International Automotive and Supply Chain Expo (HK) held today

The International Automotive and Supply Chain Expo (Hong Kong) was held today (Nov. 27). Chief Executive John Lee stated in a video that Hong Kong has become one of the regions in the world to adopt electric vehicles rapidly, with significant room for development.

As of November last year, electric private cars accounted for over 11% of the total number of private cars in Hong Kong. Currently, the number of electric vehicles in Hong Kong has surpassed 100,000, representing an approximately sevenfold increase over the past five years. The proportion of electric private cars among newly registered private vehicles has risen from over 20% in 2022 to around 70%, among the fastest growth rates in the world.

Lee mentioned that the new policy address proposes a series of reform measures to further promote the green transformation of vehicles. In the future, the government will allocate approximately HK$750 million to subsidize the taxi and franchised bus industries to purchase electric vehicles. Additionally, the government will launch a new HK$300 million plan to assist private entities in installing fast charging facilities, further supporting 160,000 electric vehicles.

He emphasized that the automotive industry is experiencing tremendous changes with the integration of electrification, intelligence, and connectivity, which brings new opportunities as well as challenges. He hopes everyone can work together to achieve mutually beneficial development with regions worldwide and strengthen the leading advantages of the national new energy vehicle industry.

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