New study names most ambitious EV markets

A new study by Compare the Market Australia has outlined the countries that will ban the sale of new petrol and diesel vehicles at the earliest.

The car insurance experts found Norway unsurprisingly leads at phasing out the sale of new internal combustion engine (ICE) passenger vehicles and hybrids from 2025.

 Singapore and Iceland will follow in 2030. The former will ban the sale of new diesel-powered vehicles in 2025.

In the EV sales race, all 27 countries in the European Union, the United Kingdom, certain states in the United States, Canada and Thailand have committed to 100% zero-emission new vehicle sales from 2035.

Compare the Market’s EGM of General Insurance, Adrian Taylor, said new EV sales mandates will not just impact a single country.

“As countries phase out the sale of new petrol and diesel vehicles, it will have a flow-on effect on other markets – particularly from major auto manufacturing hubs including Japan, China, Thailand and Europe,” Taylor said.

“Motorists will still be able to drive their existing combustion engine vehicle and buy used fuel-powered models.

“These mandates will only help expand the availability of more electric vehicles globally, allowing drivers to access cheaper running costs and greater model choice – albeit at a generally higher purchase price.”

https://www.comparethemarket.com.au/car-insurance/features/electric-car-targets–2025/