The main objective of this paper is to develop a readiness index model that can serve as an analytical tool for exploring the achievements of the electrification of transportation systems. We have applied this readiness index model to evaluate the readiness positioning of China, Norway, and Sweden towards transportation electrification. We have chosen these three countries as they represent diversity among countries adopting electric transportation system solutions. Our developed readiness index model has four key dimensions: technological readiness, political readiness, societal readiness, and economic readiness. The embeddedness of all four dimensions in one model provides a multi-perspective way of analyzing and evaluating the readiness levels of countries moving towards transforming their transportation system. Therefore, we named the model a “multidimensional readiness index”. Our main conclusions are that political processes and decisiveness are the most important factors, followed by societal needs and economic ability, with the current technology as the fourth. Without the participation of dedicated and determined political decision makers, the other three factors are challenging to obtain. Political decision makers need to facilitate economic means to support the transformation in society and affected industries to balance the economic disadvantages of the electrically powered vehicle systems until they pass the cost disadvantage turning point. The development of relevant technology is no longer the significant barrier it was at the beginning of this transformation about 20 years ago. The technology for electrically powered transportation systems and devices is widely available now, although it is continuously evolving and being improved. Associated industries cannot be expected to initiate, finance, take risks, and take the lead in this global societal transformation without clear and strong political support.