Facebook Twitter

President Biden rolls out $5 billion in funding for electric vehicle chargers

The U.S. Department of Energy and Transportation announced that it will roll out $5 billion over the next five years to help build charging stations for electric vehicles

SHARE President Biden rolls out $5 billion in funding for electric vehicle chargers
A Tesla car plugged charges.

A 2021 Model 3 sedan charges at a Tesla dealership in Littleton, Colo., on June 27, 2021. The U.S. Department of Energy and Transportation announced on Thursday that it will roll out $5 billion over the next five years to help build charging stations for electric vehicles.

David Zalubowski. Associated Press

Charging stations for electric vehicles are few and far between, unlike gas stations. But that may change soon if President Joe Biden’s plan is successful.

According to Reuters, the U.S. Department of Energy and Transportation announced on Thursday that it will roll out $5 billion over the next five years to help states set up more charging stations for electric cars in an effort to hit zero emissions from vehicles.

  • The goal is to have 500,000 public charging stations by 2030. Roughly 100,000 are available at the moment, per Business Insider.
  • Under this National Electric Vehicle Infrastructure Formula Program, all states must submit a plan on how they will deploy the funds to the Joint Office of Energy and Transportation by Aug. 1.
  • All eligible plans will be approved by Sept. 30.

“The President’s Bipartisan Infrastructure Law will help us win the EV race by working with states, labor, and the private sector to deploy a historic nationwide charging network that will make EV charging accessible for more Americans,” said Transportation Secretary Pete Buttigieg, per Scientific American.

Per CNBC News, Biden, during a speech earlier this week, said: “It’s going to help ensure that America leads the world on electric vehicles.”

  • “China has been leading the race up to now, but this is about to change,” he added.
  • “Because America is building convenient, reliable, equitable national public charging networks. So wherever you live, charging an electric vehicle will be quick and easy.”