Comparison between old and new one-for-one scheme

In the budget speech on February 28, 2024, the Hong Kong government announced that it would extend the "one-to-one" electric private car replacement program for two years , but made the following three adjustments:

• The amount of concession will be reduced by 40%. The maximum first registration tax exemption amount under the "One-for-One" program for electric private cars will be reduced from HK$287,500 to HK$172,500.

• The maximum exemption limit for general electric private cars is reduced from HK$97,500 to HK$58,500.

• Electric vehicles with a pre-tax price exceeding HK$500,000 will not receive any tax exemptions

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