The Auto Future is Electric, According to Biden Administration

The Auto Future is Electric, According to Biden Administration

Intending to build a better America, the Biden-Harris administration released the Bipartisan Infrastructure Law to pave the path for a zero-emission future. The plan would focus on creating a cleaner and affordable car future and generating employment opportunities across the American supply chain. 

According to the law, a Joint Office of Energy and Transportation will be set up by the Department of Transportation (DOT) and the Department of Energy (DOE) to develop the infrastructure required for electric vehicles (EV). The department will collect guidance and information from stakeholders, manufacturers and industry leaders. 

"The Bipartisan Infrastructure Law makes the most transformative investment in electric vehicle charging in U.S. history that will put us on the path to a convenient and equitable network of 500,000 chargers and make EVs accessible to all Americas for both local and long-distance trips,” according to a White House press release. “The Bipartisan Infrastructure Law includes $5 billion in formula funding for states with a goal to build a national charging network. Ten percent is set-aside each year for the Secretary to provide grants to states to help fill gaps in the network.”

Through a competitive grant program, the law will also provide $2.5 billion to communities willing to support this initiative and ensure that the priorities like charging stations in rural areas and improving local air quality are being met. 

This most significant investment in EV charging will help people adapt to electronic vehicles faster by installing charging stations all over the nation. This will reduce carbon emissions, making America a net-zero emitting country by 2050. In addition to this, the project will also aid the disadvantaged communities by creating new opportunities for business and employment. 

Another focus of this project would be to manufacture EV batteries and components within the United States sustainably.

Approximately 727,000 EVs were sold in the United States in 2019, according to usafacts.org. That number tends to increase every year, and the majority are purchased with an auto loan versus paid for outright.