Biden's EV highway takes shape
STORY: The U.S. has plans to put hundreds of thousands of new charging stations across the country to meet the expected surge in electric vehicles hitting the roads, the biggest transformation of the U.S. consumer driving landscape in generations.
The Biden Administration has earmarked seven-and-a-half billion dollars to build the network, aiming for half-a-million stations, covering some 75,000 miles of the busiest interstates and roadways.
The massive investment in the EV charging stations is a major component of the Democratic president's climate policy and his goal of seeing EVs make up half of all vehicle sales in the U.S. by 2030.
$1.5 billion of the $7.5 billion to fund the charger network will head to states this year. Companies like ChargePoint Holdings Inc, EVgo Inc and Tesla are expected to do battle for the cash.
The stations need to be universal, serving all EV models. The stations could also anchor new retail: Charging an electric car can take 20 to 40 minutes, and state surveys show consumers want amenities such as manicures, food, and even showers while they wait.
Ohio is among the only states that have already begun seeking proposals. Officials told Reuters the Buckeye State has received 167 site proposals from 30 different firms.
While some Republican governors such as Florida's Ron DeSantis and Greg Abbott of Texas have accused Democrats of reckless spending on green energy projects, state applications show they have welcomed the federal dollars to build out their EV networks.
Florida, which lags only California in terms of electric vehicles and high-speed chargers, told the administration that under a moderate growth scenario officials expect at least 20 percent of vehicles in the state to be electric by 2040.