Norway, a country whose wealth is based on fossil fuels, has become the world lead er in electric cars. About 35 per cent of new cars are sold with a plug, and the country has a target of zero emissions for all new cars by 2025. “Carmakers are increasingly viewing Norway as a vision of tomorrow’s car market,” says Christina Bu, secretary-general of the Norwegian Electric Vehicle Association. But as electric cars in this country of 5.2m people move from the early adopter phase into the mass market, problems are cropping up for policymakers. One of the most pressing is when – and how – to rein in the extremely generous subsidies that have underpinned the boom, so that electric cars can compete with petrol vehicles on a level playing field. Norway’s Conservative government believes that the falling cost of batteries and rising demand mean the moment could come as soon as 2025, while carmakers such as Germany’s Opel talk about 2030 or later.
FT 14th June 2017 read more »