Hong Kong environmental groups have urged the government to focus on accelerating the commercial use of electric vehicles and enhancing green infrastructure, after scrapping a tax concession scheme for private cars that has cost HK$30 billion over the past decade.
The scheme offers car owners a higher FRT concession of up to HK$172,500 (US$22,056) when they scrap and deregister an eligible older private car in exchange for a new electric vehicle (EV) purchase.
Chan said in his address that about 70 per cent of newly registered cars in Hong Kong were EVs and the need for the concession no longer existed.
“From a modest variety of electric vehicles with higher prices to a larger variety of models with heightened comfort and better features, and a steady drop in prices, we believe electric cars have become competitive enough,” he said.
In response to queries from the South China Morning Post, the Transport Department revealed that more than 128,000 vehicles had received the tax incentives since 2018.
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