$1.5 billion released for charging stations for electric vehicles

A nationwide network of electric vehicle (EV) chargers covering approximately 75,000 miles of highway across the United States received final approval Tuesday from all 50 states.

In a press release, the Transportation Department announced that it had approved the Electric Vehicle Infrastructure Deployment Plans from 17 states. The National Electric Vehicle Infrastructure (NEVI) Formula Program funds for fiscal years 2022 and 2023 will now be available to all 50 states, the District of Columbia, and Puerto Rico, totaling more than $1.5 billion.

Five billion dollars will be provided over five years to help build EV chargers along interstate highways across the United States, roughly every 50 miles (80 kilometers).

As part of his infrastructure act, President Joe Biden established and funded the NEVI Formula Program to promote the use of electric vehicles, which are significantly more expensive than traditional fuel-burning cars.

According to automotive research company Kelley Blue Book, electric vehicles were priced on average over $66,000 in July 2022, while gasoline-powered vehicles were priced on average $48,182.

Reliability and range are also problems with EVs. One vehicle can be fully charged with a standard charger in a few hours. As part of the NEVI funding, higher-powered, faster charging stations must be installed along highways. However, even those take an hour or more to charge.

28 September 2022