Tesla to be knocked by Hong Kong EV tax changes
The Hong Kong government has announced that it will end full exemptions from first registration tax on electric cars in the region. Financial Secretary Paul Chan Mo-po announced that discounts on the tax would be capped at HKD97,500, increasing the price of the Tesla Model S by over HKD300,000 ($12,564). The tax will have a particular impact on Tesla, which has an 80% share of the EV market in Hong Kong. As of January 2017, 7,434 electric vehicles were registered in Hong Kong, compared to 100 at the end of 2010.
Government ends full exemptions from first registration tax on electric cars, in a move decried by concern groups as a setback for the growth of clean energy