Electrification is poised to revolutionize the global transportation sector, turning it from an industry that’s responsible for one-third of the world’s greenhouse emissions to a zero-emissions space. As several countries across the globe have revealed plans to replace internal combustion engine (“ICE”) vehicles with electric vehicles (“EV”), authorities and automakers are working to make this dream a reality. The nascent EV sector still has plenty of barriers before it can fully replace ICE cars, and a partnership between governments and the private sector is crucial if we are to achieve our emission standards and climate change goals.
A recently announced plan by five Midwestern states to join forces in their quest to electrify their roads has the potential to do so and propel the region to the forefront of America’s electric vehicle industry. Dubbed the Regional Electric Vehicle Midwest Coalition (REV Midwest), the plan will see Indiana, Illinois, Minnesota, Michigan and Wisconsin partner to set up a public network of EV charging stations.
Since insufficient charging infrastructure coupled with range anxiety are among the largest obstacles to mass EV adoption, this partnership has the potential to boost the adoption of zero-emission electric vehicles in the region. The bipartisan project is aimed at improving public health by cutting down on toxic emissions that cars, buses and trucks release, as well as boost the region’s economy by creating a plethora of new jobs.
According to REV Midwest’s backers, the plan will put the Midwest on the map and help the region compete for federal funding and private investment. Michigan Governor Gretchen Whitmer says the partnership reflects “bipartisan efforts” to shape the future of transport as well as electrify and connect communities in the region. The plan will help the Midwest region of the nation to reduce greenhouse gas emissions, lead the charge in EV adoption, spur innovation, and create new, well-paying employment opportunities. Given just how vital transportation is to America’s economy, Governor Eric Holcombe of Indiana says the country needs electric vehicle charging infrastructure to “futureproof” the transportation system and support an influx of electric cars on the roads.
The quintet of governors have appended their signatures to the REV Midwest Agreement, which lays out the region’s strategy for achieving its green-energy goals, which include electrifying medium- as well as heavy-duty fleets, elevating economic growth and industry leadership, ridding the environment of pollutants, and advancing equity. This agreement has come at an opportune time as President Joe Biden has indicated that he plans to build 500,000 public EV charging stations if his administration’s $1 trillion infrastructure bill is passed.
If the governors implement this agreement, the deepened charging infrastructure will ease the work of companies such as DSG Global Inc. (OTCQB: DSGT) that are engaged in distributing several makes of electric vehicles.
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