It was little more than a decade ago, in 2010, when the first Tesla Roadster was delivered to Hong Kong customers. Today's Model Y unveiling event, marks an important milestone for Tesla Hong Kong as it has have launched the fifth Model after entering the Hong Kong market for 11 years.
- 2010 Roadster Delivery
- 2014 Model S Delivery
- 2017 Model X Delivery
- 2019 Model 3 Delivery
- 2021 Model Y Delivery
Similar to previous unveiling events, Tesla has chosen another unique location to show off its new vehicle. The venue is called Freespace, located inside the Art Park at the West Kowloon Cultural District. The location has a magnificent view overlooking the Victoria Harbour. The long-awaited event showcases all five "Really S3XY" models (Really = Roadster) giving attendees a brief history and progress of the company. Although local COVID cases have been down to zero for many weeks, Tesla has scheduled different private viewing sessions with limited attendees for customers to see the Model Y in person while keeping social distance.
Unlike previous unveilings, where the vehicles were shipped from Fremont or UK (RHD Roadster), it is the first time that all three versions of the RHD Model Y on display came directly from Giga Shanghai. Even the first few batches of the Model 3 delivered in 2019/20 came from the US. It was not until the second half of 2020 that Tesla switched over to the Giga Shanghai production line to cover the Hong Kong market. While Model S and X orders are still being shipped from Fremont.
Tesla Hong Kong has been taking orders for the Model Y through the local online configurator since early July. Customers can choose from Standard Range, Long Range, and Performance. The first batch of deliveries will be the Standard Range arriving in late September with the Long Range and Performance following later in the year or in early 2022.
I imagine the global chip shortage would be one of the causes for such spread on delivery dates. Mirroring the China-made Model 3 battery specs, the Model Y will likely have the less expensive LFP (CATL) in the Standard Range model while the Long Range and Performance model will probably come with a newer chemistry NMCA (LG) for its density characteristics.
The price range is quite attractive, especially with the incentive from the waiver of the first registration tax amount to $12,538 (USD) for any EV purchase and for those who trade up with their old vehicle (that has been on the road 6 years or more and has been the owner of the vehicle for the past 18 months) to the junkyard will receive an additional $19,230 tax waiver for any new EV.
Customers who are eligible to take advantage of the full incentive amounting to $32,000 would only pay $42,282 for the standard range up to $60,000 for the performance version. We expect the Model Y to attract many current owners of compact SUVs, which are quite popular in Hong Kong. The extra storage space compared to the Model 3 and the option of seven seats (availability date unknown) will help the Model Y gain the top-selling EV title in the city.
With Tesla continuing to dominate the market share of the local EV market, it's no secret that its success has to do with its large charging network of Superchargers and destination chargers. It has built out 37 Supercharger stations throughout the city with a total of 181 stalls serving all Tesla owners apart from the original Roadster. It was also announced that Supercharging rates will be reduced to about 50% from USD0.39/kWh down to USD0.19/kWh during non-peak hours (21:01-08:00) effective tomorrow. The remaining hours will be defined as peak hours charging at the standard price.
Other manufacturers have prioritized importing competing EV models into the city prior to Model Y deliveries. Due to the fact they are based on traditional dealership business models, rather than investing and owning their charging network, the majority of them have teamed up with local charging providers to build out public charging networks for their EV customers' needs, which, in turn, does save them on large capital expenditures but may lack the flexibility of owning a network tailored to serve customer needs.
The intention of Elon Musk opening Tesla's Supercharger network to other EV manufacturers should bring opportunities to other local EV dealers while at the same time helping with Tesla's mission to accelerate the world's transition to sustainable energy.
Check out the extensive gallery from the event below. Once you've finished reading and checking out the photos, leave us a comment.