LIT Motors
The Path Forward: LIT MOTORS
This report considers the strategy for Lit Motors; a San-Francisco based electric car start-up with two prototype vehicles in development. The Lit C-1 is the flagship product described as an enclosed, two-passenger, electric-powered, two-wheeled “daily driver”. The Lit Cargo Scooter folds to a small footprint when not in use and provides additional cargo space compared to normal scooters.
The president and founder of Lit Motors is Daniel Kim, an erstwhile science and design student with a passion for cars. The company has reached the stage where decisions must be made regarding the route forward for the company including product prioritisation, targeted market segment and funding strategy.
This report outlines the path forward for Lit Motors:
Section 1: The “current” strategy for Lit Motors in December 2012
Section 2: The main challenges that Lit Motors is likely to face in the near future
Section 3: Recommendations for Lit Motors to progress from its current position and address these challenges appropriately
Section 1: The Strategy for Lit Motors in December 2012
The company has two vehicles under development with the potential to serve very different market segments.
The C-1 is targeted at two discrete customer segments in the developed world. The first is “Generation Jones”, older, high-earning men who are passionate about motor-cycles but are now also concerned about safety and convenience.
Kim asserts that these men no longer have the strength to ride large bikes and now have responsible roles requiring suits on a daily basis meaning they cannot wear motorcycle leathers and helmets. It is questionable whether these men would accept the C-1 as a substitute for the wild experience of motor cycle riding and the C-1 might underline rather than mask their changing lifestyle. Former-bikers who do not mind being seen in a little aluminium-encased electric scooter constitutes a small market segment and pursuing this
This report considers the strategy for Lit Motors; a San-Francisco based electric car start-up with two prototype vehicles in development. The Lit C-1 is the flagship product described as an enclosed, two-passenger, electric-powered, two-wheeled “daily driver”. The Lit Cargo Scooter folds to a small footprint when not in use and provides additional cargo space compared to normal scooters.
The president and founder of Lit Motors is Daniel Kim, an erstwhile science and design student with a passion for cars. The company has reached the stage where decisions must be made regarding the route forward for the company including product prioritisation, targeted market segment and funding strategy.
This report outlines the path forward for Lit Motors:
Section 1: The “current” strategy for Lit Motors in December 2012
Section 2: The main challenges that Lit Motors is likely to face in the near future
Section 3: Recommendations for Lit Motors to progress from its current position and address these challenges appropriately
Section 1: The Strategy for Lit Motors in December 2012
The company has two vehicles under development with the potential to serve very different market segments.
The C-1 is targeted at two discrete customer segments in the developed world. The first is “Generation Jones”, older, high-earning men who are passionate about motor-cycles but are now also concerned about safety and convenience.
Kim asserts that these men no longer have the strength to ride large bikes and now have responsible roles requiring suits on a daily basis meaning they cannot wear motorcycle leathers and helmets. It is questionable whether these men would accept the C-1 as a substitute for the wild experience of motor cycle riding and the C-1 might underline rather than mask their changing lifestyle. Former-bikers who do not mind being seen in a little aluminium-encased electric scooter constitutes a small market segment and pursuing this
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