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[Cars] Norway on track to be first to go all-electric (www.bbc.com)

submitted 2 weeks ago* (last edited 2 weeks ago) by [email protected] to c/[email protected]

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"Norway is the world leader when it comes to the take up of electric cars, which last year accounted for nine out of 10 new vehicles sold in the country."

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[–] [email protected] 13 points 2 weeks ago

Money is taken from the sovreign wealth fund every year. However, it is not taken from the savings, but from interest. A maximum of 3% of the funds value can enter the budget, as decided by the budgetary rule.

Oil also makes people richer because it provides industry and jobs.

However, the reason people can afford electric vehicles is that they are excempt from value-added tax. VAT on new cars is quite high in Norway, so if this shaves $40 000 off the price of a new car it obviously makes them more lucrative by comparison.

It's a political decision, it's not that all Norwegians walk around with fuck you money and buy the most expensive cars on the market just for fun.