Norway Powers Ahead: The Electric Vehicle Surge

Norway is leading the shift to electric vehicles, with 88.9% of new car sales in 2024 being EVs. Government policy and incentives have been crucial for this transition. The absence of a local automaker lobby has facilitated a tax approach to discourage petrol and diesel cars.

Norway is accelerating its transition to electric vehicles, with nearly 89% of new car sales in 2024 being battery-powered, as reported by registration data released Thursday. The nation's aggressive EV push aims to exclude gasoline and diesel engines from the market by 2025.

Leading the sales charge was Tesla, followed by Volkswagen and Toyota. Chinese electric vehicle (EV) brands now claim close to 10% of Norway's market share. According to Christina Bu, leader of the Norwegian EV association, Norway is on track to become the world's first country to drastically reduce fossil-fuel car sales.

Norway's strategy includes high taxes on petrol and diesel cars, offset by EV tax exemptions, though some charges returned in 2023. Consistent government policies, unaltered by political changes, have supported this initiative. This approach is feasible due to the absence of a local automotive industry lobby, simplifying the imposition of high vehicle taxes.

(With inputs from agencies.)