H. Yoo
Research expert covering South Korea
Electric vehicles in Sweden - Statistics & facts
In March 2024, Swedish climate tech unicorn start-up Northvolt opened an electric car battery plant in Germany. The startup, which was the only European company among the five most highly valued climate tech unicorns in 2024, represents only one aspect of Sweden’s growing electric vehicle industry. Battery-electric car sales rose in the country in 2023, following a pattern of consecutive growth recorded since at least 2010. Sweden was the largest market in the Nordics for electric vehicles based on sales volume and among the countries with the highest market share of electric vehicles in Europe. However, while the country is taking active strides to decarbonize its transport sector, various challenges impact the EV market.
