Saturday, October 1, 2022

Biden Spends $5B For Electric Vehicle Chargers

 Biden announced $900 million to build 500,000 charging stations

  • First tranche of $5 billion in infrastructure money over five years
  • Will be used to build electric vehicle chargers in 35 states
  • Carmakers have ramped up efforts to make more electric vehicles
  • Ford started building electric pickup trucks at a new Michigan factory
  • General Motors is using an old factory in Detroit to make electric Hummers and pickups
  • They're also making batteries

Price

  • Most EVs are more expensive than gas powered vehicles
  • Average price recently hitting $66,000, whereas gasoline-powered cars average $48,043
  • Various tax credits are available for buyers of EVs, but the price is still staggering
  • For people struggling to pay their bills amid high inflation, the price puts EVs completely out of reach

https://www.realclearwire.com/articles/2022/09/27/biden_spends_5b_for_electric_vehicle_chargers_855080.html

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