In the US, a nationwide EV charging network may be possible in a matter of days.
The $5 billion National Electric Vehicle Infrastructure Plan was announced by the Biden administration on Thursday morning. Each state will have the money to build its own network under this ambitious plan.
The auto industry is embracing battery-powered vehicles. Over the past few years, dozens of zero-emission vehicles were announced. In 2021, EVs represented 9 percent of all global vehicle sales , according to The New York Times. However, the US has a smaller number of EVs, with only 3 percent of all new US vehicles being sold last year (the overwhelming majority were Teslas). This could be due to: Range anxiety. Even though charging your car is much easier than gassing up in Europe, it’s still not as simple as charging it.
This is what President Joe Biden hopes NEVI will do to change. This plan will use money from his $1 trillion infrastructure bill to make $5 billion available for states to build more charging networks in the next five-years. The plan is to make payments through 2026 with $615 million already set aside for 2022.
The program explicitly allocates 40 percent of funds to charging stations in economically disadvantaged areas in accordance with the Justice40 initiative. reports CNET Roadshow. This guarantees that EV charging will not be restricted to those who have the $129,990 to buy the Tesla Model S Plaid.
This $5 billion plan is only a beginning. A larger sum will be required to build a nationwide charging network. Officials from the Administration have admitted this, but they insist that the purpose of the investment will be to fill in gaps and stimulate further spending, particularly as EVs grow in popularity in the US.
Experts and industry analysts predicted that a Biden presidency would be beneficial for EVs . After less than a year, this is likely to be the case.
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