During a visit to the Detroit auto show on Wednesday, President Biden highlighted his administration’s initiatives to promote electric vehicles and announced hundreds of millions of dollars to build roughly 500,000 charging stations across dozens of states.
In order to promote the gigantic new climate, tax, and healthcare package that provides tax benefits for purchasing electric vehicles, Mr. Biden arrived at the enormous North American International Auto Show. He greeted union workers, CEOs, and local authorities while touring a variety of hybrid, electric, and combustion automobiles made in the United States by Chevrolet, General Motors, Ford, and Stellantis.
$900 million was approved for the construction of EV chargers along the nation’s highway system
Even while Mr. Biden has been given credit for the recent surge of battery and assembly plant announcements for electric vehicles, the majority of them were already in the works before the Inflation Reduction Act was passed on August 16. The 2021 infrastructure bill proposed by Mr. Biden, which allocates $5 billion over five years to assist states in developing a network of EV charging stations, maybe a factor.
Biden revealed in Detroit that the first $900 million in infrastructure funding had been approved for the construction of EV chargers along 53,000 miles of the nation’s highway system and in 35 states.
“The great American road trip is going to be fully electrified. Whether you’re driving coast to coast along I-10, or on I-75 here in Michigan, charging stations will be up and as easy to find as gas stations are now,” the president said in remarks to a crowd of autoworkers and supporters.
According to the bill, in order to qualify for a new federal tax credit of up to $7,500, electric vehicles must be manufactured in North America. The credits are intended to establish a U.S. supply chain for electric vehicles and eliminate reliance on foreign nations, primarily China.
In Warren, Ohio, a GM battery plant has already begun producing. GM’s battery plants will be built with the aid of a government loan announced in July.
In May, Hyundai announced the construction of battery and assembly facilities in Georgia, while in July, VinFast, a Vietnamese manufacturer, announced the opening of facilities in North Carolina. Although they were planned for months, Honda and Toyota both announced U.S. battery plants after the legislation was approved.
Despite the high cost of batteries, car companies are introducing more cheap electric solutions. The newest model, a Chevrolet Equinox small SUV, was released by General Motors last week. It starts at roughly $30,000 and has a 250-mile range on a single charge. If buyers pay more, they can have a 300-mile range.
