Norway leads the pack when it comes to electric vehicle (EV) adoption. In 2023, a staggering 82% of new cars sold in Norway were EVs, according to the Norwegian Road Federation (OFV). This dwarfs the figures seen in other major markets like the United States and China, where EV adoption rates stand at 7.6% and 24% respectively.
Ragnhild Syrstad, representing the Norwegian Ministry of Climate and Environment, sets an ambitious target: by 2025, they aim for all new cars to be zero-emission vehicles. And they’re confident they’ll get there.
This success story isn’t new. Norway began incentivizing EV purchases as far back as the 1990s, offering perks like free parking, access to bus lanes, toll exemptions, and crucially, zero taxes on zero-emission vehicles. However, it wasn’t until around a decade ago, with the introduction of models like Tesla, that EV sales truly took off, notes Syrstad.
Norway’s capital, Oslo, epitomizes this electric revolution. From ferries and buses to semi-trucks and construction equipment, everything is being electrified. Gas pumps and parking meters are being replaced by charging stations, painting a picture of an electrified utopia. The nation’s ample hydropower resources have facilitated this transition, ensuring that the grid can handle the surge in EVs.
Petter Haugneland, from the Norwegian EV Association, underscores the economic advantage of EVs in Norway. Thanks to nearly 100% hydropower, electricity is cheap, abundant, and renewable, making electric cars roughly a third of the cost of gasoline-powered vehicles.
CNBC embarked on a journey to uncover the secrets behind Norway’s remarkable EV success story, interviewing experts, government officials, and locals alike. Their findings shed light on a nation that has truly embraced the electric future. (Source : cnbc.com)
