Sweden Electric Vehicles Market Overview
Sweden, with a population of 10.5 million, had almost 5 million vehicles registered in 2021. The automotive industry plays a central role in the Swedish economy, and according to Statistics Sweden, motor vehicles are Sweden’s largest export category and also the largest import category. In 2021, Sweden exported motor vehicles for a value of $20.5 bn, while imports amounted to $16,5 bn in 2021. According to the Swedish Innovation Agency, Vinnova, the automotive industry employs around 140,000 in Sweden, with 40,000 concentrated in the Västra Götaland county, where Volvo has its headquarters and production. Some 292,024 passenger cars were sold on the Swedish market in 2020, and the most sold brands were Volvo, Volkswagen, Kia, Toyota, BMW, Audi, Mercedes, Skoda, Renault, and Nissan.
Sweden is a leader in both the use and the production of alternative fuels and renewable energy and has, through the European Union, pledged to cut CO2 emissions by 40 percent by 2030 relative to 1990 levels. The Swedish government has also provided subsidies and vehicle tax cuts for purchasing environmentally friendly vehicles, which has caused a shift in sales from fossil-fueled vehicles to hybrid and electric vehicles. The Swedish government offers purchase subsidies for vehicles that release a maximum of 60 grams of CO2 per kilometer. Subsidies range from up to 70,000 SEK for new electric vehicles to 45,000 SEK for plug-in hybrids (reduced with 583 SEK for every gram of CO2 the car releases), and 10,000 SEK for natural/biogas vehicles. According to Mobility Sweden, there were 110,177 electric vehicles, 189,498 hybrid vehicles, and 39,542 natural/biogas vehicles registered in Sweden in 2021.
In 2015, the Swedish Innovation Agency Vinnova, the Swedish Research Council Formas, and the Swedish Energy Agency launched Drive Sweden, a Strategic Innovation Program that develops sustainable and safe mobility systems. The program facilitates research and development between stakeholders in the business sector, academia, and society. Some of the key focus areas are advanced driver assistance systems and autonomous driving. Swedish companies such as Volvo and Einride have put Sweden at the forefront of developing autonomous vehicle technology.
The Swedish Research Institute, RISE, has also launched several projects focusing on electric vehicles and wireless charging, and how environmentally friendly vehicles can further be implemented into the Swedish market. Other organizations such as MobilityXLab (CEVT, Ericsson, Polestar, Volvo Cars, Volvo Group, Veoneer, and Zenseact) supports startups by offering collaborations with the funding companies within the areas of connectivity, electromobility, autonomous enablers, sustainability, and security.
Trade Events: eCar Expo Gothenburg.