White House Unveils $7.5 Billion EV Charging Plan

President Joe Biden made electrification and clean energy key components while campaigning, and after a year in office, he is keeping his promises. Most experts agree that human activity is heating up the planet. Since transportation is responsible for a significant portion of greenhouse gas emissions, adopting zero-emission vehicle technology can help bring carbon emissions down. However, America’s electric vehicle (“EV”) sector is held back by insufficient EV charging infrastructure; most EV chargers are concentrated in urban areas, and the fastest ones are only accessible to Tesla owners.

Biden’s administration has unveiled a plan that would finally see the president’s goal of building a nationwide network of electric vehicle chargers come to fruition. The EV Charging Action Plan outlines the steps government agencies are taking to help support the development and deployment of electric vehicle chargers. Congress has invested a whopping $7.5 billion in EV charging as part of the $1.2 trillion infrastructure plan signed into law in November. Some $5 billion will go to state transportation departments for the expansion of EV charging networks, and $2.5 billion will be used to help promote the adoption of zero-emission vehicles in rural and marginalized communities.

Speaking at an event in Brandywine, Maryland, Vice President Kamala Harris said that human-led climate change has snowballed into a climate crisis and “demands” immediate action. A great way to achieve net-zero emissions, she said, is by investing heavily in vehicles that produce zero emissions. The administration’s charging plan will ensure that once Americans begin adopting zero-emission vehicles en masse, there will be enough charging stations in the country to keep them running.

As per the Bipartisan Infrastructure Law, the Department of Transportation (“DOT”) and the Department of Energy (“DOE”) will set up the Joint Office of Energy and Transportation to handle the bulk of the work. This will include deploying electric vehicle infrastructure and collecting guidance and input from industry experts, manufacturers, workers and other stakeholders. The goal is to develop a reliable network of EV charging stations that can boost public confidence and serve hard-to-reach, disadvantaged and rural areas that would otherwise miss out on electric vehicle technology.

A few days ago Secretary of Transportation Pete Buttigieg and Secretary of Energy Jennifer M. Granholm unveiled the agency. Automotive Inc.’s Granholm called the Joint Office of Energy and Transportation a “significant milestone” in the administration’s electrification goals. Developing electric vehicle infrastructure will not only protect the country from the ravages of climate change, she said, but it will also make EV charging a lot more accessible and create plenty of new employment opportunities.

As EV charging becomes more accessible, manufacturers such as Lordstown Motors Corp (NASDAQ: RIDE) are likely to register increasing sales due to the higher rates of electric vehicle adoption.

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