Iceland is also second only to Norway in percentage of electric vehicles bought. Norway is number one with over 70 percent of new vehicles being electric (!) and Iceland is second with over 40 percent. And with some of the cheapest electricity in the world it's not too hard to see why electric cars would be popular there. (Even in other countries electricity is way Way WAY cheaper than gas, and the price doesn't fluctuate every single day like gasoline/petrol does)