Chinese Smart Driving Startup Horizon Robotics Files for IPO in Hong Kong
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Hong Kong car salesman Danny Chan Kwok-leung clinched five orders for electric vehicles (EVs) on Wednesday, the day Financial Secretary Paul Chan Mo-po unveiled his budget. The HK$287,000 (US$36,660) tax concession for those who trade in their internal combustion-engine cars will be cut to HK$172,500, and high-end EVs priced at HK$500,000 before tax, will no longer be eligible for tax breaks under the 'affordable users pay' principle. Other industry players told the Post the changes were likely to move buyers to consider lower-priced EVs, and they pointed out there was plenty of choice ranging from mainland China-made BYD cars going for HK$198,000 to Japanese Nissan models priced at HK$269,800. The tax incentives were introduced in 2018 to support Hong Kong’s drive to encourage EVs, with t...
#newstr #Evs #TaxIncentives #Ipo #HorizonRobotics #HongKong