According to the White House, President Joe Biden will attend the Detroit Auto Show on Wednesday, 14 September and announce the approval of the first $900 million in funding to build electric vehicle charging stations in 35 states as part of the $1 trillion infrastructure bill.
Congress has set aside $5 billion to be distributed to states over the next five years for a nationwide Electric vehicle charging stations. Biden has set a goal of having up to 50% of all vehicles sold in the United States be electric by 2030.
In Detroit, Biden will almost certainly reiterate points made in the White House memo, such as how “Made in America” policies have encouraged domestic manufacturing of EVs, chargers, and batteries, with companies investing nearly $85 billion in electrification. In order for automakers and consumers to qualify for tax credits, the Inflation Reduction Act, which was signed into law in August, includes requirements for domestic vehicle and battery production.
The EV market in the United States is expected to grow from $28.24 billion in 2021 to $137.43 billion in 2028, with the federal government assisting in driving that demand under Biden’s leadership. Biden signed an executive order in December directing the government to purchase 100% EVs or plug-in hybrid EVs by 2027.
According to the White House, electric vehicles will account for less than 1% of new federal acquisitions in 2020. EV acquisitions more than doubled during Biden’s first year, and agencies have “acquired five times as many EVs as all of last fiscal year” this fiscal year.
While the Biden administration is promoting electrification, the government has yet to propose a plan to phase out gas-powered vehicles. However, funding the expansion of charging infrastructure should help address a major barrier to widespread EV adoption.