Background:

A Partner $($senior leader$)$ at your firm has been approached by a contact at a large company who is looking to your firm for advice. The Partner has asked you to take the lead on the potential engagement, and has provided you with a team of four direct reports.

As background, the Partner has provided you with the following information on the client:

Your client is an established traditional automobile manufacturer that has earned a reputation primarily manufacturing gas$-$fueled trucks and SUVs. However, with rapid technological development and an increased focus on environmental concerns, the electric vehicle $($EV$)$ market has been growing rapidly over the past few years. Leadership is concerned about an influx of new EV competitors entering their space, which could disrupt their revenue and growth prospects.

The client would like your firm$$s recommendation on how to best stay competitive. Should they attempt to enter the EV market by producing electric trucks and SUVs? Should they stay their