Friday, December 05, 2025 | 03:41 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

The cost of a Tesla is about to rocket in one of its hottest markets

The loophole encouraged wealthy drivers to make Hong Kong one of Tesla's top markets

Tesla showroom
premium

A Tesla showroom in Hong Kong Bloomberg

Bruce Einhorn | Bloomberg
Calvin Zhang was getting tired of his Maserati. The Italian sports car spent too much time with the mechanic and guzzled too much gasoline.
 
That bothered the Hong Kong investment banker, who’s also a trustee for the local World Wide Fund for Nature branch. So he replaced his Maserati with a Tesla Model S, capitalising on a law exempting electric vehicles from a tax on the purchase price that can reach 115 per cent.
 
Now Zhang, 45, is so hooked on the Tesla he doesn’t pay attention to the rest of his luxury fleet. “It’s just a fun