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Trade Trends News
03-01-2025
According to data released by the Norwegian Road Federation (OFV) on Thursday, Chinese electric vehicles (EVs) have captured nearly 10% of Norway's new car sales in just five years.
Norway, a wealthy country, has been a global leader in the transition to electric vehicles, far ahead of most other nations. Unlike the European Union and the United States, Norway does not impose import tariffs on Chinese EVs.
Brussels and Washington have claimed that Chinese electric vehicles benefit from unfair subsidies, a statement that Beijing has denied. Western automakers have warned that they could be heavily impacted by the influx of cheap Chinese imports, although there are doubts about whether consumers would buy unfamiliar brands.
In Norway, the combined market share of Chinese manufacturers, including MG, a subsidiary of SAIC Motor (600104.SS), BYD (002594.SZ), and Xpeng Motors (9868.HK), has risen to 8.8% last year, according to Reuters’ calculations based on OFV data. This is an increase from 5.1% in 2023 and 4.1% in 2021, with these brands now ranking among the top 20 in sales.
The first Chinese electric vehicle to arrive in Norway was manufactured by MG and was shipped in January 2020, five years ago.
Kristina Bu, President of the Norwegian Electric Vehicle Association, stated, "The Norwegian car market is perhaps one of the toughest in the world. Competition is extremely fierce."
Starting from November 2024, the European Union will raise import tariffs on Chinese electric vehicles, with the share of Chinese EVs reaching 45.3%.
Norwegian Deputy Minister of Transport Cecilie Knibe Kroglund said, "We treat all countries equally." Norway is not a member of the European Union.
This move by the EU follows the U.S. decision to raise import tariffs on Chinese electric vehicles from 25% to 100% starting in 2024.
In 2023, China became the world's largest automobile exporter, with global electric vehicle sales reaching approximately 1.2 million units.
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