Q1. This Question relates to External Environment Analysis and Intellectual Property. "The popularity of electric cars in the UK has shot up over the last few years, with more than 180,000 plug-in vehicles on the road, compared with just 3,500 in 2013. This huge increase in electric cars has come about because of a greater level of choice for drivers, a shift in the public's attitude towards electric cars and a constantly improving public recharging network. Additionally, The UK government has been providing grants of up to 2,500 for electric vehicles on cars priced under 35,000 since March 2021. The number of electric car models priced under 35,000 has increased by almost 50% since 2019 and more than half the models currently on the market will still be eligible for the grant. Government measures to encourage people to switch to electric vehicles are also working, with nearly 11% of new cars sold in 2020 having a plug. This was up from just over 3% in 2019 and battery electric car sales almost tripled over that same period. The plug-in vehicle grant scheme was renewed last year, with 582 million of funding intended to last until 2022 to 2023." (Adapted from The Department of Transport UK, 2021) You are part of a management team employed by a major automotive manufacturer to carry out a strategic analysis prior to launching its new range of small plug-in electric vehicle which will retail under 35,000. A key feature of the car will be an exclusive battery that distinguishes itself from other electric cars. Your role also includes advising the company on Intellectual Property practices. APPROVED Q1 continued (0) Conduct a PEST analysis to discuss key elements in the external/macro environment which will affect the company's new product. List all assumptions that you make. Additionally, you are required to propose a potential mission statement for the company. [13 marks] (11) Critically discuss the four main types of intellectual property protection that the start-up should consider for this product to be commercialised. (12 marks] [Total 25 marks]