Bastille's Report: 300 EVs Dispatched as Demand Soars — Richburg Eyes Optimistic Future

Hong Kong's "One-for-One Replacement" Scheme will officially end on March 31st, entering its final countdown. Major car dealers are actively launching new stock and promotions to seize market share. In an interview with Bastille Post, Mr. Eric Wong, Chairman and CEO of Richburg Corporation, stated that their recent special sale at Laguna Plaza has received over 100 orders in the past two days, double the usual number, reflecting a surge in market demand before the scheme's end.

Mr. Eric Wong, Chairman and CEO of Richburg Corporation, Photo by Bastille Post

Dispatched 300 EVs to Meet Rising Demand

Mr. Wong said that the participating vehicle models in the special sale range in price from HKD$127,000 to over HKD$270,000. "In the past day or two, we've received over 100 orders—around 30 per day—double our usual volume." he said.

Richburg's special sale at Laguna Plaza, Photo source: Richburg

March is traditionally a slow month for car sales, he explained, but the impending expiry of the "One-for-One Replacement" Scheme, combined with Hong Kong consumers' last-minute buying habits, has sparked a surge in demand ahead of the scheme deadline. "The people in Hong Kong lead busy lives and tend to close deals quickly. Therefore, we prepared 300 vehicles for these last-minute buyers, to make sure they can complete their vehicle registration procedures before March 31."

Oil Price Surge Drives EV Demand, Optimistic Outlook Ahead

Mr. Wong is optimistic about the market outlook. Regarding the increased acceptance of electric vehicles, he believes it's driven by multiple factors: "Fuel prices have risen to over HKD$30 per litre, and could even approach HKD$40," he said, "Add in geopolitical tensions and the fact that tax incentives expire in just five days—people are seizing the moment to buy electric vehicles."

As the Hong Kong agent for GAC AION and SAIC MG, Mr. Wong pointed out that both brands have showcased clear advantages in the final stages of the "One-for-One Replacement" Scheme. "Both brands have received strong state support and have fully supported Hong Kong's transition to the new energy vehicles market. Thus, in the final stages of the scheme, their supply has been very active, and we have done our best to meet market demand."

Mr. Wong admitted he was initially pessimistic about the post-scheme market, but his view has since turned optimistic Photo by Bastille Post

Mr. Wong admitted he was initially pessimistic about the post-scheme market, but his view has since turned optimistic. Even with the expiry of tax incentives, he believes persistently high fuel prices will steer buyers toward affordable electric vehicles with lower tax burdens. "Hong Kong's gasoline prices are already among the highest in the world," he said. "The high fuel costs will drive more consumers to switch to electric vehicles."

High Cost-Performance and Hybrid Vehicles in Focus

When asked about the follow-up measures after the "One-for-One Replacement" Scheme ends, Mr. Wong stated that they will focus on both product and pricing: "We will continue to introduce vehicles with higher cost-performance ratios and reasonable prices, enabling customers to have a lower barrier to use electric vehicles even without tax incentives." Furthermore, Richburg plans to expand the introduction of hybrid vehicles. "Some customers may not have sufficient charging facilities," he noted, "Hybrids offer the flexibility of both refueling and charging, better meeting the actual needs of Hong Kong users."

Going forward, Richburg will focus on three pillars: high cost-performance, competitive pricing, and ready availability, to solidify its foothold in Hong Kong's electric vehicle market. Photo source: Richburg

Mr. Wong believes that Hong Kong's charging facilities are expanding rapidly under government promotion. Considering the city's population density, the progress so far has been ideal, with a significant increase in the popularity of electric vehicles. During the sales process, Richburg will proactively share charging facilities location and pricing information with customers and work with partner merchants to offer more competitive charging prices, helping customers solve practical usage problems.

He emphasized that the electric vehicle market is changing rapidly, and the ability to shorten delivery time and provide immediate availability will be key to capturing market share. Going forward, Richburg will focus on three pillars: high cost-performance, competitive pricing, and ready availability, to solidify its foothold in Hong Kong's electric vehicle market.

James Cook got a new contract last year and backed it up by leading the NFL is rushing.

Now, he’s underpaid.

The Buffalo Bills gave Cook a $46 million, four-year deal that’s a bargain compared to the money teams handed out to running backs this month.

He’s not complaining. At least, not publicly.

“Just keep growing, just keep elevating my game, be the best version of me,” Cook said on the AP’s “On Football” podcast. “Each and every day I step on the field, sky’s the limit.”

Jahmyr Gibbs became the highest-paid running back in NFL history when the Detroit Lions signed him to a $67.5 million, three-year contract with $51.5 million guaranteed and an average annual salary of $22.5 million.

Bijan Robinson received a $66.75 million, three-year deal from the Atlanta Falcons with $51.6 million guaranteed, and an average annual salary of $22.25 million.

The Indianapolis Colts gave Jonathan Taylor a $44 million, two-year deal.

Those contracts set a new bar for running backs, surpassing Saquon Barkley ($20.6 million annually) and Christian McCaffrey ($19 million annually).

Still, running backs are underpaid compared to wide receivers. Twenty-five receivers are making more money per season than Gibbs and Robinson. That includes Robinson’s teammate, Drake London. Robinson led the NFL last year in scrimmage yards with 2,298. London was 50th with 919 yards. But he’s making $13 million more per season.

After the season, running backs could make this an issue like they did a few years ago when they met virtually to discuss their contracts.

For now, it’s all business.

Cook is focused on trying to help the Bills get to an elusive Super Bowl victory.

Led by Josh Allen, Buffalo has won a playoff game in each of the past six seasons but hasn’t made it past the AFC championship game.

“We don’t have to do nothing but keep being us man, and just get over that hump,” Cook said. “The ultimate goal is to win the Super Bowl, but you got to take day by day and step by step to get there. It ain’t gonna be easy. So we know that and each and every day, each and every week we step on the field, we’re trying to put our best foot forward to win.”

A frustrating loss to Denver in overtime in the divisional round last season cost coach Sean McDermott his job. Offensive coordinator Joe Brady was promoted to take his place so Allen, Cook and Co. will run the same system.

“Joe is going to be Joe,” Cook said. “He’s gonna let us be, let us have fun, but also be business as usual. So, I don’t think nothing changed, man. It’s just the same, it’s just us, man. But we got to do the little things different to get over that hump. And, I mean, we’ve been doing it, we’ve been working our tail off, and it’s going to show on Sundays.”

Cook ran for a career-best 1,621 yards and 12 touchdowns last season, earning his third straight Pro Bowl appearance and making the second team AP All-Pro team.

See AP’s full NFL coverage here

Buffalo Bills running back James Cook III runs up field during the first half of a preseason NFL football game against the Carolina Panthers, Saturday, Aug. 15, 2026, in Orchard Park, N.Y. (AP Photo/Adrian Kraus)

Buffalo Bills running back James Cook III stands on the sideline during the first half of a preseason NFL football game against the Carolina Panthers, Saturday, Aug. 15, 2026, in Orchard Park, N.Y. (AP Photo/Adrian Kraus)