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Hong Kong is emerging as a key market and testing ground for Chinese EV makers. Here’s why
- Hongkongers shed their disdain for made-in-China EVs, while mainland carmakers use the opportunity to fine-tune their products to broaden their global appeal
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Angus Au had set his sights on a Tesla model Y. But the 27-year-old Hongkonger changed his mind after test driving the Chinese-made MG ZS electric vehicle (EV).
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He shelled out HK$250,000 (US$32,000) for his first EV after trading in his grandmother’s 20-year-old Toyota Sienta and availing of the government’s “one-for-one replacement” scheme, a subsidy for car owners to switch to these zero-emission vehicles.
“It doesn’t matter so much to me [that it is a Chinese brand],” said Au. “Even the Teslas you buy in Hong Kong are made in Shanghai. I look at the product, rather than where it comes from.”
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The market share of Chinese EV brands in Hong Kong nearly doubled to 30 per cent in June, from 16 per cent a year ago, amid an influx of carmakers from the mainland, according to London-based car distributor Inchcape, which compiled the figures based on Transport Department statistics.
A total of 31 EV models from nine Chinese companies have been approved for sale by the Transport Department as of July 19, with prices ranging from HK$160,377 for Hozon New Energy Automobile’s Neta AYA Lite five-seater SUV to HK$619,190 for the SAIC Maxus Mifa 9 Premium multipurpose vehicle (MPV).
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