Automotive Industry and Wanxiang Group Essay

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Bust of Fisker
Yucong Liu
Dr. Timothy Gilbert

In 2007, Henrik Fisker was found Fisker Automobile, this company is one of the world's first production plug-in hybrid electric vehicles. In 2008, Fisker was launched the first models called Fisker Karma. Excellent design and advanced technology was attracting many famous customers, such as Bill Gates and Leonardo DiCaprio. The same in 2008, Fisker was launched two concept cars are Tramonto and Latigo CS but they are not production. Since Fisker with another famous American electric vehicles manufacturer Tesla was born in California at the same time, and both are based on the production of ultra-luxury electric vehicles ran way into the U.S. auto industry, both sides take the high road, Tesla's the first car Roadster and Fisker's first production car Karma's starting price is around $ 100,000, design of the two cars are also very excellent, there is one thing in common is that both when the company's first electric supercar market, a lot of American celebrities have been snapped up, has a very broad social impact, but now the development of Tesla's heyday, Fisker was crumbling, to the brink of bankruptcy.
So how Fisker was bankruptcy? That has a great relationship with Fisker’s bad luck. Fisker Karma, twice spontaneous combustion, twice recalled. Later, in a hurricane disaster soaked by seawater on its New York warehouse 300 new electric vehicles, the direct economic losses of up to $ 32 million. And the water-soaked electric car and somehow spontaneous combustion occurred. We all know that, for electric cars, consumers are most afraid of hearing the word is spontaneous combustion. Continuous spontaneous combustion accident on Fisker electric car, basically ruined their sales.
In addition, the senior leaders in Fisker was changed. Although its founder Henrik Fisker ˙ is a very good car designer, now worked at BMW. He was designed Aston Martin DB9 and BMW Z8, but he is not a good car manager. Later, Henrik Fisker forced to leave. But Fisker was already in deep crisis who could not save it, only to embark on the road to bankruptcy.
At first, we must admit that Fisker and its electric cars, are very famous, design is also very dynamic. So when Fisker embark on the road when the acquired, has aroused great interest in the five purchasers in China, they are: Geely Automobile, Dongfeng Automobile, Beijing Automotive Group, Guanghui Group and Wanxiang Group. Finally, Wanxiang Group was purchase the Fisker Automotive.
Wanxiang Group bought Fisk, because of course see the same for the new energy electric car company Tesla's success, not willing to perish Fisk thereon. In fact, there have many similar strategies between Tesla and Fisker, from this point on their respective product planning will be able to see it.
Before Tesla, Elon Musk already have a series of brilliant entrepreneurial experience.
He understands the secret of product promotion, has been a high profile. In the public eye, he is successful businessman in Silicon Valley. Musk has been IT ideas to promote their products, he is a strong product promoters.
Musk on grand strategy, including product design and marketing of products for enterprise development of these relationships, advocates see a problem to get out of the automobile industry. So, in Tesla's senior managers do not have the traditional auto industry out of employees. But Tesla's middle managers, these specific performers are well versed in the automotive industry people. Of course, the reason of Fisker went bankrupt dilemma today, in addition to lack of funds and management confusion, there is another important reason is that it has not mastered the core technology of electric vehicles.
Broad business thinking take Tesla into a different auto industry development track with traditional automotive company. Such as electric vehicles from luxury sports cars and luxury car segment; separate the dealer system,