US Govt to Shell out Billions For Nationwide Electric Vehicle (EV) chargers

US Govt Arranges Billions for New EV Charging Infrastructure

The Biden administration is planning to invest billions of dollars to create a nationwide network of electric vehicle (EV) chargers in the US, which will include high-speed chargers located no more than 50 miles apart on some 75,000 miles of the busiest highways and interstates across the country. The goal is to have 500,000 chargers in total, which is the Biden’s administrations climate policy target, which encompasses having 50% of all new US vehicle sales to be electric powered by the year 2030.

All models of EVs, including Tesla’s SuperChargers, will be able to hook into the federally-funded chargers, and there will be universal payment and identification methods for consumers. The chargers must be placed within a mile of state-designated electric vehicle corridors, which include some of the busiest roads in the US.

The federal guidelines on the EV charging network require certain basic amenities, like proper lighting, restrooms and signage, but states are giving preference to applicants who offer a broader menu of options, such as longer-term dining and services like barber shops or manicures. This is because surveys conducted by states show that consumers want amenities while waiting for the 20 to 40 minutes it takes to charge up their vehicles.

Companies such as ChargePoint Holdings Inc, EVgo Inc, and Tesla are expected to battle for the $1.5 billion first tranche of the $7.5 billion fund to build the charger network. Republican governors, such as Florida’s Ron DeSantis and Greg Abbott of Texas, have accused Democrats of overspending in Washington but have welcomed the federal dollars to build out their EV networks.

However, Wyoming is unlikely to have federally-funded chargers due to its rural nature, which the state says would result in the chargers being idle due to lack of demand. The fate of companies, cities, and utilities and the repercussions of this new network could have global consequences.

 

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