The Research On Market Entry Strategy Of UK For BYD New Energy Electric Vehicles

Under the complicated and changeable international economic pattern, it makes every enterprise faces dual choice of risks and opportunities because the enterprise international strategy drives the change of productivity development, industry and business model changes. Research of object of this article, BYD limited company, is a private company that has already practiced the international strategy and been accelerating the progress of internationalization. BYD Ltd, a world's top battery manufacturers, has become one of the three giants in the world's battery field with its unique lithium-ion battery technology and energy storage technology. Furthermore, BYD Ltd has established the market strategy of new energy electric vehicles that the linkage development mode in more than one market, which makes it the world's leading new energy electric vehicles along with Tesla and Toyota with its international strategy and technology evolution. However, BYD Ltd is in the dilemma that the North America as core market encounters obstacles, which need to set the new market entrance strategy for reversing the adverse situation of overseas market. Based on this background, BYD Ltd has established its market entrance strategy for the UK preliminarily, which was based on the experience of the overseas market expanding and present tendency of market development.Based on this background, the paper does the systematic research on the entrance of BYD new energy vehicles to the UK market. On the one hand, reasonable advices on the British market entry strategy of BYD new energy electric vehicles are provided from the theoretical level; on the other hand, by evaluating the effect of strategic choices, beneficial reference are offered for domestic enterprises to carry out'go out' internationalization strategy and enter overseas markets. In order to achieve the above goals, the paper makes research and analysis through SWOT model. Porter Diamond Model and the comparative advantage theory respectively. First of all, By the theory of overseas target market entrance(Franklin R. Root), the paper sets UK as a target market to analyze the feasibility of the overall environment, market size and growth degree, and to do further demonstration analysis from the point of macroscopic environment, demand conditions and horizontal competition combined with Porter Diamond Model(Michael Porter), and finally makes the conclusion of the reasonability and feasibility for BYD new energy electric vehicles to enter into British market. Secondly, the paper uses SWOT method to make comparative analysis of the internal and external environment for BYD new energy electric vehicles entering British market from the standpoint of advantage, disadvantage, opportunity and threat, and summarizes that there are advantage competitiveness for BYD new energy electric vehicles to enter into British market, and concludes that the optimal strategy is the ST strategy which can avoid threat, that is, entering into the market segment of British new energy electric vehicles through developing new products as well as core technology and overcoming objective threat. Third, analyzing the way BYD new energy electric vehicles enter the UK market from a systemic vision of goals, entry mode and marketing planning. Finally, to achieve the strategic objectives to enter the UK new energy electric vehicle market, the author presents his proposals and measures on five aspects:First, Narrowing competitive disadvantage caused by cultural differences and fostering multinational culture; second, Constructing tissue architecture with high autonomy and optimizing the organizational structure; third, Creating personnel system in line with British characteristics and formatting international teams; fourth, Strengthening technology Exchange and R&D cooperation and enhancing the level of R&D internationalization; fifth, Integrating the management of cross-border capital and building cross-border financing system.