Conversion vehicle from gasoline-based (international combustion engine) to electric or battery-based is part of the circular economy. Therefore, the Indonesian government has targeted the numbers of conversion electric vehicles as one of the initiatives to accelerate emissions reduction. However, there are limited businesses that have succeeded in running the conversion business.
The objective of the research is to find the strategy and effective business models for electric vehicle (EV) conversion companies to be implemented. The paper will be supported by literature review and relevant research in electric vehicle and conversion business. The big picture about EV conversion business is a certified business to change ICE (gasoline) vehicle to be electric vehicle. The target market is ICE (Internal COmbustion Engine) motorcycle owners who would like to change their vehicles to be EV.
This paper is used to help business owners to build an effective business model and strategy despite the challenges. The research methodology focuses on three areas. The first step is identifying the challenges and the current strategy of one of the certified conversion companies in Bali. The second step is analyzing internal and external factor using social network analysis, PESTLE, SWOT, TOWS, and VRIO. The third step is formulating the business strategy by using business model canvas (BMC).
The success of the conversion business in Bali will support the Bali government program to reduce emissions.