US DOT unveils EV charging station funding plan

The United States departments of Transportation (DOT) and Energy (DOE) have announced a Biden administration plan to inject up to $5 billion into America’s electric vehicle (EV) charging network.

The two departments say the funds will be made available under the new National Electric Vehicle Infrastructure (NEVI) Formula Program established by President Biden’s Bipartisan Infrastructure Law to build out a national EV charging network, an important step toward making electric vehicle (EV) charging accessible to all Americans.

Any shift from internal combustion engine (ICE) vehicles to EVs in the U.S. will involve changes in basic materials and recycling markets. According to the International Copper Association, EV charging stations, in particular, use an average of more than 1.5 pounds of copper each, boosting demand for the red metal.

The U.S. program will provide nearly $5 billion over five years to help states create a network of EV charging stations along designated “alternative fuel corridors,” particularly along the interstate highway system. States must apply to take part in the program.

“A century ago, America ushered in the modern automotive era; now America must lead the electric vehicle revolution,” says U.S. Transportation Secretary Pete Buttigieg. “The President’s Bipartisan Infrastructure Law will help us win the EV race by working with states, labor and the private sector to deploy a historic nationwide charging network that will make EV charging accessible for more Americans,” he adds.

Currently, U.S. demand for EVs as a percentage of total vehicles is well-behind the average of several European nations and China. Nonetheless, U.S. Secretary of Energy Jennifer M. Granholm says the infrastructure bill “is helping states to make electric vehicle charging more accessible by building the necessary infrastructure for drivers across America to save money and go the distance, from coast-to-coast.”

“Americans need to know that they can purchase an electric vehicle and find convenient charging stations when they are using Interstates and other major highways,” remarks Deputy Federal Highway Administrator Stephanie Pollack. “The new EV formula program will provide states with the resources they need to provide their residents with reliable access to an EV charging station as they travel.”