White House Welcomes $700M Private US Investments In EV Charging
The White House has announced several private US investments worth a combined $700 million that will help develop the country’s EV charging network.
The Biden Administration says these “record-breaking private US investments” will help build 250,000 chargers per year, create more than 2,000 good-paying jobs and make EV charging “more affordable, accessible, and equitable.”
The private investments will follow the $7.5 billion from President Biden’s Bipartisan Infrastructure Law to build a national network of EV chargers that will enable “convenient and uniform charging at home, work, and across the country.”
“Today’s announcements demonstrate how the President is catalyzing private investment to boost our domestic manufacturing capacity, enabling America to create a national network of chargers and create thousands of new high-quality, union jobs building, installing, and maintaining it. Today, the auto industry renaissance continues as the private sector steps up to invest in American-made charging across the country.”
White House press release
By far the most significant private investment highlighted by The White House is the $450 million pledged by Siemens and Volkswagen Group to further boost Electrify America’s expansion. The investment will support the rapid deployment of up to 10,000 ultra-fast chargers at 1,800 charging stations, exceeding the number of high-power chargers available in the United States today.
Separately, Siemens has pledged $250 million in the last six months to expand its Grand Prairie (Texas) and Pomona (California) manufacturing sites. The German company is on track to build 1 million EV chargers in the US over the next four years.
The press release also mentions ABB E-mobility, which is adding 125 jobs across its operations this year alone, including at two new facilities in Sugarland (Texas) and Southern California, and ChargePoint, which will create some 250 jobs at its Milpitas (California) facility to build Level 2 chargers.
Private investments also include FLO, which has pledged $3 million to build its first US facility that will assemble charging stations and fast chargers in Auburn Hills, Michigan, and Tritium, with 500 new jobs created to accelerate the production schedule to manufacture DC fast chargers in Q3 2022.
The White House also applauds Tesla’s investments at its Gigafactory in Buffalo, New York “to support the deployment of new fast charging stations to add to its fast-charging network.” The release adds that later this year Tesla will begin production of new Supercharger equipment that will enable non-Tesla EV drivers in North America to use Tesla Superchargers.
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