Successful players in the global buoyant electric mobility, or e-mobility, market are employing five key strategies to address consumers’ concerns about the switch to electric vehicles, according to a new analysis by brand consultancy WMH&I.
WMH&I’s “Growth of Mobility” report identifies the brand strategies pursued by brands operating in the e-mobility market and analyses how these are helping them to build their appeal with consumers.
The report shows that the electric mobility market is expected to experience a 15.1% compound annual growth rate this decade and automotive brands have significant opportunities to grab a share of this volatile emerging market.
However, brands must overcome consumers’ fears about the switch to EVs, amid concerns about costs, worries about the technology, range anxiety and the challenge of choosing the right brand.
The report examines the strategies of a range of successful brands such as Tesla, Polestar, Nissan and Rivian. Their brand strategies are broken down into five key typologies:
– Market innovator – brands that subvert the status quo of the e-mobility market, including Tesla and Polestar.
– Convenience director – those which target inconveniences prevalent in the e-mobility sector, such as Ionity and Joby Aviation.
– Ecosystem architect – those building ubiquitous e-mobility networks. This includes brands such as NIO and BYD.
– Sensation Champion – brands that increase the soulfulness of e-mobility. Nissan and ONTO fit into this category.
– Retro Futurist – brands that creates nostalgic comfort surrounding e-mobility. Rivian and X Shore are examples.
The typologies address consumer needs and fears as they interact with the new and dynamic market and can help predict future trends in unfamiliar markets.
To take full advantage of the opportunities on offer, e-mobility brands need a deep understanding of the dynamics of the market as they battle to capture the attention of consumers with standout marketing and creative branding.
Alice Pukhova, researcher at WMH&I, said: “This report is invaluable reading and a strong guide for brands looking to create a spark in the e-mobility market.
“We were struck by the very clear positioning that the most successful brands are creating and were fascinated to be able to break this down into five key groups.
“Any brand looking for a piece of the action in e-mobility should pay close attention to these typologies as they offer valuable insights into the direction of the market.”
WMH&I is an award-winning branding agency that 25-years cross-sector experience. It works with multinational corporations to SMEs. Its clients include major brands in automotive including Castrol and Honda.