European automakers fight to end Tesla’s dominance in Hong Kong’s EV market
The number of electric vehicles on the streets of Hong Kong has reached 5,800, with almost 80% of these vehicles being Teslas. German automakers are now looking to change the current status quo, promoting German marques which they believe can offer more choice and technology to Hong Kong drivers. Kevin Coon, vice-president of BMW Group in Hong Kong, is calling for greater tax concessions, while the European Chamber of Commerce Automotive Council has written to the Environmental Protection Department to lobby for waivers for European plug-in hybrid vehicles. However, Steve Man, who heads Asia research on the car market for Bloomberg Intelligence, believes German automakers need to make financing plans attractive to Asian buyers, which would in turn force Tesla to lower prices in the face of greater European competition.

Consul General Nikolaus Graf Lambsdorff says government has to “set the right framework” for development of the industry