In the rapidly evolving automotive landscape of Hong Kong, the government-backed One-for-One Replacement Scheme provides financial incentives, including the First Registration Tax (FRT) concessions to encourage the adoption of electric vehicles (EV) in Hong Kong. This program simplifies the transition to EV ownership for families and business.

What is the One-for-One Replacement Scheme?
The One-for-One Replacement Scheme is designed to encourage owners of fuel-powered cars to transition to electric vehicles (EV) by providing First Registration Tax (FRT) concessions. The scheme incentivizes owners of older, high-emission vehicles to scrap them and purchase EVs by offering tax concessions, helping reduce overall vehicle emissions in Hong Kong. Participants benefit from substantial First Registration Tax (FRT) reductions on their new EV purchases, simplifying the transition to cleaner transportation.

How One-for-One Replacement Scheme Works in Toyota HK?
The process begins with eligibility assessment, where applicants verify if their current vehicle qualifies for scrapping under the government’s One-for-One Replacement Scheme. After scrapping an eligible vehicle, customers can apply for a First Registration Tax (FRT) concession on their new EV purchase through the program.

Toyota Hong Kong provides expert guidance on the program’s details, including available First Registration Tax (FRT) concessions and EV options. Customers can seek our professional assistance in choosing an EV model that aligns with their driving needs and budget.

Benefits and Advantages of the One-for-One Replacement Scheme
Through this government initiative, vehicle owners scraping their older vehicles can qualify for substantial First Registration Tax (FRT) concessions when purchasing an eligible EV. This initiative aims to reduce overall emissions, improve air quality, and support the transition to a more sustainable transportation system in Hong Kong. By participating, drivers can enjoy the benefits of cutting-edge EV technology, lower running costs, and contribute to reducing their carbon footprint in Hong Kong.

Eligibility and Requirements*
To join the “One-for-One Replacement” Scheme, you have to satisfy all the following criteria, including arranging to scrap and de-register your “Old PC” and then first register an e-PC (“Replacement e-PC”) under your name within the effective period of the Scheme(i.e. 28 February 2018 to 31 March 2026, both dates inclusive). The existing vehicle, referred to as "Old PC" (Private Car), must be classified as a private car under Hong Kong’s Road Traffic Ordinance and can be fueled by petrol, diesel, or be a hybrid or electric model.

“Old PC”
(a) Vehicle class and propulsion – the “Old PC” must be in the vehicle class of private car as defined under the Road Traffic Ordinance (Cap 374) when it is de-registered, which can be a petrol-driven, diesel-driven, plug-in or non-plug-in hybrid electric or pure electric PC.
(b) Age – the “Old PC” must have been first registered in Hong Kong for at least 6 years when its registration is cancelled (de-registration) owing to scrapping, i.e. the period between the “date of first registration” of the “Old PC” as shown on the Vehicle Registration Document (VRD) and the de-registration date must be 6 years or more.
(c) Ownership period* – you must have been the registered owner of the “Old PC” for 18 months or more, without interruption, immediately prior to its deregistration, i.e. the period between the “date registered as owner” as shown on the VRD and the de-registration date must be 18 months or more.
(d) Licensed period* – the “Old PC”, with or without interruption, must have been licensed for at least 10 months (i.e. 304 days or more) within the 12 months immediately before its de-registration.

“Replacement e-PC”
(e) Vehicle class and propulsion – the “Replacement e-PC” must be classified as private car as defined under the Road Traffic Ordinance (Cap 374) when it is first registered, and is a private car propelled solely by electric power and does not emit any exhaust gas.
(f) Ownership at first registration – the “Replacement e-PC” must be first registered under the name of the registered owner of the “Old PC” when the latter is scrapped and de-registered.

In conclusion, the One-for-One Replacement Scheme is a significant initiative to accelerate the adoption of zero-emission electric vehicles in Hong Kong. By offering financial incentives and clear eligibility guidelines, the scheme supports vehicle owners in transitioning to cleaner transportation while contributing to Hong Kong’s sustainable mobility goals.

As Hong Kong continues to work towards a more sustainable future, participants in this scheme play a pivotal role in reducing emissions, improving air quality, and supporting the city’s efforts to create a more sustainable urban environment for generations to come. Find out the EV Toyota bZ4X now!

*Source: Transportation Department: https://www.td.gov.hk/filemanager/en/content_4889/2022.12.30%20-%20How%20to%20Participate%20in%20the%20OFO%20Scheme_Eng.pdf