Norway has been the country with the highest penetration rate of electric vehicles for the past few years, though the speed at which fossil fuel vehicles disappear has exceeded the anticipation, and now the market shares of diesel and gasoline vehicles in the country have been reduced to an insignificant level.
The transition from petrol to electric vehicles has been unimaginably fast with various conditions now in place. Norway has been the country with the highest market shares of electric vehicles over past several years, and exceeded 50% back in 2019, whereas the market shares of fossil fuel vehicles are dropping expeditiously.
As indicated by the latest statistics, Norway had merely 4.8% and 4.7% of sales in gasoline and diesel vehicles during March 2021, which combined to less than 10% of all new vehicles. Under a YoY comparison, gasoline and diesel vehicles had a sales volume of 7.7% and 10% respectively.
BEVs account for 56.2% of new car sales at 8,618 units, and HEVs account for 34.2% of new car sales at 5,244 units, for which the two combine to almost 10 times the amount of fossil fuel vehicles.
The rapid decline in the market shares of fossil fuel vehicles is attributable to the increasing quantity of electric vehicles in the market on one hand, and the reduced selection of new fossil fuel models on the other. The Norwegian government expect fossil fuel vehicles to be fully terminated prior to 2025.
However, we must not infer other countries using the example of Norway, since it is a small and wealthy country that produces abundance of petroleum, and the existing results are formed under the coopetition of multiple conditions, which is not something that can be easily imitated.
In contrast to Norway fulfilling the target of comprehensive electrification by 2025, most analysts believe that electric vehicles will only occupy 30% of the global automotive sales in 2030.
We can, however, learn two things from the example of Norway.
First, the transition from oil to electric is an excruciating process, though once the cycle is activated, and certain thresholds (government subsidy, infrastructures, grid measures) are achieved, the speed at which consumers turn to electric vehicles will become exceedingly fast.
Second, it is time to stop believing the urban legend regarding how electric vehicles are not suitable in cold areas.
(Cover photo source: Norsk elbilforening)