Norway electric vehicle market is projected to grow at CAGR of more than 18.0% during the forecast period (2019-2025). Adoption of electric vehicles due to strong incentives availability is propelling the growth of the market. In 2021, Norway EV Association announced that electric vehicle sold in Norway was over 100,000 in 2020. Norway has a higher market penetration of electric vehicles globally and the plug-in electric vehicles sold in 2020 was 74.7% of all passenger cars sold in country In 2018, plug-in electric cars on the roads were 10% which increased to 17.2% in 2020.
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In January 2021, the Norwegian Road Federation (OFV) has announced that Norway has sold around 54% electric cars in 2020 as compared to 42% in 2019. Norway’s government is aiming to have a pollution-free country by 2025 and also to have fully electrified vehicles. The government aims to end up the sales of petrol and diesel vehicles. Norway has around 16,000 charging stations in the country, of which around 3,300 are fast chargers. Apart from this, the government is providing the benefit of a 90% discount or $229 in a year, on the road tax to the drivers of the electric vehicles. Therefore, the government benefit and increasing sales are driving the Norway electric vehicle industry.
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Norway Electric Vehicle Market Report Segment
By Vehicle Type
- Commercial Vehicle
- Passenger Cars
- Two-Wheelers
By Propulsion Technology
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
By Battery Type
- NiMH
- Li-ion
- Others
Company Profiles
- AB Volvo
- Audi AG
- BMW AG
- Daimler AG
- Ford Motor Co.
- Hyundai Motor Co.
- Nissan Motor Co.
- Tata Motors Ltd. (Jaguar)
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