October 17, 2020
What a difference a decade makes.
Ten years ago, there were virtually no electric cars in Norway. But the country instituted a number of incentives, including high taxes on conventional gas-powered vehicles and a 25% VAT exception on electric and hybrid vehicles.
The result? In September, 81.6 percent of the vehicles sold in Norway were either fully electric (61.5%) or plug-in hybrid (20.1%).
Think there’s no money to be made in a green economy? Tell that to Tesla, Volkswagen and Polestar, the three best-selling electric car manufacturers in Norway.