Biden admin announces $2.5B in grants for EV chargers
Department of Transportation said it was a step toward a national network
Mercedes-Benz selects Wolfspeed's silicon carbide devices to power future EVs
Wolfspeed CEO Gregg Lowe discusses the company's partnership with Mercedes-Benz and the future of the electric vehicle market on 'The Claman Countdown.'
The Biden administration announced $2.5 billion in new grants on Tuesday toward the construction of electric vehicle charging stations and alternative fueling infrastructure.
The move was aimed, in part, at increasing access in underserved neighborhoods and communities. The grants also have an emphasis on highway chargers.
Under the Charging and Fueling Infrastructure Discretionary Grant Program, the money will be given over a five-year period.
The Department of Transportation said it was a "key step" toward President Biden's goals of building a national network of 500,000 public EV charging stations and reducing national greenhouse gas emissions by 50%–52% by 2030.
HONDA ACCORD MOVING OUT OF OHIO HOME AFTER 4 DECADES TO MAKE ROOM FOR EVS
An Electrify America Charging Station for electric vehicles is seen at Westfield Old Orchard shopping center in Skokie, Ill., on Jan. 29, 2023. ((AP Photo/Nam Y. Huh, file) / AP Newsroom)
The department did not specify how many chargers it expects to help build off the latest round of funding.
Transportation Secretary Pete Buttigieg speaks during a press conference in San Francisco, California, on Jan. 23, 2023. ((Photo by Tayfun Coskun/Anadolu Agency via Getty Images) / Getty Images)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
"By helping bring EV charging to communities across the country, this Administration is modernizing our infrastructure and creating good jobs in the process," Transportation Secretary Pete Buttigieg said in a statement. "With today’s announcement, we are taking another big step forward in creating an EV future that is convenient, affordable, reliable and accessible to all Americans."
CLICK HERE TO READ MORE ON FOX BUSINESS
"Extending EV charging infrastructure into traditionally underserved areas will ensure that equitable and widespread EV adoption takes hold," Secretary of Energy Jennifer Granholm said. "Ensuring that charging stations are more visible and accessible in our communities addresses the concerns many American drivers have when considering making the switch to electric."
Energy Secretary Jennifer Granholm speaks during a meeting with Secretary of State Antony Blinken, European Union High Representative for Foreign Affairs and Security Policy Josep Borrell Fontelles and European Commissioner for Energy Kadri Simson at (Andrew Harnik/Pool via REUTERS/File Photo / Reuters Photos)
The Associated Press contributed to this report.