The market share of Chinese EV brands in Hong Kong has almost doubled to 30% in June, up from 16% last year, showing a significant growth trend. With a total of 31 EV models from nine Chinese companies approved for sale, the market is becoming more competitive. Chinese brands like Xpeng and GAC Aion are making their mark in Hong Kong, eyeing expansion into international markets with similar driving systems.
Companies like BeyonCa and Hozon are also making strides in establishing themselves in Hong Kong, demonstrating the city’s potential as an incubator for EV brands with an international perspective. Despite some challenges, such as the lack of policies for autonomous driving and EV battery ecosystems, Hong Kong remains an attractive market for EV manufacturers looking to expand.
With the rise of new brands like Denza, Xpeng, and Zeekr, the car market in Hong Kong is becoming more vibrant and exciting. As the industry shifts towards EVs, the structure of the market is changing, offering opportunities for both established and emerging brands to thrive in this evolving landscape.
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