Norway Electric Car Market
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Norway Electric Car Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% from 2020 to 2027, reaching US$ XX Mn.
Norway Electric Car Market
Norway Electric Car Market Overview:
Nearly 60 percent of new electric cars were sold in Norway in March 2019. This is the newest record-breaking figure involving Norway & EV records as the Scandinavian country looks to end sales of fossil-fueled vehicles by the year 2025.
The figures could be even greater, but many Norwegians find themselves on big waiting lists as franchises fight to import sufficient cars. According to industry numbers, a total of 11,518 electric vehicles were recorded in Norway in the first quarter of 2019, double as several as the last year. The new Tesla Model 3, Nissan Leaf & Volkswagen Golf accounts for the highest registrations. Though unit sales in China & the U.S. are extremely greater, Norway remains the picture child of Electric vehicle development. This is due to more Electric Vehicles on Norway streets compare to total cars than anywhere else in the world.
Continuous headlines over the last few years have left several societies scratching their heads to know why and how a small country like Norway with a population just over five Mn leads the Electric Vehicle development. The answer is simple -encouraging environmental math, & fiscal incentives.
Despite its status as a key oil industry player, nearly all of Norway’s national energy comes from hydropower. Many of the nation’s electricity is renewable, a switch to Electric Vehicles is a far greener equation than it would be for nations whose electricity comes from nonrenewable plants. To make the shift happen, the Norway government has invested greatly in economic incentives & charging infrastructure. In 1990, the government announced incentives for electric vehicle owners. Huge changes began to come with time when highway tax was dropped, values for toll highway & public ferries were removed, & free parking was opened in several municipal car parks. The nation’s wide charging set-up was kick-started by government fund, private firms are now taking over actions & there has been a lot of interest from foreign counterparts. The government reached its goal of 50,000 zero-emission vehicles on the street 3 years earlier than scheduled.
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