We at imove are proud to originate in a country that prioritizes electric adoption and incentivizes its countrymen to adapt to our future reality. Over the past decade in Norway, new electric vehicle (EV) purchases have gone from 1% to 65% and will pass 80% by the end of 2022. Our ultimate goal? 100% electric by 2025.
Recently, Christina Bu, the Norwegian EV Association secretary general, wrote an op-ed for Time Magazine as part of their series on concrete goals the world should strive toward in 2022 to combat the climate change crisis. In the essay titled, “What Norway Can Teach the World About Switching to Electric Vehicles,” Bu shared what Norway did to electrify its fleet.
What Norway did
Going electric is largely a political issue. It takes policy change and infrastructure funding to enable people to leave internal combustion engines in the past. Strong, long-term, demand-side policies have brought Norway to its current electric status. Here are some of the incentives and initiatives Norway has and continues to implement:
- No purchase/import tax on EVs
- Exemption from 25% VAT on purchases
- Lower road tolls
- Lower ferry fares
- Partial access to bus lanes
- Cheaper public parking
- Reduced company car tax
Bu acknowledges the political challenges many countries will face in taking measures like Norway. Still, she points to Sweden and New Zealand as examples of having good results with EV tax breaks and commends the UK and Germany for their rapid growth in EV market share, attributing their strides to good technology and investment.
Overcome EV uncertainty
Despite the push to go electric, buying an EV can be challenging. Buyers are often faced with uncertainty about which brand is right for them, fluctuating regulations, the dreaded range anxiety, lack of charging possibilities, long delivery periods, and high price tags; And with electric vehicle technology evolving rapidly, cars become outdated after only a few years. Enter, car subscription. Subscription service customers overcome EV uncertainty by having flexibility. At imove, we’re a strong ambassador for going electric and have taken sustainability one step further by promoting usership over ownership.
By subscribing to a car instead of buying or leasing one, customers have access to an entire fleet of vehicles, allowing them to try different models without the financial or binding commitment. In Norway, our EV car subscription service offers a flat monthly rate which includes no mileage limits, unlimited drivers, no binding time, full insurance, tire change, and even ten free upgrade days to a larger car. Not to mention, the car’s loss of value doesn’t burden car subscribers; Our technology uses data and advanced fleet optimization to mitigate depreciation, and the subscription customer pays a fixed monthly price, no matter what.
Business innovation can help
As the world strives to become more electric and tackle emission declarations like the COP26’s “All global new car and van sales will be 100% zero-emission by 2040,” more steps need to be taken, and business innovation can play a role in this; Whether that means developing products to combat climate change or offering an electric company car to employees through car subscription, new ways of thinking will help.
In her op-ed, Bu states that she believes no car manufacturer will produce cars with internal combustion engines after 2035. She reminds readers that the United Nations’ last climate report was called “code red for humanity” and says, “We are in a hurry when it comes to cutting emissions. So, when there are alternatives that are more than good enough, why not speed things up?”
imove offers a flexible EV car subscription service in Norway, Sweden, and the Netherlands that allows customers to have a car without the hassle for an all-inclusive fixed monthly rate. imove also enables marketplaces and fleet owners to offer car subscription through our Car subscription as a Service technology. Curious about having an imove EV subscription? Check out imove.no. Want to learn more about our technology and how to succeed with offering car subscription? Head to imovemobility.com.
To read Bu’s full Time Magazine op-ed click here.