Bastille's Story: The Bright Future of Electric Vehicles in Hong Kong

The proportion of electric vehicles in Hong Kong has been on the rise in recent years. According to the Transport Department's data, the cumulative total number of new registered private cars in Hong Kong has reached 34,540 from January to September, with electric vehicles accounting for 71% (24,536 cars in total). The world's largest manufacturer of rechargeable electric vehicles, BYD (01211), has continued to hold the title of top-selling electric vehicle brand with the registration of 920 new cars. Mr. Liu Xueliang, the General Manager of BYD Asia Pacific Auto Sales Division, has disclosed the company's plans during the interview with Bastille Post that not only might the automatic parking be launched next year, but also there is a chance to introduce ultra-fast charging technology in the future.

The free outdoor auto show, "BYD Hong Kong TechWeek" was held by BYD, Photo by Bastille Post

The free outdoor auto show, "BYD Hong Kong TechWeek" was held by BYD, Photo by Bastille Post

BYD's high-end brand: the YANGWANG U8, Photo by Bastille Post

At the free outdoor auto show, "BYD Hong Kong TechWeek" held earlier, the company showcased all the vehicle models available in Hong Kong, as well as its high-end brands: the YANGWANG U8 and U9, electric taxis (e6), and electric buses (B12D). Over a thousand citizens have been attracted to attend the auto show, with families being the majority. Mr. Liu pointed out that the penetration rate of electric vehicles in Hong Kong is quite high. As of now, BYD has launched eight vehicle models, with a total of nearly 20,000 delivered passenger vehicles. In the first ten months of this year, approximately 7,800 personal vehicles have been sold by BYD, with a market share of 25%.

Mr. Liu Xueliang, the General Manager of BYD Asia Pacific Auto Sales Division, Photo by Bastille Post

BYD's high-end brand: the YANGWANG U9, Photo by Bastille Post

In 2022, BYD launched its first personal vehicle, "BYD ATTO 3". Within three years, eight new energy vehicle models have been unveiled. As for the "BYD ATTO 2" released in August this year, it can be regarded as one of the most cost-effective car models in Hong Kong. In Mr. Liu's eyes, such positive results are the fruits of full interaction between BYD and Hong Kong's market. "From SUV to MPD, our entire arrangement of the vehicle models for sale has met the demands of Hong Kong citizens for electric vehicles."

Residents can enjoy a free test drive. Photo by Bastille Post

Having entered Hong Kong's market for over 10 years, BYD initially aimed to achieve its electric industry scale from the aspect of public transportation, starting with releasing buses to the market. Mr. Liu pointed out that about 90% of the electric buses on Hong Kong's roads are produced by BYD nowadays. Within 10 years, BYD has successfully fulfilled its commitment to the Hong Kong market, allowing all citizens to enjoy the top-tier technology of the brand.

Mr. Liu disclosed that no new vehicle models would be introduced to Hong Kong this year. Besides, he also mentioned that, although the automatic driving assistance technology has not yet been installed in the vehicle models sold in Hong Kong currently, he still hoped the technology can be gradually promoted next year. In his opinion, the function of automatic parking is expected to be the one with the greatest chance of realization, "since it would be relatively simple in terms of technology."

As of now, BYD has launched eight vehicle models, with a total of nearly 20,000 delivered passenger vehicles. Photo by Bastille Post

Considering that the owners of electric vehicles would often suffer from the anxiety of charging and driving range, the authority has promoted the construction of vehicle chargers. As of the end of September this year, there have been approximately 15,578 major chargers for public electric vehicles in Hong Kong. Nevertheless, such a number is far less than the one of nearly 25,000 electric vehicles. In March this year, BYD launched the "Megawatt Flash Charging" technology in the Mainland. Installed with this technology, electric vehicles only need to be charged for 5 minutes to reach a battery range of 400 kilometers. When asked whether this technology would have the possibility of being introduced to Hong Kong, Mr. Liu said that the company is studying the actual situation of the charging network in Hong Kong. Opportunities would arise in the future, but there is no specific time point of introduction yet. He also pointed out that at present, BYD has carried out communication and dialogues with the government, private enterprises, etc., to explore the space for the improvement of the development network of electric vehicles in Hong Kong.

Mr. Liu said that the company is studying the actual situation of the charging network in Hong Kong. Photo by Bastille Post

The Hong Kong government has been promoting the use of electric vehicles and providing policy facilitation, such as launching the first registration tax (FRT) concession arrangement for electric vehicles, and the "EV-charging at Home Subsidy Scheme ", etc. Mr. Liu said that the penetration rate of electric vehicles in Hong Kong has continued to rise and is now among the top in the world, with policy support. As for the driverless technology, BYD holds an open attitude. Currently, BYD has launched a driverless bus project in Singapore. Mr. Liu stated that if there are any related demands in Hong Kong in the future, the company will introduce the most advanced technical solutions.

The electric taxi (e6), and electric bus (B12D), Photo by Bastille Post

Following the announcement in the Budget that the "One-for-One Replacement" Scheme for electric vehicles will officially conclude next Tuesday (March 31), BYD (01211) launched a dedicated hotline, aiming to help citizens interested in purchasing an electric vehicle "catch the last train" before the deadline. Mr. Raymond Cheung, the Chief Operating Officer of BYD HK, stated that since the hotline's launch, the market response has been "extremely enthusiastic," adding that "our volume of inquiries and orders continues to hover at historic highs."

In an interview with Bastille Post, Mr. Cheung stated that since February 27, BYD HK has launched a "Special Hotline for Green Mobility Vehicle Purchases", offering a "one-on-one, end-to-end, and expedited" purchasing service, designed to ensure that every citizen intending to switch to an electric vehicle can successfully "catch the last train" before the scheme ends.

Mr. Raymond Cheung, the Chief Operating Officer of BYD HK, Photo source: BYD HK

The "One-for-One Replacement" Scheme for electric vehicles was officially launched in 2018 to encourage car owners to scrap their old fuel-powered private cars and purchase brand-new electric private cars. By scrapping and de-registering a qualifying old private car—and subsequently registering a brand-new electric private car under the "One-for-One Replacement" Scheme—owners are eligible for a First Registration Tax Concession of up to approximately HKD$172,500. Standard electric private cars (purchased without the "One-for-One Replacement" Scheme) are also eligible for a First Registration Tax Concession of up to HKD$58,000.

In this year's Budget, the Financial Secretary, Mr. Paul Chan, announced that the scheme would conclude on March 31, citing that the supply of electric private cars is now sufficient and prices have begun to decrease.

Following the announcement of the Budget, BYD established a dedicated team. Mr. Cheung said that the team provides a seamless, one-stop service covering the entire process: from answering customer inquiries and rapidly matching customers with ready stock vehicles—including popular models such as BYD ATTO 3, Dolphin, Seal, and Denza D9—to assisting with document preparation, expediting contract processing, and finally submitting the necessary paperwork to the Transport Department to complete vehicle registration.

Ample Stock Secured to Help Owners Beat the Scheme Deadline

Mr. Cheung stated that BYD has specifically reserved ample ready stock for Hong Kong customers—covering a wide range of popular models such as ATTO 3, Dolphin, Seal, and even the Denza D9—to ensure there are no supply shortages. Currently, most of the popular models remain in stock and are available for immediate allocation; nevertheless, availability for certain colors or configurations may be limited.

He noted that the team is going all out, aiming to help all prospective electric vehicle owners successfully "catch the last train" before the scheme deadline.

The team is going all out, aiming to help all prospective electric vehicle owners successfully "catch the last train" before the scheme deadline. Photo source: BYD HK

Although the "One-for-One Replacement" Scheme is drawing to a close, BYD HK remains highly confident in the local market for electric private vehicles. Mr. Cheung emphasized that "the inherent technical prowess of the products themselves, combined with their exceptional value for money" constitutes the cornerstone for winning consumer trust.

Recent geopolitical instability in the Middle East has led to fluctuations in international oil prices. Given Hong Kong's heavy reliance on imported energy, rising fuel costs will directly drive up operating expenses for traditional fuel-powered vehicles, which is anticipated to leverage the advantage of electric vehicles' energy costs and increase their market demand.

Premium Brand "Yangwang" Poised to Enter Hong Kong Market

BYD is currently actively preparing to introduce its high-end brand, "Yangwang" to Hong Kong, which is now in the final stages of market assessment and preparatory work. Mr. Cheung described "Yangwang" as the pinnacle of BYD's technological achievements, targeting high-end consumers who seek cutting-edge technology, ultimate performance, and a luxurious experience. In Hong Kong, its future primary competitors will be traditional European luxury automotive brands.

BYD is currently actively preparing to introduce its high-end brand, "Yangwang" to Hong Kong. Photo source: BYD HK

Mr. Cheung pointed out that within BYD's global "Going Global" strategy, Hong Kong serves as an irreplaceable "strategic springboard" and an international "super showroom". Taking the ATTO 3 as an example, its overnight success in turning the top-selling model in Hong Kong has allowed BYD to systematically replicate this winning formula in other right-hand-drive markets, significantly shortening the learning curve. The decision to introduce "Yangwang" to Hong Kong is a strategic move that sees the city's advantage in international influence, laying a solid foundation for the brand's future expansion into broader global markets.

Embracing a "Deep Localization" Strategy

Directed at the unique characteristics of the Hong Kong market, BYD has adopted a "deep localization" strategy, which not only involves far more than a simple conversion from left-hand to right-hand drive, but also encompasses a multitude of specific details. On the software front, the in-vehicle system features a traditional Chinese interface, along with authentic Cantonese voice recognition and navigation system. In terms of hardware, the vehicle's suspension system has been specially tuned to suit Hong Kong's hilly and winding road conditions. Mr. Cheung noted that the introduced models were specifically selected to ensure that their dimensions and driving range are well-suited to Hong Kong's urban environment.

Directed at the unique characteristics of the Hong Kong market, BYD has adopted a "deep localization" strategy. Photo by Bastille Post

With the number of electric vehicle owners increasing rapidly, Mr. Cheung revealed that BYD plans to establish additional repair centers to provide convenient after-sales support. Regarding pricing strategy, the group will continue to uphold its positioning of offering "exceptional value for money".

Looking ahead, the development of charging infrastructure and ecological construction remains crucial to the dissemination of electric vehicles. Mr. Cheung stated that BYD views itself as a key contributor to fostering a green mobility ecosystem in Hong Kong. The group actively collaborates with major charging service providers to ensure its vehicles are compatible with all mainstream charging standards. Furthermore, by facilitating the sharing of charging experiences within its owner community, BYD aims to help alleviate "charging anxiety" among potential buyers.

BYD actively collaborates with major charging service providers to ensure its vehicles are compatible with all mainstream charging standards. Photo by Bastille Post

BYD anticipates that in the early stages of the "One-for-One Replacement" Scheme's conclusion, the market may undergo a brief structural adjustment in sales volume. Nevertheless, Mr. Cheung also expressed unwavering confidence in the long-term future of Hong Kong's electric vehicle market. As the market returns to a competitive landscape driven primarily by product quality, safety, and value, BYD's inherent strengths are expected to become even more pronounced.