New market penetration by start-ups, how managers within new ventures can efficiently penetrate the EV repair market in Norway.

Abstract

Electric vehicles are arguably the future of transportation, as a transition to electric vehicles is necessary to limit the ecological footprint and slow down global warming. A country that has been majorly successful in this transition is Norway. It is important to outline the success factors and market conditions, not only as an inspiration for other countries but for companies wanting to operate in the market as well. Therefore, this thesis aims to analyze the electric vehicle market in Norway and provide suitable penetration strategies for the market. To achieve this, literature about the Norwegian EV market and penetration strategies was reviewed and semi-structured interviews with seven industry experts were conducted. From the findings, two main themes were derived using thematic analysis. The themes identified were; factors affecting the EV market in Norway and The effect of increases in EVs on the service and repair market. Based on the findings, a PESTEL and Five forces analysis was conducted as well as an analysis of potential strategies. Based on this, the researchers were able to conclude that the Norwegian EV market is highly characterized by the political, legal, and technological environment as well as opportunities and growth potential. Furthermore, a model for efficient market penetration by a tech startup in the Norwegian EV repair market was constructed. The model and the concluded characteristics will contribute to theory and fill a gap in the literature regarding market penetration for tech startups in emerging markets. In addition, the practical contribution of this thesis consists of recommendations provided to the case company, AdaptFuture.