Tech
Trollstigen, Norway, Sunset over the Trollstigen valley road
Getty Images
Going Elektrisk

Norway’s EV market keeps charging ahead

Norway’s stunning roads are increasingly quiet, as EVs dominate new car sales

Tom Jones

In August, electric vehicles accounted for a genuinely staggering 94.3% share of new car sales in Norway, as the nation’s road users continue to accelerate ahead of the rest of the world when it comes to EV adoption.

There were almost 10,500 electric vehicle sales in the Scandi nation last month, compared to just 634 non-EV sales (including petrol, diesel, and hybrid models), according to the OFV, Norway’s national Road Federation. While electric vehicles have made up the majority of new car sales each year since 2020, the 94% monthly figure marks a new high even by their standards, with the Norwegian government aiming to reach a point in 2025 when every new car sold is electric or hydrogen.

Norway EVs
Sherwood News

Gas out

The adoption has been a long time in the making — since the 1990s, successive governments have introduced a range of policy measures and incentives to get Norwegian nationals onboard with the EV surge. For example, Norway’s electric vehicle drivers have benefitted from perks like free parking, various tax exemptions, cheaper toll fees, the use of bus lanes, and much more besides over the years. It helps that the country is one of the wealthiest on Earth, in part — somewhat ironically — thanks to its huge oil reserves, which have given it a gargantuan wealth fund.

While many of the benefits have been gradually repealed as adoption increased more recently, the figures suggest that Norway could be well on the way to reaching 100% zero-emission vehicle sales by next year, a full decade ahead of the EU goal.

More Tech

See all Tech
$100B

Each day of the Musk v. Altman trial in Oakland, California, more details of Microsoft’s complicated $13 billion partnership emerge from the courtroom.

Yesterday, Microsoft executive Michael Wetter said that the company has spent over $100 billion on the OpenAI partnership. A big chunk of that came from the fact that Microsoft needed to build the costly infrastructure before OpenAI could use it, according to Wetter.

Microsoft’s investment looks like it was worth it, as OpenAI is currently valued at $852 billion, making Microsoft’s stake worth about $135 billion. OpenAI is planning for an IPO later this year.

tech

Alphabet’s Waymo to add 200 square miles of coverage area to existing markets

Waymo, a subsidiary of Alphabet, announced today that it’s expanding its coverage area by 200 square miles in several existing markets, including Miami, the San Francisco Bay Area, Houston, Austin, and Atlanta. That will bring its total coverage area to more than 1,400 square miles. The autonomous car service is currently offering public rides in 11 markets, after expanding to Nashville last month.

25%

AI companies are amping up their spending in Washington as they push for federal approval for more data centers and industry-friendly rules regarding their use of copyrighted material, among other asks, The New York Times reports, citing data from nonprofit watchdog Public Citizen. 25% of currently registered federal lobbyists are now involved in pushing AI interests. That’s more than double what it was — 11% — in 2023. Meta, Nvidia, and Alphabet spent $47.8 million combined last year, up 22% from 2024.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.