Tesla has found itself a strong niche market.California-based electric car builder Tesla has found a strong market in China's tony special administrative zone, Hong Kong.
Although its Model S high-end electric sedan hasn't officially gone on sale in Hong Kong, the automaker says it has received "hundreds" of orders, which would effectively double the size of the electric car market there. By contrast, Tesla remains a niche player in the U.S. against far less expensive EVs like the Nissan Leaf.
Tesla intends to put the Model S on the market in Hong Kong late this year, although it has already opened up ordering banks. It has not divulged a price for the Model S in Hong Kong, but that doesn't seem to be stopping the notoriously flashy Hong Kong buyers from placing orders.
A company official indicated that Tesla has more orders than there are EVs currently on the road in Hong Kong. According to research done by Bloomberg, there are 303 EVs currently on the road in Hong Kong.
Tesla is aiming for a big boost in sales of its only model as it expands into Europe and Asia this year.