Abundant reserves of oil and gas, yet this country is crazy about EV, 89% vehicles are EV

Last Updated:January 08, 2025, 18:10 IST

To increase the adoption of electric vehicles in Norway, facilities like tax exemption, toll waiver, free parking and use of public transport lanes were given.

New Delhi. The sales of electric vehicles are increasing rapidly in the world. In India too, two-wheeler and four-wheeler electric vehicles have started appearing on the roads. But, Norway has overtaken all the countries in terms of EV. In the year 2024, Norway has set a new record in the sales of electric vehicles. According to data from the Norwegian Road Federation (OFV), 89% of new vehicles sold in Norway in 2024 were electric. OFV says this achievement marks a step closer to its goal of making all new vehicles “zero emissions” by 2025. A total of 1,28,691 new vehicles were registered in 2024, out of which 1,14,400 vehicles were electric. The special thing is that Norway is a major energy producing country and exports a lot of oil and gas.

Norway has made significant progress in the field of electric vehicles in the last 12 years. The share of electric vehicles was only 2.8% in 2012, but this figure increased rapidly due to incentive schemes and awareness campaigns. To increase the adoption of electric vehicles in Norway, facilities like tax exemption, toll waiver, free parking and use of public transport lanes were given. Although some incentives have been withdrawn over the years, electric vehicles are now common in Norway.

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Tesla is at the forefront
Tesla leads among companies selling electric vehicles in Norway with 19% market share. After this comes Volkswagen, Toyota, Volvo and BMW. Now some Chinese brands have also started being sold in Norway. Therefore, in 2025, it will be interesting to see how much space the new Chinese brands and models can create among the buyers.

Only 2 percent stake in India
There is enthusiasm about electric vehicles in India, but the market is still very small. According to India Brand Equity Foundation, only 2% of the total vehicles sold in India in 2024 were electric. Currently, companies like Tata, Mahindra, Hyundai, and MG are selling electric vehicles in the market.

This year, the country’s largest car company Maruti will also launch its EV. Lack of charging infrastructure in India is the biggest obstacle to the popularity of EVs. Two-wheelers and three-wheelers contribute more to the sales of electric vehicles in India. Electric would account for 50% of three-wheelers sold in 2024 and 5% of two-wheelers.