Proceedings of 2025 2nd International Conference on Applied Economics, Management Science and Social Development (AEMSS 2025)

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Hong Kong’s Financial Incentives for Electric Vehicles as a Prerequisite for Promoting Low Carbon Transition

Authors
Yeqi Lu1, 2, *
1School of Accountancy, Singapore Management University, 60 Stamford Road, Singapore, 178900, Republic of Singapore
2Lee Shau Kee School of Business and Administration, Hong Kong Metropolitan University, 30 Good Shepard Street, Kowloon, Hong Kong Special Administrative Region, China
*Corresponding author. Email: yeqi.lu.2024@smu.edu.sg
Corresponding Author
Yeqi Lu
Available Online 7 June 2025.
DOI
10.2991/978-94-6463-752-6_9How to use a DOI?
Keywords
Financial incentive; electric vehicle; government policy; low carbon transition
Abstract

Overviewing the air pollution situation in Hong Kong, energy generation and transportation are part of the contribution to the carbon emissions. Electric vehicles do not have engines and no air pollutants emissions. The promotion of electric vehicles serves as an important strategy to Hong Kong’s goal to achieve carbon neutrality by 2050. This paper illustrated the financial incentives the Hong Kong Government has launched, including First Registration Tax concessions, profits tax deduction, One-for-One Scheme, lower license fee, subsidy support for e-buses and e-taxis, free charging services at government car parks, EV-charging at home Subsidy Scheme, etc. By comparing the cost of purchasing and owning vehicles with the cost of purchasing and owning electric vehicles as well as the market performance of electric vehicles to examine whether the financial incentives in Hong Kong can promote electric vehicles and serve as a prerequisite to low carbon transition. The results show that under government support and promotion associated with preferential policy, electric vehicles will become the future trend in Hong Kong with the advantage of lower emissions, energy saving, and environmental protection.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of 2025 2nd International Conference on Applied Economics, Management Science and Social Development (AEMSS 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
7 June 2025
ISBN
978-94-6463-752-6
ISSN
2352-5428
DOI
10.2991/978-94-6463-752-6_9How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yeqi Lu
PY  - 2025
DA  - 2025/06/07
TI  - Hong Kong’s Financial Incentives for Electric Vehicles as a Prerequisite for Promoting Low Carbon Transition
BT  - Proceedings of 2025 2nd International Conference on Applied Economics, Management Science and Social Development (AEMSS 2025)
PB  - Atlantis Press
SP  - 84
EP  - 93
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-752-6_9
DO  - 10.2991/978-94-6463-752-6_9
ID  - Lu2025
ER  -