Ranked! The Power Index
Norway sells oil to the world and buys almost no gasoline cars. Nepal is third. Japan, home of Toyota, is at 3%.
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The Power Index

Today's Ranking

The 10 Countries Where Electric Cars Dominate New Sales

The IEA published its Global EV Outlook 2026 in May. One in four cars sold worldwide last year was electric. In eight countries, it was more than half. The leader — Norway — is also one of Europe's largest oil exporters.

1 Norway
 
97%
2 Denmark
   
71%
3 Nepal
   
68%
4 Iceland
   
62%
5 Sweden
   
61%
6 Netherlands
   
58%
7 Finland
   
57%
8 China
   
53%
9 Belgium
   
44%
10 Vietnam
   
40%
Gold · #1    Above 60%    Below 60%
For Comparison
World 25%   |   USA 10%   |   UK 35%   |   Germany 30%   |   France 26%   |   India 4%   |   Japan 3%

Source: IEA Global EV Outlook 2026 (released May 20, 2026). EV share of new passenger car sales, 2025. Includes BEV and PHEV.

The subtle "golden hints" Trump keeps dropping (are you listening?)

Most people missed it. But if you go back and listen carefully, there's a pattern.

Trump didn't just mention gold once. He's dropped a series of sly hints that, when you line them up, paint a very clear picture.

He promised a "new American Golden Age." Most people took that as a slogan. What if it wasn't?

He warned that to fix the economy "there would be some pain." Most people assumed he meant tariffs. What if he meant something bigger?

His Treasury Secretary went on national television and said the administration plans to "monetize the assets on the balance sheet." The government's single biggest asset? 261 million ounces of gold valued at $42 an ounce on the books. Worth over $1.2 trillion at market prices.

There's legislation in his own party right now to revalue that gold. A Federal Reserve economist published a paper on how to do it. And central banks around the world are hoarding gold like they already know the ending.

One hint is a comment. Two is a coincidence. This many is a plan.

No president since Nixon has talked about gold this openly. And the last time a president acted on gold, FDR in 1934, it created one of the biggest wealth events of the century. Most Americans had no idea until it was too late.

The "pain" he warned about? It's coming for people who aren't positioned. The "Golden Age"? It's coming for people who are.

A free report called "The Great Gold Reset" connects every hint, every statement, every piece of legislation into one clear picture. And shows you how to get on the right side of it in about 15 minutes. No taxes. No penalties.

Ranked! The Power Index
What's Surprising

Nepal is third. GDP per capita is around $1,500. The country has no domestic auto industry. It imports nearly every car it sells. Yet 68% of new cars sold last year were electric — ahead of Iceland, Sweden, and every EU member except Denmark.

The mechanism is tax policy. Nepal charges roughly 80% customs duty plus 60–105% excise on a gasoline car. An entry-level EV pays 15% customs and 5% excise. The price gap is punishing enough that Chinese BYD models now outsell everything else. Nepal's EV sales grew more than fivefold between 2022 and 2025 — from about 2,500 to around 13,000.

Norway at #1 is the deeper paradox. The country has 5.5 million people and pumps about 2 million barrels of oil a day. It exports crude to half of Europe. It also buys almost no gasoline cars. In 2025, 97% of new registrations were electric. The oil pays for the welfare state; the welfare state pays for the EV subsidies. A tidy loop.

What's Not Surprising

Five of the top seven are Nordic or northern European. Cold weather used to be the argument against EVs. These countries proved the opposite. Charging infrastructure, tax incentives, and high fuel taxes did the work. Denmark jumped 15 percentage points in a single year — from 56% in 2024 to 71% in 2025 — after tightening its CO2 standards.

China at #8 is ranked by share, not volume. By volume, China dwarfs everyone. More than 13 million EVs sold in 2025. That is six out of every ten EVs sold on Earth. The country builds the cars, builds the batteries, and now builds the export machine. Vietnam at #10 is essentially a VinFast story — one domestic manufacturer selling 175,000 EVs in a year, almost single-handedly pushing the share to 40%.

Japan at 3% is the notable absence. Home of Toyota, Honda, Nissan — makers of more cars than almost any country — and barely a buyer of the electric ones. Japanese automakers bet on hybrids. That bet is aging.

Five Numbers Worth Remembering

20.7 million

Electric cars sold worldwide in 2025. One in four new cars. Five years ago, it was one in 25.

 

13,000

EVs sold in Nepal in 2025. Up from about 2,500 in 2022. A fivefold increase in three years.

 

6 in 10

Every electric car sold on Earth that was made in China. More than 13 million units in 2025.

 

3%

Japan's EV share of new car sales. Home of Toyota, Honda, and Nissan. Below India, below Thailand, below the world average.

 

210,000

Public charging points in the Netherlands. The fourth-most in the world, in a country smaller than West Virginia.

The Bottom Line

One of Europe's biggest oil exporters buys the most EVs per capita. Nepal, with $1,500 in GDP per person, is third. Tax policy is doing what technology alone could not.

What to Watch

The EU's 2035 target — a 90% cut in new-car emissions — is pulling European shares upward fast. Denmark's 15-point jump in one year is the proof. Two things could slow the trend: tariff wars on Chinese EV imports and battery-mineral supply chains tightening out of the DRC and Indonesia. The IEA projects the global EV share will reach around 28% by 2026. We'll be watching.

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