Chinese carmaker GAC doubles down on Hong Kong’s growing appetite for EVs
The state-owned carmaker is ‘very optimistic’ about sales growth in the city as it introduces an SUV model with gull-wing doors
The Hyptec HT, introduced on Tuesday at the 2024 International MotorXpo at the AsiaWorld-Expo, is touted as a mid to high-end SUV. A standard version sells for HK$268,800 (US$34,533), while a premium version with gull-wing doors costs HK$339,800.
“We’re very optimistic about the EV market in Hong Kong,” said Wang Shunsheng, deputy general manager of GAC International. “The local government has been supportive of the energy transition. As we introduce more models to Hong Kong, sales will grow year on year.”
Elliot Huang, GAC International’s manager for Asia, said the company sold 600 vehicles in Hong Kong in 2024, its first year in the city.
It expects to sell 1,000 to 2,000 cars in Hong Kong and Macau in 2025 and plans to launch at least one new model in Hong Kong next year, Wang said.
Despite tariffs imposed by the US and the European Union, GAC is rapidly expanding overseas. The company opened a factory in Malaysia in April and another in Thailand in July. Wang said GAC plans to enter Australia and New Zealand in the first half of 2025.
GAC expects to sell 12,000 cars across Asia in 2024, Huang said, adding that the bulk of its international sales come from Russia and the Middle East.
