Norway, a global leader in oil exports, has made a significant shift towards electric vehicles. Recent data from the Norwegian Road Federation reveals that the country now has more electric cars on its roads than petrol-powered vehicles.
Of the 2.8 million private cars registered, 754,303 are all-electric, surpassing the 753,905 petrol-driven cars.
While diesel vehicles still account for nearly a million registrations, sales are rapidly declining.
Norway, with a population of 5.5 million, has set an ambitious target of all new car sales being zero-emission vehicles by 2025, a decade ahead of the EU’s goal. In August, electric vehicles captured a record 94.3% of new car registrations, driven by the popularity of the Tesla Model Y.
Norway’s transition to electric vehicles has been accelerated by generous tax breaks and other incentives, funded primarily by the country’s oil and gas revenues. The government’s sovereign wealth fund, valued at over $1.7 trillion, has provided a financial cushion to support green initiatives, including exempting electric car buyers from sales tax.
To further promote electric vehicle adoption, Norway has implemented various measures such as free parking and toll exemptions for EV drivers. Additionally, the country boasts a robust charging infrastructure with numerous free charging stations in every town and city, including 2,000 in Oslo alone.
These factors have contributed to Norway’s position as a global pioneer in electric vehicle adoption.
[source: The Guardian]
