Electric cars now outnumber petrol models in Norway
September 24th, 2024
Norway, one of the world’s largest oil exporters, has reached a milestone with more electric cars on its roads than petrol-powered ones. According to the Norwegian Road Federation, of the 2.8 million private cars registered, 754,303 are fully electric, surpassing the 753,905 petrol-driven vehicles.
The country, home to 5.5 million people, aims to be the first to stop selling new petrol and diesel cars by 2025. Norway’s rapid adoption of electric vehicles (EVs) has been fuelled by generous tax breaks and incentives, largely funded by its oil and gas revenues.
Norway’s $1.7 trillion (£1.3tn) sovereign wealth fund, built from oil profits, acts as a “pension fund” for when resources run out. This financial cushion allows the government to offer green perks, such as exempting electric car buyers from sales tax.
In the early days of the EV push, environmental activists even teamed up with pop group A-ha to promote electric cars.
Despite this progress, diesel cars remain the most common vehicle type, with nearly a million still on the roads. However, their sales are declining quickly, according to the Norwegian Road Federation.
Today, 90% of new cars sold in Norway are electric, thanks to extensive government support. Drivers enjoy perks such as free parking, exemption from city tolls, and access to thousands of free charging points, including 2,000 in Oslo alone, making the switch to electric vehicles even more attractive.