Hong Kong wants to make buying electric vehicles cheaper, unveiling a tax benefit that’s set to boost demand for Teslas and other green vehicles from carmakers such as BMW. EV buyers who trade in an eligible gas guzzler will get a waiver of as much as HK$250,000 ($32,000) on the first registration tax, the government said Wednesday when delivering its annual budget. An existing waiver of up to HK$97,500 for new EV purchases will also remain in place. Hong Kong is trying to curb traffic congestion while taking into account rising demand for greener cars, saying in a statement that it “hopes to encourage car owners to go for electric vehicles.”
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