Tesla CEO Elon Musk once described Hong Kong as a “beacon city for electric vehicles” due to its extremely high rate of EV adoption.

He might have as well called it a “beacon city for Tesla” since most of those vehicles were Tesla’s, which held over 80% market share in Hong Kong’s EV market.

Now that EV market consisted of literally zero new registrations last month – hardly a “beacon city” anymore.

As previously reported, Hong Kong started an aggressive phaseout of its tax exemption for electric vehicles in April.

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Hong Kong Eliminates Both Incentives And EV Sales In One Broad Stroke

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