Energy

The electric vehicle market share in Norway clocks 54 percent

Summary

Norway is the first country to witness electric vehicles’ sales surpass that of internal combustion engine cars and hybrids, with Volkswagen leading the market share in the country. Volkswagen managed to reach the top ahead of Tesla, which should have […]

Norway is the first country to witness electric vehicles’ sales surpass that of internal combustion engine cars and hybrids, with Volkswagen leading the market share in the country. Volkswagen managed to reach the top ahead of Tesla, which should have been leading this quest. Battery electric vehicles reached 54% in the total sales of the cars in the country last year from 42.4% recorded in the year before last year. This value has taken the country ten years to reach, according to the Norwegian Road Federation (OFV). The country has been working incessantly to become the first nation to ban the sale of internal combustion engine cars by 2025. The country also relieved the electric vehicle industry of all the taxes that cars relying on fossil fuels paid, accelerating the uptake of these vehicles by its citizens.

This regulation has converted the country into a testing ground for companies intending to develop or venture into the electric vehicle industry by manufacturing new models and products to compete with those developed by the local manufacturers. Additionally, last year became the milestone where the purely electric vehicles surpassed all the other production lines with 50% sales, a trend that few countries are likely to take years to achieve. Europe alone has surpassed the 500000 units mark for sales of purely electric vehicles this year. The CEO of OFV, Øyvind Thorsen, stated that they are on the path to achieving the targets slated for 2025. The last months of last year recorded the highest sales of these vehicles, with two-thirds of the share of sales being purely electric vehicles.

Volkswagen’s Audi modeled the 2020 sales with its e-Tron sports models and sportsback in Norway, replacing Tesla’s Model 3, which had led the market in the previous year. This trend is because Volkswagen vowed to be the leader in the production and sales of battery electric vehicles globally and deployed the necessary measures to activate this target.

Experts have revealed that this is the right time to invest in the electric vehicle industry because the sales will be rising continuously until the ban on conventional cars takes effect. The chief of the Norwegian EV Association, Christina Bu, explained that their target is for the electric vehicles market share to rise above 65 percent this year. This move would bring close the achievability of selling net-zero emissions vehicles in the next four years. Tesla is expected to make a move after witnessing this competitive spirit from Volkswagen in Norway.

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