Biden administration releases $5 billion plan for EV charging network

The Biden administration revealed its plan to award nearly $5 billion to build EV charging stations across the United States.

The almost $5 billion is part of the broader $1 trillion infrastructure bill passed through Congress in November.

The White House will make $615 million available in 2022. However, states must submit plans to win federal approval and funds.

Although the Biden administration made it clear that the federal government will not dictate how states use the money.

As per the US Transportation Secretary, the administration wants to ensure the states meet a basic standard.

The Biden administration released guidance to help the states, they note:

  • Priority should be investments along interstates.
  • States should fund DC fast chargers, and stations should have four charging ports capable of charging four cars simultaneously.
  • States should install EV charging infrastructure very 50 miles along interstate highways.
  • Federal funds will cover 80 per cent of EV charging costs.

This money will help the United States reach the Biden administration’s 2030 EV goals. These goals include 50 per cent of all new vehicle sales being either EV or plug-in hybrid.

In addition, the 2030 goal includes having 500,000 EV chargers installed throughout the country.

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