Volkswagen
Starting from January 1, 2024, the Wolfsburg house is expected to stop selling combustion cars in Norway. To make the official announcement will be the same number one of Volkswagen Norway, Harald A. Møller. With the officialization of the news, from January 1, 2024 the sale of combustion engines will be definitively stopped, including the sale of ICE and hybrid variants.Not surprisingly, the electrification process started by the Wolfsburg brand proceeds at a brisk pace thanks to the introduction of different models to the range of vehicles. If we refer to the data released so far, we note that in the last year more than 6,900 units of the 8,500 new registrations registered by the Volkswagen car manufacturer are fully electric vehicles; a total that represents about 81% of the total.
Let's not forget, however, the importance of the state incentives that governments have decided to make available for the purchase of electric vehicles. The Norwegian government had already made it official for some time that all new car registrations should have been electric by the end of 2025, but this goal could be anticipated by the decision taken by Volkswagen. As the report from the Institute of Transport Economics to which Ulf Tore Hekneby also refers, 50% of the car fleet could be electrified in 2036 if all current incentives are maintained, including the VAT exemption on electric cars. >
To date, there are not a few electric cars on Norwegian roads given that the share currently stands at around 18%. Let's not forget that Norway is the leading nation in terms of electric: electric cars in 2021 represented 64.5% but rose up to 80% in 2022.
Volkswagen makes big battery bet in Canada
Volkswagen plans to buy stakes in Canadian mines and mine operators, per a company director, and has signed a related MOU with the Canadian government.
Why it matters: This would help the German automaker ensure access to raw materials for battery production, including nickel, cobalt and lithium. It also would help VW sidestep new U.S. tariffs imposed by the Inflation Reduction Act.
Context: Fiat Chrysler parent company Stellantis in June bought into a lithium production group, while Chinese EV maker BYD reportedly was in talks to buy six African lithium mines. Tesla Motors in May floated the idea of buying a mining operation.
The bottom line, per Axios' Ben Geman: 'As automakers and policymakers plan for the EV transition and boost investments, the ability to source supplies is becoming an intense geopolitical competition and a logistical knot.'