Mechanism of value co-creation in new product development – the case of China's electric vehicle industry

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This research aims to explore the rapid development of Chinese electric vehicles (EVs) within the context of a technological paradigm shift. Based on the value co-creation (VCC) theoretical framework, this study focuses on the buyer-supplier relationship. We have conducted four in-depth case studies, comprising two buyers and two tier-one suppliers. Our findings confirm that efficient engagement platforms constitute the central element of the VCC mechanism, when buyers and suppliers work closely for the quick design and manufacture of EVs. Several additional findings further reveal the dynamics of Chinese EV companies, including buyer-consumer value co-creation (lifestyle products and services), buyer-other stakeholders value co-creation (for example batteries as a service, BaaS). Furthermore, buyer-buyer value co-creation is also observed (such as mobility as service, MaaS). The above findings drive us to propose an upgraded VCC framework. Copyright © 2024 Inderscience Enterprises Ltd.