Tesla Has a New 50-Stall Charging Station in Hong Kong
(Bloomberg) -- Tesla Inc. is beefing up its vehicle charging infrastructure in Hong Kong to help lure back customers after an end to the city's tax breaks caused sales to plunge.
The two-level, 50-stall Destination Charging facility in Kowloon Bay can provide full charge to a car battery in a few hours, according to a company spokeswoman in Hong Kong. It takes as long as 10 hours at Tesla's Destination Charging sites to top up juice in the cells, whereas it takes about 90 minutes at Supercharger stations, with the time depending on battery conditions.
Destination charging facilities are ideal for people working, living or shopping in the area, according to the spokeswoman. Superchargers, an option while on the road, can charge 50 percent of the battery in around 20 minutes, she added.
The Palo Alto, California-based carmaker believes charging stations are key to boosting sales of electric vehicles, and the backbone has been a crucial reason for its gains in mainland China, where it hasn't received any subsidies. Since Hong Kong's administration scrapped tax incentives for private-use EVs in April 2017, Tesla has managed to sell just 40 cars through February, compared with 2,939 sold in March last year, according to the South China Morning Post.
“As part of Tesla's commitment to Hong Kong, we continue to expand charging footprint all over Hong Kong, Kowloon and New Territories,” the carmaker said in an email Monday, adding the recently opened facility would be the biggest destination charging location in Asia Pacific. Tesla already has 92 superchargers at 21 supercharger facilities in Hong Kong.
Largest Car Market Risks Historic Drop as Chinese Buyers Waver
After struggling to fix manufacturing problems at its sole auto factory in Fremont, California, Tesla has started the process of building a plant in China, the world's biggest market for electric vehicles. The unprofitable carmaker is in the process of procuring land in Shanghai for its first manufacturing facility outside the U.S., pushing ahead with its plans after months of tumult involving Chief Executive Officer Elon Musk.
In mainland China, Tesla now has more than 1,300 superchargers and 2,000 destination charging posts in more than 170 cities.
To contact Bloomberg News staff for this story: Yan Zhang in Beijing at yzhang1044@bloomberg.net
To contact the editors responsible for this story: Anand Krishnamoorthy at anandk@bloomberg.net, Sam Nagarajan
©2018 Bloomberg L.P.
With assistance from Editorial Board
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.