The cost of a Tesla is about to rocket in Hong Kong

HONG KONG (March 31): 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 Inc. Model S, capitalizing on a law exempting electric vehicles from a tax on the purchase price that can reach 115%.

Now Zhang, 45, is so hooked on the Tesla he doesn’t pay attention to the rest of his luxury fleet.

---

Related Stories

• Should SpaceX be valued at US$2 trillion in June IPO?
• Is Elon Musk’s gigantic Terafab just a pie in the sky?
• Hong Kong’s identity quandary

---