Norway EV Fact Sheet
Courtesy of Norwegian site TNP.No, we present some facts on the EV segment in Norway.
- In 2013, 7,882 new passenger electric cars registered in Norway, which is twice as many as in 2012 when only 3,950 were registered.
- Last year, the market doubled and EVs now hold 5.5% market share on average in 2013.
- According to the November and December results, with over 11% of market share, it is expected that 2014 has a big chance to double the share.
- The fleet of plug-in electric vehicles in Norway is the largest per capita in the world, with Oslo recognized as the EV capital of the world.
- As of 30 September 2013, a total of 14,902 all-electric vehicles have been registered in Norway, including 13,462 all-electric cars and 1,440 quadricycles.
- Norway’s fleet of electric cars is one of the cleanest in the world because almost 100% of the electricity generated in the country comes from hydropower.
- Norway was the first country in the world where electric cars have been listed among its top 10 best selling cars, and the first one to have electric cars topping the new car sales monthly ranking.
- Among the existing government incentives, all-electric cars are exempt in Norway from all non-recurring vehicle fees, including purchase taxes, which are extremely high for ordinary cars, and 25% VAT on purchase, together making electric car purchase price competitive with conventional cars.
- Electric vehicles are also exempt from the annual road tax, all public parking fees, and toll payments, as well as being able to use bus lanes.
- These incentives are in effect until 2018 or until the 50,000 EV target is achieved.
What will be interesting to watch is for what happens when either 50,000 EVs are sold or when 2018 comes to an end. The financial advantages for buying electric in Norway are tremendous. If those advantages disappear, will buyers there still opt to go electric? Our thinking is that Norway will extend its various EV incentives, perhaps at a scaled-back rate. Or, it could play out that by 2018, EVs are priced on par with ICE in Norway and therefore sell themselves without incentives? One thing is for certain, we’ll be watching what Norway does as its EV incentives get close to expiring.