaviour in integration with locally, least as
possible sourced local electric energy.
Policy Support
13

16. Small Vehicles
As electrification of the energy matrix quickly
advances in emerging countries, especially China and
India - regions of highly dense urban areas, the
adoption of smaller traffic and parking efficient
vehicle seem to become an emerging trend.
In China the Low Speed Electric Vehicle - LSEV output
reached 1.232 million units in 2016, an increase of
79.1% year on year (Newswire, 2017).
With a maximum speed varying from 40 to 70 km/h,
the product can partially displace automakers as a
substitute industry especially among a uprising
middle-class in these emerging countries.
Low-speed and two-three wheelers
14

17. Small Vehicles
Besides that, electric two and three-wheelers have also gained a lot of space as result of regulation
and still strong share in the mobility matrix they traditionally represent in these countries.
In China, two and three-wheelers benefit from ban on gasoline-powered motorcycles, limits on the
issuing of licences, and the division of lanes (Yang et al., 2014).
Furthermore, the two-wheelers segments still represent 80% of the Indian auto market share,
experiencing a 14,7% growth on 2017 (IBEF, 2018), whereas in Southeast Asia, the massive presence
of the three-wheelers tuk-tuk becomes a significant potential market as the Thai government
implements a policy goal is to fully replace the 22 000 tuk-tuks currently on the roads within five
years (Thai Rath, 2016).
Low-speed and two-three wheelers
15

18. BMW current strategy outlook
Currently owning a total of 15 product brands and service marks, the BMW grew from simply
producing cars to become a global respectable name in ever since the provision of mobility solutions
to electric vehicles and financial services.
As to maintain and expand competitivity, the group’s strategy adopts a customer focus approach as
to predict, to prepare and to operate accordingly with emerging issues and trends.
Under this logic, four essential issues of the auto industry have been incorporated as developing
aims to the group: autonomous, electrified, connectivity and shared services.
16

19. BMW current strategy outlook
Electrification Strategy
Regarding the electrification aim, the group has planned a pathway organized in three stages: (i)
pioneering: technology and research development, (ii) electrification of current portfolio: launch
of hybrid and electric versions of current models and (iii) scalability and flexibility: when the
company would finally launch new EV models in scale.
So far, the group’s representant fully electric vehicles are the BMWi3 and the BMWi3s, besides
that, nine other hybrid models have been successfully released.
The electrification planned by the organization is set to be gradual,
from the 25 electrified models to be launched by 2025, only 12 shall
be entirely electric, with highlights to the BMW i8 Roadster
(hybrid), Mini BEV and BMW iVision Dynamics (fully electric.
Besides the electric vehicles, the group has plans to launch a series
of petrol-fueled vehicles, SUV’s and Motorcycles by the end of 2018.
17

20. BMW current strategy outlook
In 2017, the group’s profit before tax passed the mark of 10
billion euros, best result in years, where the best improving
segment was the motorcycle with a 10.7% high and the
Chinese market as the fastest growing market with 15.1%
more units sold than 2016.
Currently, the group’s main market is located in Europe,
where Germany, UK, Italy and France concentrated 29% of
market share, followed by China (24,2%) and the United States
(14,4%) (from BMW,2018).
Limiting to the electric cars segment, the group displayed
great results with a 65,6% units sold growth, already including
the pre-launch sale of the Mini BEV.
Europe (top 4)
29%
United States
14%
China
24%
Others
32%
Source: Compiled from BMW, 2018
18
BMW`s Main Markets

21. Competition
According the number of battery electric vehicles and plug-in electric
vehicles in 2017 (EV Volumes, 2018), BMW’s main competitors on the electric
car niche are: BYD, BAIC, Tesla, Volkswagen Group and the Renault-
Mitsubishi-Nissan Alliance.
Both BYD and BAIC are Chinese companies who were the best performers in
2017 mainly due to the launch of highly technological models with
advantageous price in the Chinese market. BYD along with Tesla have the
advantage of having vertical integration with the production of batteries and
installation of home recharging systems.
Renault-Mitsubish-Nissan also performed well mainly due to the
consolidated success of model Nissan Leaf and the Renault Zoe, which
compete on a lower price range market along with the most successful
Volkswagen - the e-golf.
19

22. Competition
However, considering aspects such as brand image, price range and
presence on American and European market so far, it can be considered
that BMW’s group man competitor for targeted market is the Tesla
Group. And if on one hand, Tesla has the advantages of integrated
charging systems and strategic vertical integration for the production of
batteries, on the other hand, Tesla’s models are still considerably more
expensive than BMW’s electric model.
BMW’s advantage laying on the fact it is historically reputable brand
with great performance that counts with prices between the more
popular models such as the one launched by Chinese companies, R-M-
N, Toyota and Volkswagen; and Tesla’s expensive luxurious fleet.
In this sense, a potential competitive threat to BMW is the launch of
Tesla’s 3s model, which shall be launched by the end of the year with
similar features and comparable price with the BMW 3-series.
20

23. BMW current strategy outlook
Value Chain
Firm Infrastructure
Human Resources
Technology
Procurement
InboundLogistics
Operations
OutboundLogistics
MarketingandSales
Services
Margin
Intense efforts on CO2 emissions reduction
Cooperation with info/tech giants (ie. Intel)
High R&D expenditure ratio
Performance Cash Plan
Low rates of accidents
Vocational Training
CDP Supply Chain Program
Sustainability assessed suppliers
Strategic Alliance with competitors for better supplier integration and
prices
Highly Compensated Board Management
Long term planned governance
Management data and information systems
HighSavingsfromResource
Efficiency
RenewableEnergyusage
Productionbycustomerorder
Supplyorderautomaticallyintegrated
withresourcedemand
Smallnumberofsuppliers
31productionfacilitiesin14main
marketsenablelesscostlylogistics
63%ofVehiclesoutbytrain
reductionintheshareofairfreight
end-of-lifevehiclerecyclying(reverse
suplpychainmanagement)
PositiveReputaionforgreatcustomer
servivce
OwnInsuranceandFinancingservices
Positiveandwidespreadbrand
image
Lavishandilluminateddisplaysalons
CustomerLoyalty
21

24. BMW current strategy outlook
22
Value Chain
According Porter and Miller (1985) “A business is profitable if the value it creates exceeds
the cost of performing the value activities. To gain competitive advantage over its rivals, a
company must either perform these activities at a lower cost or perform them in a way that
leads to differentiation and a premium price”.
Porter thus suggested that these activities could be organized in a value chain scheme as
illustrated above in the case of the BMW group. As reinforced over their annual reports and
shareholders presentations, the group prioritizes a number of values that reflect on most of
the activities in the value chain at the same time performing as differentiation factor that
enables the solidification of their competitive advantage.
These values are primarily: investment on people, environmental sustainability, focus on
efficiency, brand image and cooperation and strategic alliances. Sustained over these
principles, BMW group is able to deliver products and services with high added value, where
costs are minimized on processes efficiency rather than by quality reduction.

25. BMW Financial Outlook
Source: Reuters, 2018
Sales growth outperformed the
industry mainly by increasing
positive performance on the
Motorrad (motorbikes) segment,
financial services and boosting sales
of electric vehicles as the general
cars segment grew only slightly in
the last years. It can also be
considered that the better result
than the industry can be linked with
the company competency to have its
market reasonably distributed over
the globe, thus being less subjected
to regional fluctuations.
Financial Ratios
23

26. BMW Financial Outlook
Current Ratio lower than the industry as the company has great parts of
their assets immobilized in production facilities all over the world, 31 in 14
countries as mentioned above.
High debt ratios as results of high investments in R&D (especially on
electrification and autonomous vehicles) and new production facilities
like the Dadong plant in Shenyang in Joint Venture with Brilliance China
Automotive Holdings Ltd. and the one in San Luis Potosí, Mexico.
Different positive Gross Margin not reflecting on similar result for net
profit margin which can have its under the industry performance
attributed to the high amount of interest paid (also evidenced by
debt ratios).
At last, low return on investment might be related to the rather medium
and long-term nature of investment made mainly in production facilities
as 40 new models are being launched in the 2017/2018 period, from which
25 must be electric vehicles.
Financial Ratios Analysis
24

27. VRIO Analysis
VRIO Chart
25

28. VRIO Analysis
Analysis
Long-Term competitive advantage supported by brand global recognition and reputation, joint
venture with Chinese company and scalable modular electric construction kits;
According to Fortune Magazine (2017), the company is the highest ranked automobile
manufacturer and the most admired European brand. As to the scalable kits, it consists of a
technology developed by BMW that will enable that every model to be adapted to function with
electric drivetrain by customer request.(BMW 2018).
Sustainability values and efforts towards anticipating the emerging issues and
developing strategic R&D are entrenched in the whole value chain, consequently presenting
substantive competition results
Cooperation with other auto manufacturers and tech companies besides the joint venture in
China highlight a long-term scenario awareness, where key players and markets are well
identified.
26

29. Recommendation 1
Vertical Alliance with CATL to construct a batteries production facility in China
Suitability: In order to follow the rising demand for battery electric vehicles,
such as the Mini BEV in 2019, to raise the production capacity and lower the
costs for batteries through a new battery production facility would be
essential. And CATL as an already supplier partner and now largest battery
producer in the world (Financial Times, 2018) would be the ideal choice of
partner as it is also located in such an important market like the Chinese.
Acceptability: Though presenting clear return on investment possibilities,
especially given the boom for the electric vehicle market in 2020, the project
might face resistance from shareholders. That would be due to the great
amount of cash involved which would rise significantly already high debt
ratios.
Feasibility: The project can be considered feasible given the high revenue
recently achieved by BMW. Also, its great brand reputation and the recent
record results obtained with EV sales would have a significant weight as
bargaining power in the agreement with CATL.
27

30. Recommendation 2
Vertical Alliance through BMW ChargeNow with Canadian Solar on the development
of home solar panels integrated with car charging system;
Suitability: Though BMW already has a well-structured company for public charging
stations “ChargeNow”, there is still a gap in the provision of home private solutions.
Being the dominant charging form in countries like Norway, home integrated
charging solutions are already being provided by competitors like Tesla and BYD and
represent a potential vertical market for BMW Group.
Acceptability: The alliance should not face great resistance from stakeholders since
the highest efforts involved would be on the development and marketing, not costing
much besides the representative value it would add up to BMW’s EV value
proposition.
Feasibility: The Alliance proposal would not involve so much cash investment from
BMW (panels would be provided by the Canadian company). Besides that, the
Canadian government has presented positive results and policies stimulus to
environmentally friendly initiatives, the project would be likely to get tax and
regulations incentives in the country. Therefore, the project can be considered
feasible.
28

31. Recommendation 3
Cooperation between BMW’s Battery Cell Competence Center and the Technical
University of Munich to further development of battery efficiency
Suitability: As the battery sector gets more and more competitive with prices
are set to drastically decline in the next years, it is essential that BMW group
has enough R&D capacity and quality to ensure it keeps up with competition
not only in terms of price, but also in terms of efficiency.
Acceptability: It would be easily be accepted by all stakeholders involved as it
would generate positive outcomes to BMW Group as well as to the Universitary
Institute, who would profit from globally renowned company for technology
development.
Feasibility: As both BMW’s Battery Cell Efficiency Center (to be ready in 2019)
and the University should located in the same city, the project could be easily
logistically feasible; Besides that, it could work as a form of attracting local
highly skilled human resources.
29

32. Recommendation 4
Include the production motorbikes in the Joint Venture with Brillance in China
Suitability: The recommendation addresses the emerging issue of smaller
vehicles as a great potential market, which is evidenced by the over 10% segment
growth in BMW’s group. It would take advantage of the already well established
Joint Venture with Brillance, producing in a country with low production costs
which is also a great market for the two-wheels segment.
Acceptability: The project might face internal resistance for the financial risk it
represents since it would implicate into the construction of another engine
production and assembly facility.
Feasibility: The project can be considered feasible as despite of the high cash
expenditure, the Joint Venture already has established suppliers in China besides
of a secure growing demand and brand presence in the region.
30

33. Recommendations Conclusion
Finally, it is recommended that the BMW Group should keep their investments and efforts
in technology development mainly in two directions: battery cost and efficiency and
provision of charging solutions.
In this scenario, it is suggested that in short term, the company constitutes alliances and
better exploit their current facilities and resources whilst it uses the highly positive revenue
results to cover existing debt.
In medium and long-term, the company should stretch their vertical reach through the
constructions of new facilities in potential segments and markets and also consider mergers
and acquisitions of energy and battery providers as debt decreases to less risky level.
1 Y 3 Y 5 Y 7 Y 9 Y
Recom
.1
Recom
.2
Recom
.3
Recom
.4
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