【One-for-One Scheme Extended to 2026】2025 Tax-Free EVs Recommendation｜Latest Quota Prices｜Eligibility and Application Process

-

Tesla Model 3, known as an affordable entry-level electric sedan, is a favorite among Hong Kong car owners. The new Model 3 features slimmer headlights, a redesigned steering wheel, ambient lighting, ventilated seats, and a 15.4-inch touchscreen. Available in RWD, Long Range AWD, and Performance AWD versions in Hong Kong, the Performance version—dubbed the "performance beast"—can accelerate from 0-100 km/h in just 3.1 seconds.

Smart #3 is the brand's first SUV coupe. Only the BRABUS version is available in Hong Kong, featuring an aerodynamic design to reduce drag and improve range. Equipped with a 66 kWh battery and dual-motor AWD, it delivers 315 kW power and 543 Nm torque, accelerating from 0-100 km/h in 3.7 seconds with a 415 km range. The 150 kW DC fast charging allows 10%-80% charge in just 30 minutes.

ZEEKR X comes in RWD and AWD variants, both with a sporty design and five-seater configuration. The RWD version delivers 203 kW power and 343 Nm torque, while the AWD version provides 315 kW power and 543 Nm torque, accelerating from 0-100 km/h in 3.8 seconds. Features include a central touchscreen, wireless charging, and an electric tailgate.

Last year, AION launched the Y Plus in Hong Kong, featuring a futuristic design. This model belongs to the compact SUV category and is equipped with LED headlights with daytime running lights, 17-inch wheels, and hidden door handles.

The Y Plus offers a range of 490 km and comes with a well-equipped interior, including electric seats for the driver, a multifunction steering wheel, a 10.25-inch digital instrument panel, a 14.6-inch central touchscreen, air conditioning with PM 2.5 filtration, rear air vents, a panoramic sunroof, ambient lighting, front and rear USB ports, a 360-degree parking camera, and full airbags throughout the vehicle.

The G6 is one of Xpeng's first models launched in Hong Kong, available in standard and long-range single motor rear-wheel drive versions, with ranges of 435 km and 570 km, respectively. It is equipped with the SEPA 2.0 electric vehicle chassis platform, supporting DC fast charging with a maximum power of 280 kW, allowing the battery to be charged from 10% to 80% in just 20 minutes.

Despite the G6 being an SUV, its approximately 4.7-meter-long body features a wheelbase close to 2.9 meters, providing a spacious cabin space.

The sporty coupe SUV BMW iX2 eDrive20 M Sport Edition features a 64.7 kWh battery, dual motors, and all-wheel drive, delivering 152 kW of power and 250 Nm of torque. Its range is between 439 to 478 km, making it suitable for everyday use. The maximum DC charging power is 130 kW, allowing for 120 km of driving after just 10 minutes of charging, and it takes only 29 minutes to charge from 10% to 80%.

Simply put, to qualify for the One-for-One scheme when purchasing a new electric vehicle, you must have a private car that has been registered in Hong Kong for at least 6 years, and you must have owned it for at least 18 months before arranging for its scrapping (the requirements and process of the One-for-One scheme will be explained in detail below). If you want to buy an electric vehicle through the One-for-One scheme but do not have a qualifying old private vehicle, you can purchase a vehicle scrapping certificate from others (such as on Facebook groups) who have scrapped their old private cars, in a practice commonly called ‘buying quota’.

With the extension of the One-for-One scheme, a market for quotas continues to exist. From around HK$7,000 to HK$10,000 apiece in the middle of last year, they rapidly rose to nearly HK$20,000 apiece, doubling in price or more. However, recently they have fallen to around HK$10,000 to HK$12,000 each.

In addition to the regular ‘scrapping certificate only’ quota, there are also people selling ‘with car’ quotas, where the old private car is sold together with the quota. This is primarily in response to Tesla’s Corporate Program, which requires buyers to hand over their old private cars to Tesla for scrapping. Because the old car is sold together, the price of a ‘with car’ quota is higher than that of a ‘scrapping certificate only’ quota, ranging from approximately HK$15,000 to HK$20,000.

Although purchasing a One-for-One quota in the market and then buying a brand-new electric vehicle can result in a concession in the electric vehicle registration tax, this practice comes with its own complexities and risks. Most importantly, the new car must be registered in the name of the owner listed on the scrapping certificate and then resold to oneself, resulting in the number of owners shown on the Vehicle Registration Document becoming ‘1’. If you plan to purchase a quota to enjoy the One-for-One vehicle price, it is recommended to communicate in advance with the staff at the car dealership to facilitate the handling of related documents.

• Private car registered in Hong Kong for 6 years or more
• Continuous ownership as the registered owner for 18 months or more
• Has a valid vehicle license for at least 10 months (304 days or more) of the 12-month period immediately before cancellation of registration

Confirm Eligibility for the Scheme

The car owner should first confirm eligibility for the scheme (except for those who have purchased a One-for-One quota). If you are not sure, you can personally take the Vehicle Registration Document to the Transport Department in Admiralty, or send an email (hklo@td.gov.hk) and mail a copy of the Vehicle Registration Document for inquiry.

Arrange for Scrapping of the Vehicle

If the owner needs to scrap the old private vehicle, it must be performed by a Registered Vehicle Scrapping Company with the Environmental Protection Department. After the vehicle is scrapped, you will receive a scrapping certificate which lists the vehicle’s chassis number, license plate number, date of scrapping, information of the scrapping company, and company stamp. Subsequently, you can take the scrapping certificate to the Transport Department to cancel the registration of the ‘old private car’.

Cancel the Vehicle Registration

Within 15 days after the scrapping, bring the scrapping certificate to the Transport Department office in Admiralty or Cheung Sha Wan to cancel the vehicle registration. You will need to complete and submit the ‘Notification for Cancellation of Vehicle Registration’ (Form TD184). If you want to keep the license plate number, you will need to complete and submit the ‘Application to Transfer or Retain a Vehicle Registration Mark’ (Form TD129).

Submit Your Application

Finally, submit the application for the initial registration of the ‘replacement electric private vehicle’ and the application under the One-for-One scheme. If the ‘replacement electric private vehicle’ is purchased from a registered distributor (car dealership), the One-for-One application must be submitted by the registered distributor. The scrapping and cancellation of registration of the old car, and the application for initial registration of the replacement electric private vehicle must all be performed within the valid period, and the time to purchase should not exceed 3 months. Therefore, buyers should inquire in advance with the car dealership about the new car’s arrival date in Hong Kong, so as to make suitable arrangements for the vehicle scrapping date.