U.S. President Joe Biden has earmarked $900 million to expand the network of electric vehicle (EV) charging stations across the country.
“I’m pleased to announce that we’re approving funding for the first 35 states, including Michigan, to build their own charging infrastructure throughout their state,” Biden said at the Detroit Auto Show.
The $900 million will be coming from the Bipartisan Infrastructure Law, which invests $7.5 billion to build a national network of 500,000 EV chargers across 35 states.
Additionally, the Inflation Reduction Act and CHIPS and Science Act will help boost the growth of EV manufacturing in the United Stated.
President Biden’s economic agenda, including robust new “Made in America” policies, has spurred domestic manufacturing of EVs, EV chargers, and batteries. Since Biden took office, companies have invested nearly $85 billion in manufacturing of electric vehicles, batteries, and EV chargers in the United States.
Biden has been a big proponent of EVs, signing into law incentives to encourage consumers to buy them and companies to build them.
“It used to be that to buy an electric car you had to make all sorts of compromises, not today,” Biden said. “Look, 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 easy to find as easy as they are now.” Biden also said that his administration has put $135 billion toward electric vehicle development and creation.
Companies like Toyota, Honda, Ford Motor Company, General Motors, and Panasonic have announced investments in manufacturing in North Carolina, Michigan, Ohio, Missouri, Kansas, and elsewhere.
Some new and recent example investments in the EV supply chain include:
EV and Battery Manufacturing
- Toyota announced additional $2.5 billion investment in a Greensboro, North Carolina manufacturing facility.
- Honda and LG Energy Solution announced $4.4 billion joint venture in the U.S.
- Ford Motor Company will invest $3.7 billion in assembly plants in Michigan, Ohio and Missouri and create 6200 jobs.
- Panasonic announced a $4 billion plant in De Soto, Kansas that will create 4,000 jobs.
- Vinfast announced a more than $5 billion investment in building electric vehicles and batteries in North Carolina that will create 13,000 jobs.
- Hyundai announced a $5.5 billion investment to build electric vehicles and batteries near Savannah, Georgia
- Through DOE’s Advanced Technology Vehicle Manufacturing program, the Department of Energy announced a $2.5 billion loan in July 2022 to General Motors for battery manufacturing facilities in Ohio, Tennessee, and Michigan.
- Samsung SDI America is investing $3.1 billion in Kokomo, Indiana to build batteries in a joint venture with Stellantis.
Battery Material Processing
- Piedmont Lithium announced a $582 million investment to establish a lithium hydroxide processing, refining, and manufacturing facility in Southeast Tennessee.
- Cirba Solutions, a battery recycling company, is announcing a new $200 million expansion of a lithium-ion battery recycling facility in Lancaster, Ohio and a goal to expand battery recycling by over 600%
Electric Vehicle Charging
- ABB is announcing a new EV charging manufacturing facility in Columbia, South Carolina capable of producing up to 10,000 chargers per year.
- Lincoln Electric announced a new line of DC fast chargers in Cleveland, Ohio.
- GM, in a partnership with Delta Electronics and EVgo will invest $750 million in EV charging infrastructure, including at Pilot and Flying J truck stops and gas stations.
