商業模式與生態系統布局策略：以比亞迪電動車業務為例

Abstract

2015 年，全球政府因應地球暖化，簽訂了「巴黎氣候協定」，許多國家訂下禁售燃油車的最終年限，並著手推動電動車及再生能源等產業，提供電動車生產或購買的補助措施，促使電動車產業開始成長，其中電動車產業崛起最快的國家便是中國。 在中國眾多電動車企業當中，目前比亞迪為中國電動車領頭羊，2023年超越傳統汽車大廠福斯集團，成為中國車市新銷量冠軍，同年末甚至一度銷量超過電動車領導者Tesla。但是一間企業的營運狀況不能僅就銷量評斷，比亞迪雖然看起來興興向榮，但實際上其成本優勢策略和低價策略使它盈利非常有限。 本文以個案研究方式，探討比亞迪的企業發展歷程，分析其如何由一家以消費性電池、手機零件製造與組裝為主要業務的公司，轉型成為汽車產業，最終轉型為電動車廠。 本研究將比亞迪的發展歷程分為三個階段，分別為消費性電池與初入汽車行業時期（1995-2008年）、電動車萌芽與燃油車成長時期（2009年-2015年）以及電動車大眾市場與生態時期（2019年-至今）。 藉由分析各時期轉型動機、資源與能力、經營策略，藉此統整該時期的商業模式，並總結每一時期比亞迪所達成的階段績效。第一階段比亞迪藉由消費性電池起家，累積鋰電池製造技術和資金後，透過併購進入汽車行業，並將電動車作為最終目標產品努力，相信該產品為電池與汽車的整合應用。 第二階段在電動車技術未成熟、商業化之前，利用燃油車、手機零組件製造與組裝等金牛事業，持續扶植電動車研發，並乘著中國政府將電動車產業列為國家戰略性產業之際，取得激勵與補貼。 第三階段終在中國燃油車內需逐漸飽和、Tesla證明電動車商業可行性、進入中國市場等背景因素下，比亞迪電動車事業開始茁壯。並積極垂直整合供應鏈，確保成本優勢及上中游關鍵原料供應無虞；同時比亞的進行國際擴展，設立海外工廠，快速複製生產技術，以迅速增加汽車產能，滿足全球市場需求。 後續更進一步分析比亞迪生態系的顛覆和擴張策略，最後提出比亞迪的未來挑戰與潛在風險，以及管理建議。 近年，比亞迪面臨中國國內市場趨於飽和、成本優勢策略壓縮盈利等隱憂，在國際上，也受新一波中美貿易戰波擊，歐盟各國則豎起了電動車反補貼的高牆。 本研究建議比亞迪在歐美可以「以技術換市場」，在當地市場尋找商業夥伴，藉由技術指導或授權方式，讓比亞迪在地生產，避免觸及貿易壁壘的相關規定；並積極開發拓展非歐美市場，解決國內產能過剩問題。

In 2015, in response to global warming, the "Paris Agreement" was signed, with many countries setting final deadlines for banning the sale of fuel vehicles. These countries began promoting industries such as electric vehicles and renewable energy, providing subsidies for the production or purchase of electric vehicles, thus prompting the growth of the electric vehicle industry. Among the countries where the electric vehicle industry has risen the fastest is China. As of now, BYD is the leader in electric vehicle sales in China, surpassing the Volkswagen Group to become the sales champion in the Chinese car market in 2023. At the end of 2023, BYD's sales even temporarily exceeded those of Tesla, the leader in electric vehicles. However, sales figures alone do not tell the whole story. Although BYD appears to be thriving, its business strategy has resulted in very limited profitability. This paper uses a case study approach to explore the development history of BYD, analyzing how it transformed from a company primarily engaged in the manufacture and assembly of consumer batteries and mobile phone components into a player in the automotive industry, ultimately becoming an electric vehicle manufacturer. The study divides BYD's development history into three stages: the consumer battery and early automotive period （1995-2008）, the emergence of electric vehicles and the growth of fuel vehicles period （2009-2015）, and the mass market and ecosystem period （2019-present）. By analyzing the transformation motives and business strategies of each period, the study integrates the business models of these periods and summarizes the phase achievements BYD reached in each period. By analyzing the transformation motives, resources and capabilities, and business strategies during different periods, we can integrate the business models of each period and summarize the performance achieved by BYD in each stage. First Stage: BYD started with consumer batteries, accumulating lithium battery manufacturing technology and capital. Through acquisitions, it entered the automotive industry, aiming to make electric vehicles its ultimate product, believing in the integration of batteries and automobiles. Second Stage: Before the electric vehicle technology matured and became commercialized, BYD used its cash cow businesses, such as fuel vehicles and mobile phone components manufacturing and assembly, to continuously support electric vehicle research and development. They capitalized on the Chinese government's designation of the electric vehicle industry as a national strategic industry, gaining incentives and subsidies. Third Stage: With the gradual saturation of domestic demand for fuel vehicles in China, Tesla's proof of the commercial feasibility of electric vehicles, and its entry into the Chinese market, BYD's electric vehicle business began to thrive. They aggressively vertically integrated their supply chain to ensure cost advantages and secure the supply of key upstream and midstream raw materials. Simultaneously, BYD expanded internationally, establishing overseas factories to rapidly replicate production techniques and swiftly increase automobile production capacity to meet global market demand. The study further analyzes BYD's disruptive and expansion strategies within its ecosystem, finally presenting BYD's future challenges and potential risks. In recent years, BYD's domestic market has become saturated, and its cost advantage strategy has squeezed its profitability. Internationally, it has been affected by a new wave of the US-China trade war, while European countries have erected high barriers against electric vehicle subsidies. This study suggests that BYD can "exchange technology for market" in Europe and the United States by seeking business partners in these local markets. Through technology guidance or licensing, BYD can produce locally to avoid triggering trade barriers. Additionally, BYD should actively develop and expand into non-European and non-American markets to address domestic overcapacity issues.