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With global layout, independent new energy brands are pouring into Hong Kong

With global layout, independent new energy brands are pouring into Hong Kong缩略图

At the Hong Kong Auto Show held from June 12 to 15, many domestic brands gathered: not only 11 major mainland automakers such as BYD, GAC, Xiaopeng, Geely, Changan, and SAIC, but also more than 40 supply chain companies such as Pony.ai, CATL, and Horizon Robotics participated in the exhibition.

Industry insiders pointed out that the reason why mainland auto companies attach great importance to the Hong Kong Auto Show this year is not difficult to understand: the Hong Kong market has become an important window for observing the “going out” of China’s auto industry, and it is also a “golden springboard” for mainland domestic brands to go overseas.

Guangzhou automaker Xiangjiang showcases its “smart manufacturing” achievements

At this year’s Hong Kong Auto Show, companies from the Greater Bay Area brought particularly heavy “explosive news” to the exhibition. For example, GAC Group launched its self-developed multi-rotor flying car GOVY AirCab for the first time, and its self-built third-generation humanoid robot – GoMate also served as the “intelligent reception officer” on site. Xiaopeng Motors also brought the split flying car “Land Aircraft Carrier” and IRON humanoid robot, and Pony.ai displayed its latest seventh-generation Robotaxi model. BYD also took the opportunity to exhibit its “all belongings” as the world’s first new energy vehicle brand. In the past few years, BYD, Xiaopeng, GAC, SAIC and other automakers have accelerated the introduction of right-hand drive models in the Hong Kong market and set off a store opening frenzy. Pony.ai plans to gradually expand Robotaxi travel services to the urban area of ​​Hong Kong in the future.

Hong Kong’s electric vehicle ownership rate exceeds 12%, and car companies are increasing their investment in the “right-hand drive car” market

The reason why mainland automakers attach so much importance to the Hong Kong market is that Hong Kong has achieved remarkable results in popularizing new energy vehicles. It is reported that the number of pure electric vehicles in Hong Kong has increased eightfold from 14,000 five years ago. By the end of January 2025, the number of electric vehicles will exceed 110,000, accounting for about 12.3% of the total number of existing cars in Hong Kong.

Data from the China Association of Automobile Manufacturers shows that in May and the first five months of this year, the export of new energy vehicles has grown rapidly, becoming the main driving force for my country’s automobile exports.

Many automakers such as GAC, Xiaopeng, and Changan have stated at this year’s Auto Expo that they will use Hong Kong as a strategic fulcrum to promote the global transformation of their brands and deepen their layout in the right-hand drive market. For example, GAC Group has clearly positioned Hong Kong as a “bridgehead” and core node in its globalization strategy, and launched the “Hong Kong ACTION” plan at the Auto Expo. He Xiaopeng, chairman and CEO of Xiaopeng Motors, also pointed out that Hong Kong is not only the first stop for Xiaopeng Motors to enter the international electric vehicle market, but also a testing ground for cutting-edge technologies such as autonomous driving and intelligent interaction. “Hong Kong is an ideal window for us to observe the trends of the international new energy market, and it is also an important ‘bridge’ for the company to explore the global right-hand drive market.” A relevant person in charge of Changan Automobile stated the main purpose of entering Hong Kong.

Data from the Transport Department of the Hong Kong Special Administrative Region shows that local automobile sales data have released new consumption trends. In the “Hong Kong Electric Vehicle Brand Sales List from January to May”, brands such as BYD, Zeekr, MG, Xiaopeng, and Denza collectively ranked among the top ten.

Hong Kong becomes a “bridgehead” for going overseas

Against the backdrop of Chinese cars “going global”, Hong Kong’s value as a “bridgehead” for globalization strategy has become increasingly prominent – it is not only a “test field” for mainland new energy car companies to explore right-hand drive car markets such as the UK, Japan, and Australia, but also a core hub for mainland car companies to raise funds globally, becoming a key fulcrum for China’s automobile industry to break through the globalization.

In particular, a successful IPO will be an international recognition of the strength of Chinese electric car manufacturers and supply chains. Mainland car companies have a clear purpose in entering the Hong Kong market. Hong Kong has the advantages of an international financial and trade center, a high-standard certification mechanism and a mature consumer ecology. It is the best “international window” for displaying brands and products. Hong Kong can also give full play to its functions as a “super contact person” and “super value-added person”.

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