Denmark has agreed to a deal with its parliament to put at least 775,000 electric or hybrid cars on its roads by 2030. The initiative is part of its latest move to reach its target of reducing gas emissions by 70% in that time.

The government of Denmark also announced a more audacious target of having as many as one million low or zero-emission cars on the road by 2030. However, this current deal would secure financing for the first 775,000 cars.

Denmark has around 20,000 electric cars on its road. The number is a mere fraction of the 2.5 million cars currently on Danish roads.

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The deal means that taxes and levies on cars propelled by fossil fuels will gradually increase. Also, taxes on new cars will depend on how much carbon dioxide they emit. This deal replaces its old system of calculating tax based on cars’ mileage.

“The average electric car will be significantly cheaper in the coming years,” Tax Minister Morten Boedskov said.

Under the plan, the Danish government will spend $407.62 million to develop measures to have up to one million zero-emission cars by 2030.  The plan will be evaluated and reviewed again in 2025.

The plan is propelled by earlier recommendations of the Danish Climate Council. It would reduce greenhouse gas emissions by more than 2 million tons; banning the sale of vehicles powered by fossil fuel breaches EU regulations. However, Danish authorities say they are committed to the EU goal of phasing them out by 2030.

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