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Norway’s successful EV strategy should go worldwide

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In the race towards electric vehicle adoption, Norway emerges as the undisputed champion, boasting the highest adoption rate globally.

While the U.S. grapples with accelerating its transition to electric mobility, Norway offers a blueprint for success.

According to the Norwegian Road Federation, a staggering 82% of new car sales in Norway in 2023 were electric vehicles, a stark contrast to the 7.6% figure recorded in the U.S. during the same period, as estimated by Kelley Blue Book.

Even in China, the world’s largest auto market, EVs accounted for only 24% of new car sales in 2023, according to the China Passenger Car Association.

New cars

Ragnhild Syrstad, the state secretary of the Norwegian Ministry of Climate and Environment, articulates Norway’s ambitious vision: “Our goal is that all new cars by 2025 will be zero-emission vehicles. We think we’re going to reach that goal.”

Norway’s journey towards an EV utopia began in the 1990s when the government initiated incentives for EV purchases, including free parking, access to bus lanes, toll exemptions, and crucially, zero taxes on zero-emission vehicles.

Australia should follow Norway’s lead on EVs

However, it was the arrival of models from Tesla and other manufacturers approximately a decade ago that ignited widespread consumer interest.

Transport infrastructure

Not stopping at personal vehicles, Norway’s capital, Oslo, is electrifying its entire transportation infrastructure, from ferries and buses to semi-trucks and construction equipment.

Gas pumps and parking meters are being replaced by EV chargers, painting a picture of a futuristic electric ecosystem.

The country’s abundance of hydropower has facilitated this transition, ensuring a reliable and sustainable energy source to power EVs.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Is GenerativeAI transforming education?

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Educators today are facing an uphill battle, so what’s the solution?

Today’s educators are passionate, but they’re up against diverse classrooms and outdated teaching methods.

In this episode, Trevor Furness, Chief Revenue Officer of Octopus B-I discuss their efforts to transform education. #funding futures

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How AI is leveraging Amazon’s fast production

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Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates.

Amazon reported better-than-expected results for the last quarter, surpassing analysts’ estimates, driven by strong performance in its cloud computing and AI.

Ticker’s Ahron Young & Veronica Dudo discuss.

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Tech

Tesla is slashing prices to stay competitive

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Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.
Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.
On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.
Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.
The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.

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