Biden Suggests First Round of Financing for Nationwide Electric Vehicle Charging Network

DETROIT—USA The US is about to offer funds for states to begin building a network of electric vehicle chargers, President Joe Biden said in a speech here at the Detroit Auto Show.

“Today I am pleased to announce that we are approving funding for the first 35 states, including Michigan, to build their own statewide electric charging infrastructure,” Biden said. “And they are all going to be part of a network of 500,000 charging stations across the country, installed by IBEW,” the International Brotherhood of Electrical Workers.

Biden did not specify how much money this first round of funding will include, although it is reportedly $900 million. The money appears to be the first part of the $5 billion earmarked for a national electric vehicle charging network in 2021. infrastructure bill.

Joe Biden sitting in a Chevrolet Corvette Z06

Joe Biden sitting in a Chevrolet Corvette Z06

The goal is to make charging stations as “easy to find as gas stations,” Biden said. “The great American road trip will be fully electrified.”

Moving away from that, the larger goal is to rebuild America’s infrastructure and middle class through investments in clean energy. Biden made it clear that he sees this as the next chapter in domestic manufacturing and a way to reverse the decline experienced in recent decades.

“For most of the last century, we led the world with our cars,” Biden said. “But something went wrong along the way. We used to spend 2% of our GDP on research and development, and now it’s 0.7%. We’re watching the rest of the world go by.”

American-made electric vehicles and electric vehicle chargers are a key part of Biden’s strategy to revive the economy and the middle class. The $7,500 EV tax credit included in the Reduce Inflation Act of 2022 only applies to vehicles manufactured in North America (see list here).

“We are building a clean energy economy,” Biden said. “The middle class built America and the unions built the middle class. Nowhere is that more evident than here in Michigan, where we are building the future of the electric vehicle.”

of course he didn’t forget to mention that he is “a car man”. Before his speech, he also had the opportunity to walk through the Detroit auto show to see all the new electric vehicles announced at the show, from brands like Jeep and Chevrolet.

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