Case Study: EV Insights, A Case Study of Norway
Norway stands out as the world's most successful market for electric vehicles. What can the world learn from Norway when it comes to the transition to EV?
The transportation sector is responsible for a large proportion of the global carbon emissions and the electric vehicle market has an essential role in decarbonizing the sector. To promote EV adoption, governments have been increasing financial subsidies and tax exemptions. On the other side of the spectrum, consumers are becoming more open to electric vehicle adoption, affected by an increase in subsidies, new technology developments, and higher availability of EV models on the market.
While many countries are struggling to increase electric vehicle adoption, there are countries like Norway that have already reached market maturity and have been highlighting themselves as an example to follow. Norway recorded an 86% market share in new EV sales in 2021 and the number of EVs on the road is continuing to grow. Many countries try to benchmark and replicate the efforts taken by the Norwegian government to increase EV adoption. However, in the case of Norway, government subsidies worked in tandem with other factors which lead to remarkable achievements in electric vehicle adoption rates.
This case study discovers major factors that influenced electric vehicle adoption in Norway and breaks them down into four main categories:
- Government incentives
- Socio-economic factors
- Public charging infrastructure
- Climate factors
The categories are analyzed to provide insight into how each factor affected electric vehicle adoption rates in Norway.