Many companies enter a market through a joint venture, as mentioned as an entry strategy in the textbook. I found a youtube video about the Joint Venture between Volvo and Vattenfall (one of Europe’s top electric companies). They have come together to produce a Plug In Hybrid for the market in 2012. They are combining their techniques to develop a hybrid vehicle that can be charged through a standard wall socket.
The video mentions how each is working together to share the R&D expenses to develop the product more efficiently and quicker. The car expertise of Volvo and electric knowledge of Vattenfall will come together to form a new product. Vattenfall states that they are taking the motor vehicles to the next level by working with Volvo on this new technique.
The video goes on to show details on the car and how the electricity will work. The main point here shows that both companies have the same vision: safe and green products. It is important to get into a Joint Venture with another company that compliments yours and is heading in the same direction.
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