HK Electric Commits Full Support to Hong Kong's Electric Vehicle Roadmap

Stock News
02/12

HK Electric-SS (02638) has expressed its support for the updated roadmap on electric vehicle popularization released by Hong Kong's Environment and Ecology Bureau. The utility company stated it will fully cooperate with the government to promote the widespread adoption of electric vehicles across the city. In response to the policy direction outlined in the updated roadmap, HK Electric is preparing to introduce time-of-use electricity pricing for residential EV charging within the year. This initiative aims to encourage EV owners to charge their vehicles during periods of low electricity demand, offering customers more flexible charging options and further advancing low-carbon living and sustainable development. Since the launch of the government's EV-charging at Home Subsidy Scheme, HK Electric has provided assessment data—including power supply capacity, electrical load, and backup capacity—for 470 residential parking facilities. This assistance has supported the planning and construction of charging infrastructure, covering over 50,000 parking spaces on Hong Kong Island. To support the government's High-speed Charging Station Incentive Scheme, HK Electric previously supplied relevant data to help create an "Electricity Supply Availability Map" for Hong Kong Island, facilitating the selection of suitable sites for high-speed charging stations by operators. Currently, approximately 50 high-speed charging station projects on Hong Kong Island have received government approval. Over the past few years, HK Electric has also provided customized power supply solutions for multiple EV charging infrastructure projects, including supporting the conversion of gas stations into fast-charging stations and assisting in the installation of Hong Kong Island's first 600-kilowatt ultra-rapid charging systems. Additionally, the company is supporting the green transition of marine transport by promoting the electrification of land and sea transportation.

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