Azure Dynamics provides electric vehicle powertrain technology to commercial truck fleets in North America and Europe. Azure Dynamics is a firm in distress and fighting for survival, having filed for bankruptcy protection in March 2012. An analysis of commercial trucking markets reviews factors driving vehicle electrification and provides a market segmentation to find segments best suited to Azure’s technology. Porter’s Five Forces methodology is used to assess target market attractiveness and to identify key success factors. An internal analysis of Azure employs a value chain and a VRIO model to identify core competencies. A strategic fit matches firm capabilities to the Differentiation Focus generic strategy. A performance assessment maps Azure’s competitive position within light-duty and medium-duty truck market segments. Strategic options emerge from this analysis and are evaluated using a Balanced Scorecard. From the analysis, the strategic option of selling Azure as a going concern is recommended. Ideally, the acquirer would be a firm with deep financial resources and a long-term vision. This option provides Azure with enough working capital to let it deal with product gross margin issues, and to eliminate use of equity financing to fund operating costs