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EV Charging Network to Receive $5 Billion in Funding from the U.S. Government


In spite of stalled congressional efforts to provide substantial additional funding for EVs, the White House is urging Americans to shift away from gasoline-powered vehicles, Reuters reported.

States will have to submit plans and get federal approval before the administration will make $615 million available in 2022.

“We’re not going to dictate to the states how to do this, but we do need to make sure that there are meet basic standards,” U.S. Transportation Secretary Pete Buttigieg stated.

According to Buttigieg, the United States has different challenges for EV networks in rural and urban areas.

“It’s got to be customized, which is exactly why we have the states coming to us with plans rather than the other way around,” he said.

It is not Biden’s intention to phase out new gasoline-powered vehicle sales by 2030, but this has to come in place because of the state transition to electric and plug-in hybrid models, and to build 500,000 new EV charging stations.

According to a guidance issued by the Biden administration Thursday, those investments should be prioritized along interstate highways. In addition:

Read More: Keep an Eye on Your Bank Account. $1,100 in Stimulus Cheques Could Be Deposited This Week.

* States should fund DC Fast Chargers; stations should have at least four ports capable of simultaneously charging four EVs.

* States should install EV charging infrastructure every 50 miles along interstate highways and be located within 1 mile of highways.

* Federal funds will cover 80% of EV charging costs, with private or state funds making up the balance.

The White House endorsed legislation that would raise the $7,500 electric vehicle tax credit to $12,500 for vehicles made in the United States by unions, and create tax credits of up to $4,000 for used EVs.

In addition to the 30% credit, $3.5 billion will be spent on converting U.S. factories into electric vehicle factories, and $9 billion will be used by the Postal Service and federal government to buy EVs and charging stations.

Reuters quoted Jennifer Granholm as saying the government wants to “attract more charging companies to start here.”

Granholm responded to lawmakers’ concerns about fuel prices by saying “medium-term the shift to electric vehicles is to get ourselves away from the volatility of fossil fuels … We won’t be held hostage to solar power.”

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