German Automakers Hope To Derail Tesla’s Dominance In Hong Kong
German automakers have taken notice of Tesla’s role as leader in the electric vehicle space in Hong Kong.
BMW, Volkswagen Group and Mercedes-Benz are no longer willing to let Tesla roll on in Hong Kong and are now ready to go on the offensive.
As South China Morning Post reports:
“German Consul General Nikolaus Graf Lambsdorff said “e-mobility”, whether in full electric form or its hybrid cousin, should be the “normal way of transportation” in Hong Kong and hoped German marques could offer new technologies and more choice for drivers.”
“In the end it should be the consumer that should decide who is successful in the market and who is not. But the government has to set the right framework,” Lambsdorff said. “It’s happening. Maybe a bit slow, but Hong Kong is moving in the right direction.”
“You can already buy electrically-driven BMWs … Volkswagens. They will expand these [offerings] to consumers.”
There’s interest in Hong Kong due to rapidly growing sales of electric cars there:
“The number of electric vehicles on the streets of Hong Kong has grown almost 60-fold since 2010 from less than 100 to over 5,800 as of this July.”
But one automakers controls 80% of that market and that automaker is Tesla, despite premium pricing on its cars. That’s why the Germans want in. They want to tone down Tesla’s dominance and they know that their offerings, which are often in the premium space, will find eager buyers in Hong Kong.
Source: South China Morning Post