Hyundai to Sell Only Electric Vehicles in Norway This Year

Hyundai Motor Co has announced that it will only sell electric vehicles (EVs) in Norway this year. The company has set a goal to make a significant impact in the Scandinavian country by 2023 and will stop selling plug-in hybrid electric vehicles (PHEVs) at the end of 2022. This will mark Hyundai's first foray into the global market with only electric vehicles.

According to a Hyundai executive, "Our European branch has decided to sell electric vehicles only in Norway, and the head office in Seoul has confirmed this."

This move by Hyundai shows a commitment to reducing emissions and supporting the shift toward electric transportation. Norway has been a leader in the adoption of EVs, with over 50% of new car sales being electric in 2020. By offering only EVs in the country, Hyundai hopes to capitalize on the growing demand for electric vehicles and contribute to the country's efforts to reduce emissions.

In line with its global goals, Hyundai has already announced plans to stop selling internal combustion engine vehicles in Europe by 2035 and to sell only electric vehicles globally by 2040. However, its decision to stop selling diesel cars in Norway has delayed its original plan in the country by 12 years. Despite this delay, Hyundai's decision to focus on electric vehicles in Norway makes sense, as the country has been a pioneer in the adoption of EVs.

Norway is offering various incentives with the goal of converting all new car sales to electric vehicles by 2025. This, combined with the country's strong demand for EVs, makes it a prime market for automakers looking to make the transition to electric. By only selling electric vehicles in Norway, Hyundai hopes to capitalize on this demand and contribute to the country's efforts to reduce emissions.

As of November, an impressive 81.6 percent of new cars registered in Norway were electric, indicating that the country is making significant progress towards its eco-friendly goals. Prior to this, plug-in hybrid electric vehicles (PHEVs) were the main type of electric vehicle sold in the Norwegian market, accounting for 17.4% of the market as of November 2020. However, their sales share fell to 7.7 percent last year, as electric vehicles took over the top spot. In the same period, hybrids made up 7.3 percent of the market, while diesel vehicles accounted for just 2.2 percent.

These figures show a clear shift towards electric transportation in Norway, and Hyundai's decision to only sell electric vehicles in the country aligns with this trend. As more and more consumers opt for electric vehicles, it is likely that other automakers will follow Hyundai's lead and prioritize the sale of electric vehicles in Norway.