This Country Has More EVs Than Gas-Powered Cars

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It may be decades before half of the cars in the US are EVs. Based on sales trends, it may take longer across most of Europe. However, more than half of the cars are already EVs in one European country.

According to The Washington Post, “Of the 2.8 million passenger cars registered in the country, 26.3 percent are fully electric, just edging out the share of gas vehicles. Diesel remains the most common vehicle type, making up more than a third of Norwegian vehicle registrations.” Among the reasons is aggressive government incentives. These have helped push demand to the point where 90% of new cars sold are EVs.

In the US, incentives are more challenging to find and often change. New IRS rules give people tax breaks of as much as $7,500 on new EVs. However, there is an income limit. Married couples with incomes above $300,000 yearly do not qualify based on modified gross income. These must also “undergo” final assembly in North America. Part of the aim of the restrictions on these incentives is to keep Chinese products out. Cars built with certain Chinese vehicles do not get what is as much as a $7,500 incentive.

As long as US policy severely restricts EV incentives, the drive toward higher sales will be stunted. American buyers are already concerned about range, number of charging stations, and prices. Based on all these factors, US EV adoption will remain slow.