As several Chinese mainland electric-vehicle manufacturers have set up or expanded operations in Hong Kong, industry players said that the city can be a springboard for their overseas expansion.
The latest move came from Guangzhou-based GAC Motor, which opened its second Hong Kong showroom trading as GAC Motor Aion in Wan Chai on Thursday. GAC opened its first showroom in Kowloon Bay in January, and plans further openings in Sha Tin, Tsim Sha Tsui, and Yuen Long, from June.
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We plan to further leverage Hong Kong as our springboard for overseas sales this year.
Wei Haigang, general manager of GAC International, a maker of electric vehicles
“Hong Kong is our key market at the beginning of our global expansion,” said Wei Haigang, general manager of GAC International. “We plan to further leverage Hong Kong as our springboard for overseas sales this year.” GAC expects to raise its wholesale volume of new energy vehicles in Hong Kong to 4,000 this year.
Another new energy carmaker, Neta Auto, opened its first Hong Kong store on May 24. Zhou Jiang, vice-president of Neta Auto and president of its overseas business department, said at the opening ceremony that the firm plans to establish its global headquarters at Hong Kong Science Park in Pak Shek Kok and will invest 3.2 billion yuan ($442.2 million) in building a research and big data center of over 40,000 square feet (3,716 sq meters) in the next five years.
The firm said that its Hong Kong and Shanghai bases will spearhead its overseas expansion.
Another one of the mainland’s leading EV makers XPeng said it regards Hong Kong as “an important strategic location and bridge” to the international market. The company opened its first showroom in the city on May 17.
Brian Gu Hongdi, vice-chairman and president of XPeng, said that with Hong Kong’s help, the company will continue to expand into Southeast Asia.
He lauded the attractive preferential policies available for EV makers in Hong Kong.
The Hong Kong Special Administrative Region government is pressing ahead with the adoption of new energy vehicles as part of a broader push to achieve decarbonization goals. As of the end of March, 307 EV models from 16 economies had been approved in Hong Kong.
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The number of newly registered private cars in February was 4,430, with EVs accounting for 78.4 percent of that figure, according to the Hong Kong Transport Department.
Nations in Southeast Asia have also launched new policies in a bid to stimulate the new energy vehicle market.
In 2025, the EV adoption rate —the percentage of EV sales out of all car sales — is forecast to exceed 10 percent in countries of the Association of Southeast Asian Nations, and the region will be a major overseas investment destination for Chinese auto manufacturers, according to professional services network Deloitte.
