Norway’s Electric Car Revolution Spearheaded by the Richest

(Bloomberg) -- The perks of owning an electric car in Norway -- one of the world’s largest markets for electric cars -- are mostly enjoyed by the richest.

That’s according to a study released by Statistics Norway on Thursday, revealing that the likelihood of buying an electric car in Norway is almost double if you belong to the richest cohort of the population.

Almost half the cars sold in Norway are now electric.

Much of the success of electric vehicles in Norway is owed to generous tax incentives and exemptions from various fees. The surge in electric car sales even resulted in a shortfall in automobile taxes of about 3 billion kroner ($335 million) in this year’s budget.

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