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Hong Kong Just Made Buying a Tesla Cheaper

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Michal Meidan Says Electric Vehicles Are Here to Stay

Hong Kong just made buying an electric car cheaper, unveiling a tax benefit that’s set to boost demand for Teslas and other green vehicles from makers such as BMW.

Electric-vehicle buyers who trade in an eligible gas-guzzler will get a waiver of as much as HK$250,000 ($32,000) on the first registration tax, the government said Wednesday when delivering its annual budget. An existing waiver of up to HK$97,500 for new electric-vehicle purchases will also remain in place.