Nordic Companies Lead the Shift Towards Electric Vehicles

Nordic firms are at the forefront of electric vehicle (EV) adoption and cloud-based services, with Norway leading the trend: 89% of new car sales in 2024 were fully electric, followed by Denmark (52%), Sweden (32%) and Finland (29%). Finnish companies like Kempower and Virta are thriving thanks to government-backed EV charging infrastructure. Despite recent economic slowdowns, SaaS B2B firms are thriving by helping clients cut costs, while the EV sector faces growing competition from cost-efficient international rivals.

Innovation and sustainability drive B2B growth in the Nordics

• Norway leads in automotive electrification: Nearly 9 out of 10 new cars sold in 2024 were electric.
• Finland excels in charging infrastructure: Kempower and Virta are scaling with public investment support.
• Expanding B2B SaaS: SaaS companies help other businesses navigate cost-efficiency in uncertain times.
• Global competition: New low-cost international players challenge Nordic dominance in EV technology.

Outlook by Country

Norway: EV trailblazer

With an 89% EV adoption rate, Norway sets the global benchmark for automotive energy transition.

Finland: tech-driven with state support

Finnish tech firms capitalize on public policies promoting sustainability and innovation.

Sweden and Denmark: steady growth

Both countries are making solid EV progress, driven by long-term national strategies.

Conclusion

The B2B landscape in Nordic countries shows a strong alignment with tech innovation and sustainability. Businesses aligned with these trends are well-positioned to lead the global market.