President Biden to Announce $900 Million for EV Charging Stations
As the U.S. pushes forward to expedite the roll-out of electric vehicle (EV) charging stations, President Joe Biden is set to approve new funding for the first set of chargers in a national charging network.
President Biden is attending the Detroit Auto Show on Wednesday, and he’s expected to approve the first $900 million in funding to expand the U.S. EV charging network, according to the White House.
The funding will be dedicated to building EV chargers across 35 states, as one piece of the recently passed $1.2 trillion Bipartisan Infrastructure Bill, according to the White House.
U.S. House Passes Climate Bill Containing $7,500 EV Tax Credits https://t.co/JYPdjeFFTE
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Biden is also expected to talk about the “Made in America” policies in the Inflation Reduction Act guiding EV incentives, and to discuss the EV market’s batteries and manufacturing overall.
Another $5 billion from the bill was set aside for Congress to deploy directly to states over the next five years, as an additional way to help expand the charging network.
The moves are also a part of a larger goal for 50 percent of all vehicles sold in the U.S. to be electric by 2030.
Tesla was mentioned under the section on EV charging in the press release: “These investments are in addition to more than $700 million the White House announced in June, including new manufacturing facilities by ChargePoint, Flo, Siemens, Tesla, and Tritium.”
The White House also proposed a goal to reach 500,000 EV charging stations by 2030 in June, and it announced a $3.1 billion investment in May to help boost the U.S. EV battery market.