Nordic Companies Lead the Transition to Electric Vehicles
Nordic companies are spearheading the adoption of electric vehicles (EVs) and cloud services, with Norway at the forefront: 89% of its new car sales in 2024 were fully electric, followed by Denmark (52%), Sweden (32%), and Finland (29%). Finnish companies like Kempower and Virta are benefiting from state support for charging infrastructure. Despite recent economic slowdowns, B2B SaaS companies are thriving by helping to reduce costs, while the EV sector faces new international competition.
Innovation and sustainability drive B2B growth in the Nordic countries
- Norway leads in automotive electrification: Nearly 9 out of 10 new vehicles sold in 2024 were electric.
- Finland excels in charging infrastructure: Kempower and Virta are growing with government backing.
- B2B SaaS is expanding: Software-as-a-service companies help others optimize costs in uncertain times.
- Global competition: New low-cost international companies are challenging Nordic firms in the EV sector.
Country-specific outlooks
Norway: a pioneer in vehicle electrification
With an 89% adoption rate, Norway sets the global standard for the energy transition in the automotive sector.
Finland: focus on technology and state investment
Finnish tech companies are capitalizing on public policies for sustainability and innovation.
Sweden and Denmark: sustained growth
Both countries show significant progress in EVs, albeit at different paces, driven by long-term strategies.
Conclusion
The B2B landscape in the Nordic regions reflects a strong inclination towards technological innovation and sustainability. Companies that align with these trends are well-positioned to lead in the global market.
