• 6 minutes Can the World Survive without Saudi Oil?
  • 8 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 12 minutes Iranian Sanctions - What Are The Facts?
  • 4 hours Judge Approves SEC Settlement With Tesla, Musk
  • 21 mins How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 1 min U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 3 hours Porsche Says That it ‘Enters the Electric Era With The New Taycan’
  • 2 hours EU to Splash Billions on Battery Factories
  • 5 hours Saudi Crown Prince to Trump: We've Replaced All Iran's Lost Oil
  • 5 hours Mexico State Oil
  • 5 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 4 hours Saudis Threaten Retaliation If Sanctions are Imposed
  • 33 mins Threat: Iran warns U.S, Israel to expect a 'devastating' revenge
  • 3 hours Dow logs 830-point loss
  • 36 mins China Thirsty for Canadian Crude
  • 3 hours Gold price on a rise...
Why Is This Little-Known Element Up Over 300%

Why Is This Little-Known Element Up Over 300%

Scalable sustainable energy storage has…

Hurricane Michael’s Impact On Gasoline Demand

Hurricane Michael’s Impact On Gasoline Demand

Hurricane Michael had a significant…

Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs

Norway

The government of the global leader in EVs adoption, Norway, proposed on Thursday to trim some of the tax breaks for the heaviest electric vehicles (EVs) in a move that—if implemented—would affect owners of cars such as Tesla Model X, for example.

In its 2018 budget proposal unveiled today, Norway’s right-wing minority government has included a proposal to change an exemption from the motor vehicle registration tax. The proposal “implies that only heavy electric cars, with a weight in excess of two tonnes, will be subject to motor vehicle registration tax,” the budget draft says.

“Electric cars will still be accorded significant advantages in comparison with cars running on fossil fuels. In addition, the Government proposes that electric cars be exempted from re-registration tax and traffic insurance tax,” says the 2018 budget proposal.

Norwegian media dubbed the tax on EVs weighing more than 2 tons the “Tesla tax” and have estimated that if approved, the abolishment of the tax break would raise the price of a Tesla Model X by US$8,850 (70,000 Norwegian crowns).

Last month, 29 percent of the new car sales in the country were EVs, with Tesla deliveries soaring.

Thanks to the ‘greencentives’, Norway has the highest per-capita number of electric cars in the world, with 215.6 EVs per 10,000 inhabitants, according to the IEA and the Financial Times.

The government’s “Tesla tax” proposal is seen by critics as undermining Norway’s status as a leader in clean vehicles adoption and penetration.

Related: Blockchain Tech As A Hedge Against Low Oil Prices

“This is a tax bomb. This is gambling with the whole electric vehicle market. It is a bad signal to send and will affect consumers,” Christina Bu, general secretary of the Norwegian Electric Vehicle Association, told the FT.

But others, like Andreas Halse, environmental spokesman for the opposition Labour party, argue that even if EVs are zero-emission, they still create traffic jams and damage roads because of their weight.

The minority right-wing government will need the support of other parties in Parliament to pass the budget bill.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • snoopyloopy on October 12 2017 said:
    Tesla prices their products to be competitive without needing a subsidy. This proposal will probably reduce sales of Teslas a little bit, but the overall EV market in Norway will certainly remain robust.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News