Market share of EVs in Norway has reached 50%

Market share of EVs in Norway has reached 50%

In Norway, the market share of electric vehicles (EVs) has now reached 50%, with an increasing number of potential vehicle buyers favouring EVs over gas-powered vehicles.

Norway has been demonstrating an exponential adoption of EVs over the last few months. The latest figures in this regard clearly show that over the last one year, the number of EVs sold in the country has been on par with the number of gas-powered vehicles.

One of the main reasons for the increasing adoption of EVs in Norway is that gas costs and taxes on conventional vehicles are high in the country, whereas no tax is imposed by the government on EV sales.

As a result of the policy being followed by the Norwegian government, the cost of buying an EV in Norway is approximately 50 percent of the cost of purchasing gas-powered vehicles in the country. The efforts of the government are essentially aimed at ensuring that EVs account for 100% of the auto market share from the year 2025 onwards.

However, Energy specialist Robert Rapier has drawn attention to the fact that, despite the relentless efforts of the government, Norway has yet to reach peak demand for EVs. Rapier said: “If Norway tells us anything, it’s that even rapid EV growth isn’t going to lead to peak demand as quickly as proponents think. It isn’t even clear that peak demand is yet occurring in Norway.”