Govt Urged To Ease Term For Electric Car Rebates

"); jQuery("#212 h3").html("

Related News Programmes

"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "http://newsstatic.rthk.hk/audios/mfile_1384076_1_20180305172138.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'http://news.rthk.hk/rthk/en/component/k2/1384076-20180305.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','http://news.rthk.hk/rthk/en/component/k2/1384076-20180305.htm', 'DCS.dcsqry', '' ); } } }); }); });

2018-03-05 HKT 18:00

Share this story

facebook

  • Govt urged to ease term for electric car rebates

The government's been urged to give more leeway for car owners so that more of them could enjoy a proposed tax rebate when they replace their old cars with new electric vehicles.

The so-called "replacement scheme" – which offers a rebate of up to HK$250,000 – aims to encourage more car owners to switch to using cleaner electric cars. But it applies only if the cars are six years old and the applicants have owned the car for at least three years without interruption.

Edwin Lee, the vice-chairman of Charged Hong Kong, a group that promotes the use of electric cars, said the requirements have barred many car owners from enjoying the rebate. He said the government should relax the three-year car ownership period to just twelve months.

"We simply do not understand such a restriction exists. The main idea of the "replacement scheme" is that there will not be an increase in the number of of private cars on the road, and at the same time switch out a polluting internal combustion vehicle and switch in a zero emission electric vehicle," he said.

"So we want as many car owners and cars eligible as possible. We would like the government to reconsider these restrictions in particular the three-year ownership requirement," he said.

Meanwhile, Lee also urged the government to raise the HK$97,500 cap on the first registration tax rebate for electric cars, saying the current incentive has proved unattractive to potential buyers.

He said electric car sales have dropped significantly since the government introduced the cap last year, and said it is disappointing that the government didn't increase the amount in the latest budget.

Civic Party lawmaker Tanya Chan also questioned if the government is really determined to promote the use of electric cars in the city, saying the budget measures seemed to show otherwise.

She also called on the government to install faster chargers for electric cars at public car parks.

RECENT NEWS

Circle CEO Says China Could Launch Yuan Stablecoin In 3 To 5 Years As Trade Grows

Circle CEO Jeremy Allaire predicts that China could roll out a yuan stablecoin within three to five years to expand the... Read more

Naver IPO Timeline Set As Dunamu Merger Targets Nasdaq Debut

Preparations for a Naver IPO are underway following an agreement between Naver Financial and cryptocurrency exchange op... Read more

TransUnion Urges Lenders To Rethink Credit Risk For Gig Workers In Hong Kong

TransUnion is urging lenders to update their risk assessment models, revealing that gig workers in Hong Kong exhibit st... Read more

Citi And Endowus Roll Out HK$4,000 Wealth-Linked Credit Card Campaign

Citi and digital wealth platform Endowus have launched a joint credit card promotion in Hong Kong, expanding the Citi E... Read more

Aspire Secures SFC License In Hong Kong To Launch SME Yield Product

Singapore-headquartered fintech Aspire has secured three financial licenses from the Securities and Futures Commission ... Read more

Why Stablecoins May Become The Backbone Of 24/7 Global Trade

Stablecoin transaction volumes surged 72% in 2025, reaching a record US$33 trillion and signalling growing institutiona... Read more