18 recommended electric vehicle models for 2023 | 1-for-1 choices (continuously updated)

The adoption of electric vehicles (EVs) is a worldwide trend, and the Hong Kong government has revealed in their "Roadmap on Popularisation of Electric Vehicles" published in 2021 that their plan is to cease registering new private petrol or hybrid cars by 2035. Additionally, they have implemented a 1-for-1 tax incentive aimed at motivating drivers to transition to electric cars, with a maximum tax incentive of HKD $287,500.

Despite Tesla's continued dominance in the EV market, conventional automakers are actively introducing their own EV models, resulting in a broad spectrum of options for EVs that cater to different drivers' financial and performance requirements. At present, the Transport Department (TD) has authorized the sale of 164 electric private car models from 16 different economies in Hong Kong.

If you're unfamiliar with EVs and unsure of how to make the best choice, Kwiksure offers a selection of 18 exceptional EV models, with options for affordable 1-for-1 replacements that cost less than HKD $500,000. Additionally, we provide comprehensive information on electric car insurance.

In the years following the 2018 introduction of the "1-for-1" program, the percentage of newly registered private electric cars in Hong Kong has significantly increased. The proportions have risen from 1.1% in 2018 to 6.3% in 2019, then to 12.4% in 2020. Following the "Roadmap on Popularisation of Electric Vehicles" announcement in 2021, the percentage further increased to 24.4% that year and surged to 52.8% in 2022.

1. Tesla Model 3

The Tesla Model 3 is the most widely chosen car model globally and also a favored option among car owners in Hong Kong, presumably due to its affordability compared to other Tesla models. It is categorized as an entry-level electric sedan and is both lighter and more economical than the Model S from the same manufacturer. The Long Range and Performance versions have an all-wheel drive and two independent motors. The vehicle features a sleek design and a 15-inch touchscreen.

2. Tesla Model Y

The Tesla Model Y is an electric crossover SUV that could be regarded as a larger and more spacious edition of the Model 3. It has an automatic driving system, a 10.2-inch touchscreen display, and a panoramic glass roof. As of now, only the five-seater variant is available in Hong Kong.

3. Nissan LEAF

The Japanese yen exchange rate has recently decreased. If you have a limited budget but still aspire to experience an electric car, Nissan's updated LEAF could be a suitable option to consider. The new vehicle will reduce its price during the first quarter of 2023. The emblematic V-Motion front grille has been revamped with a dark black hue, and electronic rearview mirrors have been incorporated to enhance the field of view. The NIM driver assistance active safety system has been enhanced, and the LDW lane departure warning has been introduced.
Meanwhile, the LEAF retains the previous 8-inch touchscreen, which supports Apple CarPlay, Android Auto, and Amazon Axela functions, and the Nissan ProPILOT driver assistance system, which offers lane-keeping assistance, front and rear vehicle distance control, and blind-spot warnings.

4. Mercedes-Benz EQA 250、350

In 2021, the entry-level Mercedes-Benz EQA 250 five-seater SUV, also known as the EQA, created a stir when pre-ordering commenced in Hong Kong. The reason behind the excitement was its 1-for-1 replacement price of slightly over HKD $300,000. The vehicle shares a chassis with the GLA from the same brand, and its body design does not adhere to a futuristic style but upholds the brand's customary luxurious aesthetics. The car provides good sound insulation and minimal tire noise while driving. The EQA 350, which is a step up and costs over HKD $400,000, has four-wheel drive and boasts superior horsepower, range, and other performance metrics.

5. Mercedes-Benz EQC

Mercedes-Benz's inaugural mass-produced electric vehicle, the EQC, is the brand's flagship electric SUV and is built on a heavily modified GLC chassis. The vehicle has a roomy interior and a sleek design. Its driving experience is reminiscent of a gasoline-powered car, with a smooth and steady ride, making it an ideal option for drivers who desire the same driving experience as conventional cars.

The EQC 4MATIC has four distinct driving modes, namely Eco, Comfort, Sport, and the customizable Individual mode. Furthermore, the EQC features a driver assistance system that generates warnings whenever necessary and autonomously responds, such as by reducing speed or keeping the car in its current lane.

6. Audi e-tron quattro

Audi's debut all-electric SUV, the e-tron, has the quattro as its entry-level model. Despite having a lower battery capacity than other models in the same series, it offers a roomy interior and dual motors with four-wheel drive capability. Although the range is approximately 300 km, it is adequate for daily commutes and weekend excursions, and once-a-week charging should be sufficient.

7. Audi RS e-tron GT

The RS e-tron GT is a more powerful iteration of the Audi e-tron quattro. The vehicle's body is designed based on aerodynamic principles, featuring a sleek design, and a distinctive rear spoiler that can expand into two different shapes depending on the driving circumstances, striking a balance between comfort and handling.

Moreover, the Audi RS e-tron GT comes with a customizable MMI touch operating system, a steering wheel that features a high-precision positioning system, a 12.3-inch Audi Virtual Cockpit digital instrument cluster, and a Matrix LED headlight system that adjusts the shape and intensity of the beam automatically, marrying practical functionality with advanced technology.

8. Porsche Taycan Turbo S 

The Porsche Taycan Turbo S is Porsche's initial all-electric sports car and another premium choice after the Audi RS e-tron GT. The vehicle's iconic design, with its flat "leaping line" shape and panoramic sunroof, is already visually appealing, while the dual motors and four-wheel drive system provide it with immense horsepower. In addition to advanced suspension systems, automatically adjusting shock absorbers, and a 12.8-inch central control display, among other sophisticated technologies, the Taycan Turbo S can maintain stability while driving at high speeds or navigating turns.

9. BMW THE i4

BMW's inaugural four-door electric Gran Coupé sports car is available in two versions: the BMW i4 eDrive40 and the BMW i4 M50. It utilizes the chassis of the gasoline-powered 4 Series Gran Coupe and features the iDrive 8.0 system. The vehicle's large curved display screen integrates a 12.3-inch instrument panel and a 14.9-inch central control screen, with a projection-style instrument panel in front as well.

The fifth-generation BMW eDrive technology epitomizes sports performance, with a maximum horsepower of 400 kW/544 hp (BMW i4 M50) and a rapid 0-100 km/h acceleration time of only 3.9 seconds. As per WLTP calculations, the range can be up to 590 km (BMW i4 eDrive40).

The i4 comes equipped with a Variable Sports Steering system that decreases the steering angle of the steering wheel but increases the steering angle of the wheels at low speeds. At high speeds, the steering angle of the steering wheel is larger, but the steering angle of the wheels is smaller. This system not only enhances safety during sharp turns but also reduces the driver action necessary when performing a three-point turn on narrow roads.

The i4 is outfitted with the "Hey BMW" voice control system, which can identify the owner's voice to execute various commands, enhancing driving convenience. Furthermore, the trunk capacity of 470L is notably capacious, adding to its allure.

10. BMW iX

The BMW iX is BMW's premier all-electric SAV (SUV). This four-door sports car boasts an imposing presence, measuring nearly five meters in length. The front of the vehicle presents the Shy Tech double kidney-shaped grille embedded within an intelligent panel design that incorporates cameras, sensors, and radar systems. The dynamic streamlined design on both sides minimizes the drag coefficient to a low of 0.25 Cd, while the body is fashioned from carbon fiber composites and aluminum alloys, making it even lighter.

The car features a distinctive hexagonal steering wheel design, complete with the iDrive 8.0 operating system and a large integrated curved screen that includes a 12.3-inch digital instrument panel and a 14.9-inch central control touch screen, heightening the iX's technological appeal. When it comes to performance, the BMW iX xDrive 40 offers a range of over 400 km and can attain 0-100 km/h in a mere 6.1 seconds. The maximum torque exceeds 64 kgm, and there are three driving modes to select from: "Efficient", "Sport", and "Personalized".

11. KIA EV6

KIA, a South Korean automaker, has unveiled its inaugural electric vehicle, the EV6, that utilizes the E-GMP platform, tailor-made for electric vehicles, and a flat battery pack that enhances cabin space. The vehicle is outfitted with an AR reality HUD head-up display and dual 12.3-inch curved touch screens.

The safety driving system's standard edition comprises intelligent cruise control, frontal collision avoidance, and lane-keeping capabilities. The Deluxe and GT-Line editions include a 360 camera, rear traffic alert, and two blind spot mirrors in their safety driving system.

Additionally, the EV6 is outfitted with a smart tailgate, a feature frequently seen in Korean vehicles. If the system detects that the owner has locked the car and walked away with the key, and after a few seconds detects that the key is still behind the vehicle, the tailgate will automatically open.

12. Kia Soul EV

The KIA Soul EV, produced in South Korea, is a compact yet tall SUV that shares the same platform as the Nio EV and Hyundai KONA. The vehicle's five-door, five-seat design incorporates high-tech features such as a 7-inch TFT-LCD electronic instrument panel, a 7-inch touch screen, a HUD projected information display screen, a panoramic sunroof, and an Auto Hold electronic handbrake. The paddles behind the hand control wheel enable adjustment of the braking energy recovery's strength, including levels 1 to 3 and pedal mode, allowing for increased recovery efficiency in addition to its deceleration function.

Moreover, the KIA Soul EV features a standard Combined Charging System (CCS), which can rapidly charge at up to 100 kW, achieving an 80% charge in approximately 45 minutes.

Lastly, the KIA Soul EV is available in 16 body colors, comprising 9 single colors and 7 dual-color combinations, which appeal greatly to younger customers.

13. Toyota bZ4X

Toyota is a major contender in the hybrid car market, and this bZ4X SUV marks the automaker's inaugural pure electric vehicle and the electric rendition of the popular gasoline-powered RAV4. The bZ4X bears several resemblances to the RAV4, from the LED headlights joined by chrome-plated trim strips to the integrated taillights and C-pillar design.

Despite the car's family SUV classification, its futuristic design boasts sleek lines and sharp angles. The bZ4X is offered in both front-wheel drive and all-wheel drive variations, with the latter featuring an x-mode driving mode that enhances the vehicle's capability to traverse diverse terrains.

Regrettably, despite being on the market for almost a year and accessible for purchase in Taiwan, Japan, and the UK, the car is solely obtainable via unofficial channels in Hong Kong.

14. BYD e6

Chinese electric vehicle leader BYD's second-generation e6 is available in both a private car version and a taxi version, comprising a streamlined, five-door, five-seat SUV design. The vehicle features a front-facing, hexagonal flat grille and an overall clean and tidy design.

The e6 highlights the company's self-developed LFP blade lithium battery module and is equipped with a 10.1-inch touch screen center console allowing for power recovery and driving safety assistance function adjustments, and this console can be rotated to a vertical position when needed. Moreover, the trunk capacity is 580 liters, accommodating sizable cargo loads.

15. BYD Atto 3

The BYD Atto 3 is a compact SUV with a sporty appearance, showcasing design features like a "dragon face" front end, sports car-style bumper, and "dragon scales" on the C-pillar. The vehicle incorporates BYD's proprietary LFP blade lithium battery module, PSM permanent magnet synchronous motor, and intelligent high/low beam system HBA.

16. Jaguar i-PACE

The Jaguar I-PACE EV is a full electric mid-size luxury SUV that boasts lavish interior amenities like leather seats, a leather-wrapped steering wheel, and a panoramic sunroof. The vehicle offers impressive performance, going from 0 to 100 km/h in a mere 4.8 seconds and having a top speed of 294 km/h. Additional features include an automatic braking system, blind spot monitoring system, and lane departure warning system, among others.

17. Volvo XC40 Recharge

The Volvo XC40 Recharge marks the automaker's inaugural pure electric production vehicle, outfitted with basic features like a panoramic electric sunroof, Google information and entertainment system, intelligent driving assistance system, AWD front and rear dual motor for pure electric power, 12.3-inch electronic instrument panel, and a 9-inch touch screen center console. The vehicle additionally offers optional steering LED headlamps and a Harman Kardon audio system.

The XC40 is designed with practicality in mind, with the rear seats capable of folding down to expand the luggage compartment space up to 1,328L. The vehicle also incorporates numerous safety features, including the Citysafety urban safety system, 360-degree parking camera, and LKA lane-keeping assistance system.

18. Hyundai IONIQ5

Hyundai's IONIQ5 is the automaker's first Crossover Sport Utility Vehicle (CUV), constructed on its proprietary E-GMP electric vehicle platform. The vehicle's exterior design exudes modern technology, featuring angular lines, a distinctive shell-shaped front grille, PIXEL dot matrix design taillights, and a captivating V-shaped design front bumper. The interior is built with modular components, ensuring a roomy and comfortable cabin.

Furthermore, the IONIQ5's body is constructed with eco-friendly and sustainable materials. The leather used for the seats, for instance, is dyed with linseed oil, a more environmentally friendly alternative, to lessen the impact on the natural environment.

The IONIQ5 incorporates Vehicle-to-Load (V2L) power supply technology, with a plug located in the rear seat that can charge any device even after the vehicle is turned off. Additional features include the iPedal, which can be operated with a single foot, a 527-liter trunk space, and the Hyundai Smart Sense safety and driving assistance system. Despite its appealing performance and price, the earliest delivery date for the vehicle is in 2024.

Recommendations for One-for-One Replacement Electric Vehicle Under $500,000

How to Select Electric Car Insurance?

As electric cars offer superior performance, the associated relative risk is also heightened, leading to insurance premiums that are 30% to 150% higher than those for gasoline cars. Consequently, drivers must exercise greater caution when purchasing insurance for electric cars and compare premiums from different insurers. When selecting insurance for electric cars, consider the following suggestions:

1. Third-party or comprehensive coverage: Despite high electric car insurance premiums (for instance, around HKD $10,000 annually for an electric car costing between HKD $200,000 and HKD $300,000), a deductible of up to HKD $30,000 in the event of an accident still applies. Drivers should therefore assess their driving habits before deciding whether to secure third-party or comprehensive coverage.

2. Opt for companies that accept driver-provided mileage: Drivers can attempt to provide the insurance company with their actual mileage. The lower the mileage, the more affordable the premium.

3. P-license drivers should wait 1-2 years before transitioning to an electric car: Insurance for P-license drivers is already costly for gasoline cars, and electric cars only increase the expense.

4. Search for companies that accept restriction clauses: Drivers can try to submit restriction clauses to the insurer, specifying that only designated drivers will operate the electric car, consequently reducing the premium.