The White House released a statement that President Joe Biden will be attending the Detroit Auto Show on Wednesday to announce the approval of the first $900 million in funding to electrify America charging stations.
Congress has allocated aside $5 billion to be distributed to states over the following five years for a nationwide EV charging network. By 2030, Biden wants up to 50% of all new cars sold in the United States to be electric.
The White House estimates that less than 1% of new federal acquisitions in 2020 will be electric. EV purchases more than doubled in the first year of Biden’s administration, and this fiscal year, agencies have “acquired five times as many EVs as all of the last fiscal year.”
According to projections, the U.S. EV market will increase from $28.24 billion in 2021 to $137.43 billion in 2028, and Biden’s administration is doing its part to stimulate demand. Biden issued an executive order in December ordering the government to buy only electric vehicles or plug-in hybrids by 2027.