ZAP Vehicles SWOT Analysis
...ver production electric automobile imported from its manufacturing partner in China; in 2004 ZAP introduced electric ATVs and the fuel-efficient Smart Car. Today, ZAP is a one-stop portal for a diverse lineup of quality, affordable advanced automotive technologies. ZAP has delivered more than 90,000 vehicles to customers in more than 75 different countries. ZAP is dedicated to high technology research and development, and owns many patents and trademarks. ZAP is the only recognized brand name in electric transportation and has been acknowledged as an industry leader by Time Magazine, The Wall Street Journal, Industry Week and Advertising Age Magazine. II. SWOT Analysis Strengths Strong advertising and promotion Twelve electric bikes were used at the 2000 Olympics in Sydney for regular patrols of the Olympic Village. Other ZAP products were also stated to appear in four big screen movie productions in the summer of 2001. Conducted several acquisition Competition in the EV industry is growing now as well as the number of acquisitions. ZAP took advantage of this and conducted several acquisitions itself. ZAP acquired EV Systems, CA; Aquatic Propulsion Technology, Inc. Acquired several patents ZAP has a number of patents covering its electric vehicles. This is strength because ZAP is known for its patented Zappy that helped pioneer the market for electric motorized scooters in 1997. Conduct business overseas Conducting business overseas saved ZAP money. With the money they saved managing business in Twain, ZAP could focus more on distribution improvements. Development of new product ZAP will continue the necessary expenditures for research and product development. Environmental friendly As the company states itself, ZAP is environmentally friendly, saves money, saves time, helps the economy, and battles global warning. Weaknesses Lack of advertisements Although ZAP promotes on TV and other events, it still does not have enough advertisement. With lack of advertisement, ZAP gives its competitors an opportunity to grow in the industry. Poor financial standing It is evident from their consolidated Statement of operations which show’s a net loss since they opened doors in 1995. Zap need to evaluate what priorities are most important and allocate funds to the necessary departments for beneficial results. Opportunities Internal product development ZAP’s expansion of their product line will keep them ahead of their competitors. Their continuous invention of new product expands ZAP name brand. ZAP’s performance is substantially dependent upon the services of its executive’s officers and other key employees. The loss of service of its officers, other key employees and inability to hire a sufficient number of qualified employees will harm ZAP business. Unmet demand for alternatives There is an unmet demand to the bicycle and other recreational short range modes of transportation. These EV’s are also marketed as alternatives to existing gasoline powered vehicles...