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Tesla’s Success Shows Hong Kong an Ideal Market for EVs

Since Tesla Motors began Hong Kong deliveries of its Model S in July 2014, drivers have already clocked up more than 10 million kilometres and saved 1.23 million litres of gas. With an ideal territory and clear government support toward sustainable transport, 2,650 electric vehicles (EVs) are now licenced and on the roads, compared to a modest 100 at the end of 2010. With this rapid rise, Tesla has dubbed Hong Kong on its way toward becoming a beacon city for electric vehicles in the region.

After seeing the potential of the market, Tesla opened its Hong Kong office with support from InvestHK in 2010. The Model S, a car that was environmentally friendly without sacrificing style or performance, was instantly popular among Hong Kong drivers. Tesla recently celebrated the anniversary of the first delivery of a Model S in Hong Kong, alongside the release of the All-Wheel-Drive Model S, currently the fastest four-door sedan in the world, able to go from 0 to 60 miles per hour in 3.2 seconds. With long-term commitment to the Hong Kong market, Tesla now has three stores, one service centre and plans to continue to expand in the city.

Tesla’s Success Shows Hong Kong an Ideal Market for EVs

Tesla’s success has been supported by the Hong Kong SAR Government’s promotion of EVs. Sending a strong signal that electric vehicles are welcome in the city, the government has created a public network of 1,200 EV chargers covering all 18 districts. Due to its size, Hong Kong has proven to be an ideal territory for Tesla cars. The Model S has a range of over 400 kilometres, and Hong Kong drivers usually only need to recharge once a week.

Tesla is making ownership of its electric vehicles as convenient as possible for drivers, building its own network of charging stations in the city. Hong Kong is currently home to the highest density of Tesla Superchargers in the world, with a station within a 20-minute drive of most Model S owners. “We build the charging network around the lifestyle of our owners,” says Isabel Fan, Country Director, Tesla Hong Kong. “On top of Supercharger Stations, Tesla works with shopping malls, hotels and clubhouses to establish mid-speed Destination Chargers. Model S owners can recharge their car while enjoying dinner or shopping at these locations and we’ll continue to expand the charging network to offer even greater convenience to customers”.

The Hong Kong SAR Government has set a target for 30 percent of privately owned cars in the city to be hybrid or electric by 2020, and has so far approved 44 EV models from seven countries. It actively promotes the adoption of electric vehicles through policy. Like other EVs, Tesla’s Model S is exempt from Hong Kong’s First Registration Tax, typically set between 40 percent and 115 percent. This means the Model S is tax free, and by announcing the extension of this waiver to 2017, the government is helping to boost the adoption of EVs generally. Tesla is also ensuring that it increases customer confidence by offering an attractive Resale Value Guarantee programme to Hong Kong customers.

Hong Kong’s unique business advantages have helped Tesla achieve its strong performance in the market. “Hong Kong could potentially be the place to showcase the success of electric vehicles to the rest of Asia,” Fan said. “It’s becoming a beacon city for the adoption of electric vehicles and we appreciate the government’s continued support towards electric vehicles.”

Tesla’s success is not only helping Hong Kong’s transition to sustainable transport, it’s also proving to other EV makers that the Hong Kong market presents an exciting future.

Friday, October 30, 2015

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