White House Plans to Spend Billions on Electric Chargers

<div><img width="797" height="1200" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/02/avenue-trees-beside-reflecting-pool-washington-dc-1-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Biden and electric chargers" loading="lazy" srcset="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/02/avenue-trees-beside-reflecting-pool-washington-dc-1-1.jpg 797w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/02/avenue-trees-beside-reflecting-pool-washington-dc-1-1-199×300.jpg 199w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/02/avenue-trees-beside-reflecting-pool-washington-dc-1-1-680×1024.jpg 680w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/02/avenue-trees-beside-reflecting-pool-washington-dc-1-1-768×1156.jpg 768w" sizes="(max-width: 797px) 100vw, 797px" /></div><h1><span>White House Plans to Spend Billions on Electric Chargers </span></h1>
<p><span>This week, the White House unveiled a plan to allocate $5 billion to states to fund electric vehicle chargers. The Biden administration plans to allocate $5 billion as part of the bipartisan infrastructure spending that includes $7.5 billion to build a sprawling network of EV charging stations across the <a href="https://www.financebrokerage.com/apple-could-launch-new-products-in-march/" target="_blank" rel="noopener">country</a>.</span></p>
<p><span>His administration touted electric vehicles as more affordable for Americans than gas-powered cars. The White House pledged that half the vehicles sold in the U.S. will be electric or plug-in hybrids by 2030.</span></p>
<p><span>The new guidance will help states to create a network of EV charging stations along designated alternative fuel corridors on the national highway system according to senior administration officials.</span></p>
<h2><span>Electric chargers and new opportunities </span></h2>
<p><span>Electric vehicles gained popularity in the country. The U.S. is the world’s third-largest market for EVs behind China as well as <a href="https://www.financebrokerage.com/how-european-union-plans-to-change-the-global-chip-market/" target="_blank" rel="noopener">Europe</a>. Nevertheless, the transportation sector remains one of the largest contributors to U.S. greenhouse gas emissions. </span></p>
<p><span>The program to build out electric charging stations could save an average driver who uses an electric vehicle up to $1,000 each year on gasoline according to Biden. </span></p>
<p><span>Tritium is set to build a manufacturing facility in Tennessee. Its facility will produce up to 30,000 electric chargers each year and create 500 local jobs.</span></p>
<p><span>Importantly, states must submit their EV infrastructure deployment plans to the Joint Office of Energy and Transportation by August 1. The Federal Highway Administration (FHWA) will approve eligible plans by September 30. </span></p>
<p><span>On Wednesday, officials stated that they will unveil guidance on the other $2.5 billion for EV charging stations later this year. That funding will involve discretionary grants for the corridor as well as community EV charging. </span></p>
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