With the help of generous government subsidies, Norway is a world leader when it comes to the adoption of electric vehicles. Now, electrics and hybrids account for more than half of all new vehicles sold in Norway, putting it far above other countries in terms of national EV share.
Back in 2016, these vehicles made up about 40 percent of all new cars sales in Norway. In 2017, that number jumped to 52 percent, according to the Norwegian Road Federation.
EV buyers in the country benefit from the ability to forego the usual taxes. They also receive free or subsidized parking, charging, and access to toll roads, ferries, tunnels—benefits that can add up to thousands of dollars a year. However, as Reuters points out, Norway’s policies may be hard to replicate. Norway has accumulated in the ballpark of $1 trillion in its sovereign wealth fund, ironically, from revenues related to the production of oil and gas.
The most popular models sold in Norway last year include the Volkswagen Golf, BMW i3, Toyota RAV4, and Tesla Model X. Of course, the BMW and Tesla run on pure electricity, but the VW and Toyota offer electrified versions.
Zero-emission cars, which exclude hybrids, made up 21 percent of car sales last year in Norway. This is an increase from 2016, when these vehicles comprised 16 percent of overall sales.
Almost all of Norway’s electricity is made from hydropower, helping to combat climate change. By 2025, Norway plans to ban the sale of gas and diesel cars in that effort. Other countries including France and Britain want to end the sale of these vehicles by 2040. Most recently, an assemblymember in California introduced a bill that would achieve the same 2040 goal in the state.
Source: Reuters
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