Home » Market News » DirectorsTalk Highlights » Norway sees boom in electric cars, fueled by the government
Rainbow Rare Earths Plc

Norway sees boom in electric cars, fueled by the government

A silent revolution has transformed driving in Norway.

Eerily quiet vehicles are ubiquitous on the fjord-side roads and mountain passes of this wealthy European nation of 5.3 million. Some 30 % of all new cars sport plug-in cables rather than gasoline tanks, compared with 2 % across Europe overall and 1-2 % in the U.S.

As countries around the world, including China, the world’s biggest auto market is trying to encourage more people to buy electric cars to fight climate change, Norway’s success has one key driver: the government. It offered big subsidies and perks that it is now due to phase out, but only so long as electric cars remain attractive to buy compared with traditional ones.

 

Rainbow Rare Earths Ltd (LON:RBW) is a mining company focussed on production from, and expansion of, the high grade Gakara Rare Earth Project in Burundi, East Africa. With in-situ grades in the range of 47-67% Total Rare Earth Oxide (TREO), Gakara is one of the world’s richest rare earth deposits.

To read the full news article please click here

Receive our exclusive interviews – Enter your email to stay up to date.

Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.