American electric car manufacturer Tesla announced the Hong Kong prices for its Model S vehicle today.
Model S cars with the 60 kilowatt-hour battery will start at HK$579,000, while models with the 85 kilowatt-hour battery will start at HK$657,000.
The Tesla Model S Performance 85, a specialised 85 kilowatt-hour vehicle with a high performance drive inverter, will start at HK$761,800.
Tesla’s Hong Kong prices are substantially cheaper than what it has announced for the mainland China market.
In late January, Tesla told expectant Chinese buyers that an 85 kilowatt-hour Model S – which is being sold as the standard in the mainland – would retail with a starting price of 734,000 yuan (HK$941,000).
Tesla has said the price difference is entirely because of the shipping costs and hefty customs duties and taxes levied by China, minus which the price of the car is exactly the same as it in the US.
"If we were to follow standard industry practice [for foreign car dealers in the mainland], we could get away with charging twice as much for the Model S in China as we do in the United States. But we're doing things differently," read an official Tesla blog post on January 22.
In Hong Kong, where luxury cars are more widespread, the Model S is retailing at a price similar to its cost in the United States (US$62,400).
“To treat our customers in Hong Kong as fairly as possible, we are offering the Model S at the same retail price that customers in the US pay, adding only unavoidable transportation costs, and applying the current market exchange rate,” said Jerome Guillen, Vice President of Tesla’s international sales and service department.
Pre-orders for the Model S in Hong Kong exceeded 300 last July - a figure that surpasses the number of electric cars currently on city streets.