Elon Musk Says Norway Has Played 'Major Role' In Supporting Advent Of Electric Vehicles

Tesla Inc. CEO TSLA Elon Musk has praised Norway for playing a "major role" in supporting the advent of electric vehicles.

What Happened: Musk was responding on Twitter to a report by Teslarati that showed Tesla owners are the most satisfied owners of electric vehicles in Norway. The report was based on a new survey from Norway’s Electric Car Association.

Musk also posted a picture that highlighted how the flags of several countries such as Indonesia, Poland, Finland, France, the Netherlands and Thailand can also be seen in the flag of Norway. The flag of the Scandinavian country is known as the “mother of all flags.”

See Also: What 3 Tesla Analysts Are Watching For In Q2 Earnings Report

Why It Matters: Tesla reported record deliveries for the second quarter earlier this month, partly reflecting strong sales in Norway – the only country where EV sales have outstripped the sales of traditional internal combustion vehicles.

According to the Teslarati report, Tesla’s Model 3 was the most popular EV in Norway in June, while the Model X and the Model S took the third and fifth positions in the survey. The Model 3 has been the most popular electric vehicle in the Nordic country for several months.

Nevertheless, Tesla is facing increased competition from other EV makers in Norway. The company’s China-based rival Nio Inc. NIO said last week it has dispatched the first set of its flagship ES8 electric seven-seater sports utility vehicles to Norway.

Xpeng Inc. XPEV, another Chinese EV maker, has been shipping electric vehicles to Norway since December and plans to drive expansion plans in Europe.

Price Action: Tesla shares closed 0.9% lower in Friday’s trading at $643.38.

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Photo by nakhon100 on Wikimedia