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TLB Proposes EV License Fee Based on 'Rated Power', Expected to Remain Cheaper Than Fuel Vehicles' Even After Hike
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Hong Kong's Transport and Logistics Bureau (TLB) announced that it will adjust the licensing fee structure for electric private cars. Currently, electric vehicle (EV) owners pay license fees based on the vehicle's "net weight", and the average annual license fee is around $1,100. In contrast, the average annual license fee for fuel-powered private cars (charged based on engine cylinder capacity) is about $7,500, marking a sixfold difference. As a result, the TLB proposed to calculate electric private car license fees based on "rated power", which are expected to remain lower than those for fuel-powered vehicles. AAStocks Financial News |
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