Hong Konger snapping up domestically produced EV after the end of One-For-One programme? Mainland Media: Hong Kong Market is a Key Stop for Internationalization
Financial Secretary Paul Chan Mo-po announced in the 2026 Budget on February 25 that the first-registration tax concession for electric private vehicles (the “one-for-one” subsidy for electric vehicles) will not be extended after its expiration at the end of March 2026. Under this policy, car owners who scrap their old gasoline vehicles and purchase electric vehicles can receive a maximum tax reduction of HK$172,500 on their first registration.
According to a report by the mainland media outlet Jiemian News, with the “one-for-one” policy coming to an end, the Hong Kong market offers Chinese brands not only an opportunity to enter the market, but also a completely new challenge.
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