Almost unbelievable hypocrisy there, celebrated by the kumbaya, is that EV growth in pristine Norway is funded by them pumping $quillions of barrels of oil to ROW!
Norway's Sovereign Wealth Fund has just topped $1Trillion dollars holding 1.3% of the planet's stocks & bonds. Norway's extraordinary wealth (pumping oil ROW) and low population base has facilitated an extraordinary level of EV subsidy domestically:
"
all-electric cars and utility vans are exempt in Norway from all non-recurring vehicle fees, including purchase taxes, which are extremely high for ordinary cars, and 25%
VAT on purchase, together making electric car purchase price competitive with conventional cars.
Electric vehicles are also exempt from the annual
road tax, all public
parking fees, and
toll payments, as well as being able to use
bus lanes."
Vast majority of countries use a mix of these charges to (barely) fund roads & infrastructure, how's that going to work outside a handful of countries like Norway, Singapore, etc? Totally unsustainable by any stretch of the imagination, and exactly why subsidies are being slashed in major mkts.
Summary of subsidies by country:
https://www.inverse.com/article/51127-8-best-european-countries-for-electric-carsChart below 2014 data but remains relevant as to why Norway particularly is NOT a template for BEV. Firstly note the GDP/capita clearly showing Norway at least 30% higher than any other of the majors, secondly the very direct correlation registrations to subsidies that are clearly unsustainable, unless you are pumping massive amounts of oil ROW.
The UK provided a very stark example of what happens immediately subsidies are cut, for abuse in the case of PHEV resulting sales tanking 50% H1 over 2018:
https://www.smmt.co.uk/2019/07/bump-in-the-road-to-zero-as-low-emission-car-demand-reverses-in-june/The very same thing has happened in China particularly, and the US, July sales, China off 50% and US reporting first YoY monthly fall.
Note YoY globally tracking OK to June but post subsidy cuts China & US July is going to be ugly and August worse on available data, with Tesla having filled its pre order book in the US last year and EU this year those H2 targets are going to be a big ask. Then China abolishes subsidies EOY and Tesla loses the last of its US subsidy, 2020 will be a brave new world for uneconomic BEV, going to get very ugly among the 457 Chinese BEV start ups.
https://insideevs.com/news/362819/ev-sales-scorecard-july-2019/
(20min delay)