Electric cars

Electric cars occupy two-thirds of the Norwegian car market and Tesla leads the race

Sales of electric cars in Norway rose 48% last year, ensuring that nearly two in three new cars were battery-powered and making Texas-based Tesla the top-selling brand.

Seeking to become the first nation to end the sale of gasoline and diesel cars by 2025, petroleum-producing Norway is exempting battery-electric vehicles (BEVs) from taxes imposed on competitors using internal combustion engines ( ICE).

Tesla captured an 11.5% share of the global automotive market, making it the number one brand in a full year for the first time ahead of Germany’s Volkswagen with 9.4%.

The Tesla Model 3 is set to become the best-selling EV in Europe.

The U.S. automaker on Sunday announced record quarterly deliveries that far exceeded Wall Street estimates, overcoming global chip shortages as it ramped up Chinese production.

The company delivered more than 308,000 vehicles in the fourth quarter and saw deliveries increase by approximately 87%. In October, the electric vehicle maker exceeded $ 1 trillion in market capitalization for the first time.

“Great job from the Tesla team around the world! Tesla CEO Elon Musk tweeted on Sunday. He then tweeted: “Let’s make the Roaring Twenties happen!

The Tesla Model 3 was the most popular model of the year ahead of Toyota’s RAV4 hybrid, the only car in the top 10 with an internal combustion engine, and Volkswagen’s electric ID.4 in third place.

Tesla shares jumped 6% in pre-market trading on Monday, ahead of the first session of 2022.