The role of Institutions on development of EV

Institutions have the ability to impact the governance of certain countries both domestically
and abroad, which also applies to Italy. Prior to that, the most important institution involved
in EV development is the Sustainable Development Goals (SDGs), for which each country is
responsible in assessing the 2023 agenda.

Sustainable Development Goals (SDGs)

Source from Internet (2023)

Sustainable development goals can be addressed as an international community that was

established in 2015 to accomplish or serve the UN 2023 Agenda related to sustainable
development. The main purpose is to ensure that its members are calling for action regarding
people, planet, prosperity, peace, and partnership, which have been recognized as five
principles to attain the 17 goals in the 2023 Agenda by eliminating poverty, ensuring human
rights, finding sustainable and inclusive development solutions, and generally making sure
that no one is left behind.

However, unanticipated events such as the COVID-19 pandemic, global supply chain
disruptions, and the Russian-Ukraine war have disrupted these aims, causing governments to
prioritize economic recovery and slowing progress on sustainable development
internationally and in the EU. Hereby, the EU pursues becoming a leading global partner for
the SDGs and has managed to implement a new strategy called Global Gateway, interlinked,
notably in a wide range of investments from transport to health and education.

Hence, most EU countries also shifted their governments towards a greener transition. For
example, Italy’s recovery and resilience plan also mentions improving their water and waste
management, sustainable mobility, and energy efficiency of buildings, which include
increasing recycling rates, increased competition in the electric market, deploying charging
points for electric vehicles and others. Furthermore, strengthening EV infrastructure, backed
by the adoption of incentives known as "Eco-bonus," can provide Energica Motor with a
significant boost in terms of corporate sales and growth. Last but not least, this technique
encouraged the company to grow its operations and remain competitive in the sector or
industry.

The role of Culture on development of EV

To learn more about culture, it is important to understand culture differences among

countries. In this case, Hofstede culture of theory dimension play important part to
distinguish distinct national culture, culture aspects and their influences through six
categories such as power distance, Individualism Vs Collectivism, uncertainty avoidance,
Masculinity Vs Femininity, Long Vs Short-term Orientation, and Indulgence Vs Restraint.
Uncertainty Avoidance

Source from Hofstede Insight (2023)

In this case, Italy earns a high score for uncertainty avoidance, which is 75. This suggests
most Italians feel threatened by ambiguous or unknown situations. They prefer to reduce
uncertainty through rules, regulations, laws, and behavioral norms. This significantly shows
that Italians have become hostile towards EVs since the government has failed to provide
transparent information on EVs and their charging point development, making them feel
insecure about this kind of adaptation and EV purchasing intention.

Despite that, in 2020, Energica Motor managed to experience global sales growth of 91%.
This is since the company managed to establish a large network of dealers worldwide, and
efficient management that managed to capture sustainability trends with masterfully
manufactured. This demonstrates that EV sales have gradually increased, but Italy is not fully
equipped for EVs because they consume more time and demand significant investments.

The role of ethics on development on EV

Each nation handles their ethical and value distinctions seriously, which might effect their
working culture, social culture, and others. As a result, businesses must understand and
observe their surroundings to ensure that they do not cause harm or disrespect to the people.
Attention to detail, craftsmanship, and adaptability.

The most influential Italian work principles that influence the development of EVs emphasise
attention to detail, craftsmanship, and adaptability. These characteristics are critical because
they allow a corporation to engage in high-quality, visually pleasant, and technological
advancement with accuracy.

Aside from that, they provide a variety of models with varied features and specifications to
cater to a wide range of consumer tastes and needs. This adaptability is reflected in their
diversity, which includes models suitable for both city commuting and high-performance
riding. This ethics is important in most industries in Italy, including apparel, jewelry, and
others, because it increases competition and allows products to progress into better ones in
the future.

These principles enable corporations to achieve high-quality, visually pleasing, and

technologically advanced EVs. Italian manufacturers provide a diverse range of EV models
with varied features and specifications to cater to different consumer preferences and needs.
This adaptability is reflected in the availability of EVs suitable for both city commuting and
high-performance riding. These work principles are important across various industries in
Italy, including apparel, jewelry, and the EV manufacturer Energica Motors, as they foster
competition and drive the progression of products.
Executive Summary

This scholarly paper delves into the competitiveness of the EV industry, which has gained
significant momentum due to the growing environmental consciousness among consumers
and the desire to reduce pollution. The widespread adoption of EVs has prompted a thorough
examination of the industry, allowing for a deeper understanding of its dynamics. This
analysis focuses on Energica Motor as a case study, applying Michael Porter's diamond
theory to explore the company's business operations and the factors that have contributed to
its success in this competitive landscape.

Porter's Diamond theory offers a valuable framework for businesses to identify and maximize
their competitive advantages. By analyzing factors such as firm strategy, structure, rivalry,
factor conditions, and related and supporting industries, companies can gain a deeper
understanding of the market environment and develop effective strategies to enhance their
market position, resource allocation, and overall competitiveness. This paper demonstrates
the significance of Porter's Diamond theory, particularly in the context of Energica Motor, a
leading player in the local and national markets.