Norway: Pioneering the Electric Vehicle Revolution

Norway is on track to become the world’s first country to fully transition to electric vehicles (EVs). EV sales have soared from less than 1% of total auto sales in 2010 to 88.9% in the previous year, and in the first few weeks of this year, EVs accounted for over 96% of new car sales. Norway is approaching a non-binding goal set in 2017 to achieve 95%-100% EV sales, with expectations for completion this year.

The extensive government incentives, such as VAT exemptions, discounts on road and parking taxes, and heavy investments in public charging infrastructure, have facilitated this transition. Currently, approximately 28% of cars in Norway are fully electric, with the percentage increasing to over 40% in Oslo. 

Future plans include fully transitioning to electric city buses by 2025 and aiming for 75% of heavy-duty vehicles to be renewable by the end of the decade. In comparison, EVs accounted for 8.1% of total U.S. sales and nearly 20% of new car registrations in the U.K. in 2024.

A significant cultural shift is evident, with many individuals who were initially resistant to EVs now embracing the technology. Norway’s approach serves as a model for sustainable transportation policies, supported by consistent government efforts and growing societal acceptance.

Source: CNBC