Norway has become a hub for Chinese electric cars, with their market share surging to nearly 10% of new car sales in just five years. The country’s favorable policies and lack of import tariffs have attracted numerous Chinese manufacturers, such as MG, BYD, and XPeng.
China’s electric vehicle (EV) exports have skyrocketed, with the country now the world’s top EV exporter, selling over 1.2 million units worldwide in 2023. The European Union and United States have imposed tariffs on Chinese EVs, but Norway has maintained its open approach, treating all countries equally.
Norway’s Deputy Transport Minister Cecilie Knibe Kroglund said the country is “not part of the EU” and therefore does not impose similar duties on Chinese EVs. This strategy has allowed Chinese EV manufacturers to gain a foothold in the market, despite Western automakers’ concerns about unfair subsidies and cheap imports.
The Norwegian EV association notes that the market is “probably one of the toughest in the world,” with fierce competition among brands. However, it appears that Chinese EVs have proven popular with buyers, contributing to their growing market share. As the EU increases its import duties on Chinese EVs from November 2024, it remains to be seen how Norway’s approach will continue to shape its electric vehicle landscape.
Source: https://bluewaterhealthyliving.com/news/business-and-economy/chinese-electric-vehicles-gain