For a while now, much of the world has been dead set on reducing reliance on fossil fuels in a bid to reverse, or at least stop, human-made climate change. To achieve this ambitious goal, several countries have pledged to ban the sale of new internal-combustion-engine (“ICE”) vehicles over the next few decades. Europe undoubtedly leads the pack, with European countries introducing the most ambitious green-energy timelines in the world.
Dubbed by some as the “most EV friendly” country in the world, Norway stands at the very top in terms of EV adoption, and it has the numbers to prove it. Last year, the country made history after Norwegians bought more battery electric vehicles (“BEVs”) than petrol, diesel and hybrid-engined vehicles combined. According to the Norwegian Road Federation (“OFV”), BEVs accounted for 54.3% of all new cars sold in 2020, up from 42.4% in 2019 and a paltry 1% in 2010. Of the 2.8 million vehicles in the country, nearly 9% — 260,000 — of vehicles are fully electric.
Norway plans to completely stop the sale of new ICE vehicles by 2025, which is quite a tight timeline, and the country has deployed several policies to ensure this dream becomes a reality. The country levies one of the highest taxes in the world on luxury goods, including vehicles, pushing the average price of a vehicle in the country to £43,000–£46,000 ($58,291–$62,358) up from the £26,000–£29,000 ($35,245–$39,312) EU average. By eliminating these taxes for electric vehicles, Norway has made EVs affordable and much more attractive to customers.
Aside from not charging a vehicle purchase tax, Norway has also eliminated VAT and road taxes, introduced reduced or free tolls in some areas along with a reduced tax on company EVs and a 50% municipal discount on some tolls, ferry fares and car parks; other incentives include free parking in some municipal parking lots for electric vehicles. Industry analysts and car distributors expect EV sales to be even greater in 2021 as automakers introduce more EV models into the market.
Over the next year, Norway’s market will see nearly 40 new battery electric vehicle models. Christina Bu, head of the Norwegian EV Association, says its preliminary forecast is for BEVs to exceed 65% of the market this year. If that happens, she says, Norway’s ambitious plan of selling only zero-emission electric vehicles by 2025 may be achievable.
Back in the United States, many EV makers are producing models that are ideally suited for specific applications. For example, ev Transportation Services Inc. has a lightweight utility vehicle with a slim design and tight turning radius, properties that make it perfect for the parking enforcement community.
NOTE TO INVESTORS: The latest news and updates relating to ev Transportation Services Inc. are available in the company’s newsroom at https://ibn.fm/EVTS
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