Alarmed at the growing Chinese influence in the global electric vehicle (EV) market, US President Joe Biden has announced a five-year, $5 billion plan to ramp up the nation's patchy EV charging network.
The US Congress has approved $7.5 billion for EV charging infrastructure as part of the bipartisan infrastructure law, $5 billion of which will be available to states to create a "network of EV charging stations along designated Alternative Fuel Corridors, particularly along the Interstate Highway System", the administration said late on Thursday.
"It's going to help ensure that America leads the world on electric vehicles," Biden said earlier this week.
"China has been leading the race up to now, but this is about to change. Because America is building convenient, reliable, equitable national public charging networks. So wherever you live, charging an electric vehicle will be quick and easy," he added.
There are approximately 41,000 public charging stations in the US, with more than 100,000 outlets.
But the information around them is still patcy and intensely fragmented, especially for those who don't own a Tesla.
Earlier this week, in his first-ever public acknowledgement of Elon Musk-run Tesla's contribution to the world of electric vehicles (EVs), Biden said that the country is building a reliable national public charging network to counter Chinese challenge in the EV market.
"From iconic companies like GM and Ford building out new electric vehicle production to Tesla, our nation's largest electric vehicle manufacturer, to innovative younger companies, manufacturing is coming back to America after decades," he stressed.
Biden also touted GM's recent $7 billion investment in Michigan to ramp up electric vehicle production.
"Companies like GM and Ford are building more electric vehicles here at home than ever before," the President tweeted after the meeting.
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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