Nordic Roads: Is Norway’s EV Market on Track to Meet Decarbonization Goals?
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Electric Vehicle Insights

Nordic Roads: Is Norway’s EV Market on Track to Meet Decarbonization Goals?

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With electric vehicles (EVs) accounting for the majority of new vehicle sales in Norway in recent years, electric vehicle adoption has transformed the country into a global EV transportation leader. While Norway is closer than most economies to full EV adoption, and their policies have resulted in significant greenhouse gas (GHG) emissions reductions, challenges remain in phasing out internal combustion engine (ICE) vehicles to achieve complete electrification.

Key Insights

With electric vehicles (EVs) accounting for the majority of new vehicle sales in Norway in recent years, electric vehicle adoption has transformed the country into a global EV transportation leader. While Norway is closer than most economies to full EV adoption, and their policies have resulted in significant greenhouse gas (GHG) emissions reductions, challenges remain in phasing out internal combustion engine (ICE) vehicles to achieve complete electrification.

Key Insights

  • In Norway, EVs made up 96% of new car sales in September 2024—the highest percentage globally. Foreign automakers should prioritize innovative EV models to leverage the country’s mature market and tech-savvy consumers.
  • Norway’s GHG emissions from vehicles have fallen rapidly, but the country still has a large stock of ICE cars that will be on its roads for years. Automakers selling in Norway should prepare for policy changes by adjusting pricing strategies and focusing their marketing on the long-term benefits of EV ownership.
  • Strategically expanding rapid charging infrastructure in rural areas, where EV adoption rates are low, is essential to accelerating the transition from ICE cars to EVs. As colder climates reduce battery range, necessitating more frequent charging, investing in a denser network of rapid chargers could mitigate consumer range anxiety and encourage even higher EV adoption rates.

Authors

Alexander Heil, PhD

Alexander Heil, PhD Alexander Heil, PhD

Senior Economist
The Conference Board

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Ioannis Siskos

Ioannis Siskos Ioannis Siskos

Senior Research Fellow, Governance & Sustainabilit…
The Conference Board

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Minji Xie

Minji Xie Minji Xie

Senior Researcher, China Center for Economics and …
The Conference Board

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