How Norway Built An EV Utopia While The U.S. Is Struggling To Go Electric | CNBC Documentary
CNBC・2 minutes read
Norway leads global EV adoption, with over 82% of new car sales being electric vehicles in 2023, aiming for all new cars to be zero-emission by 2025 through policy incentives and charging infrastructure investments. The success in EV adoption is attributed to government subsidies, partnerships with companies for charging networks, and transitioning to renewable energy sources, setting an example for other countries like the US.
Insights
- Norway leads globally in EV adoption, with over 82% of new car sales being electric vehicles in 2023, driven by comprehensive policy measures and substantial government incentives.
- Oslo, Norway is at the forefront of transitioning public transportation to zero-emission vehicles, supported by robust charging infrastructure and innovative partnerships with companies like McDonald's, showcasing a holistic approach to sustainable mobility.
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Recent questions
What country has the highest EV adoption rate?
Norway
What is Oslo transitioning all public transportation to?
Zero-emission vehicles
Which country had only 7.6% of new car sales as electric vehicles in 2023?
The U.S.
What is the Norwegian government's annual investment in EV incentives?
$4 billion
What is the focus of Norway's EV infrastructure development?
Charging infrastructure
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Summary
00:00
Norway Leads Global EV Adoption Success
- Norway has the highest EV adoption rate globally, with over 82% of new car sales being electric vehicles in 2023, rising to over 90% when plug-in hybrids are included.
- The goal in Norway is for all new cars by 2025 to be zero-emission vehicles, a target they believe they will achieve.
- In contrast, the U.S. had only 7.6% of new car sales as electric vehicles in 2023, while China had 24%.
- Oslo, Norway's capital, is transitioning all public transportation to zero-emission vehicles by the end of the year, replacing gas pumps and parking meters with chargers.
- Norway's success in EV adoption is attributed to a combination of policy measures, including zero registration and value-added tax for EVs, making them cheaper than petrol or diesel cars.
- The Norwegian government spends about $4 billion annually on EV incentives, with $1,000 per inhabitant going towards subsidizing electric car purchases.
- Norway's oil wealth has been invested in the world's largest investor, Norges Bank Investment Management, which owns 2% of most companies globally.
- Freyr, a battery company in Norway, is building a Giga Arctic factory and a battery factory in Georgia, focusing on applications in the power grid.
- Charging infrastructure in Norway has been crucial, with companies like Mer Norway and Tesla installing thousands of fast chargers and superchargers across the country.
- Partnerships with companies like McDonald's have helped expand the charging network in Norway, making it easier for EV owners to charge their vehicles.
13:27
Norway's Energy Stations: EV Infrastructure and Challenges
- Gas stations in Norway are now energy stations, selling energy for cars and people, with retailers hoping for additional purchases during car charging.
- A massive charging station at an Ikea in Oslo cost around $200,000 to build, depending on charging points and power needs.
- Recharge, a company investing in infrastructure, aims to be profitable with investor support over ten years.
- In Norway, electric vehicles preceded charging infrastructure, with home charging being common.
- Oslo leads in EV infrastructure, converting buses, installing chargers, and electrifying ferries.
- The city funded initial charging infrastructure, now transitioning to user payments.
- Norway has relied on hydropower for 120 years, planning to double wind power by 2040.
- Building new charging sites requires agreements with landowners, authorities, and grid companies.
- Gas stations like Circle K in Norway are investing in fast chargers to adapt to declining fuel demand.
- EV owners in Norway faced issues with charging reliability and payment systems, with efforts to simplify access through card terminals.
27:07
EV Carpooling and Incentives: Global Trends
- EV drivers initially had access to bus lanes, but due to overcrowding, it's now limited to EV carpools.
- Subsidies for EV use, like parking discounts and road toll reductions, are being phased out as electric vehicles become more common.
- With an 80% market share, incentives for EVs are decreasing due to lower CO2 emissions and improved technology.
- Norway has plans for battery recycling, aligning with EU regulations to ensure EVs have a long lifespan.
- Charging infrastructure for EVs in the US, Europe, and Norway needs improvement for user convenience and standardization.
- Norway's focus on economic benefits for EV adoption, electrifying various modes of transport, can be a lesson for the US.
