Nearly two years after President Joe Biden signed the bipartisan Infrastructure Investment and Jobs Act into law, significant funds have been allocated toward various infrastructure projects to push an expansion of electric vehicles.
“To date, the Federal Highway Administration has made available $2.38 billion in National Electric Vehicle Infrastructure Formula funding to help all 50 states, the District of Columbia and Puerto Rico build a national network of EV chargers,” an FHWA official told the Washington Examiner. In February, the Biden administration announced that all EV charging stations funded by the bill must be built in the U.S., and by July 2024, at least 55% of the price of all components must be manufactured domestically, too.The law allocated $7 billion for EV battery components including critical minerals and materials needed to produce the power system.
“It is a priority of the Administration to retain and increase good-paying jobs across the entire battery supply chain, including mineral processing, battery manufacturing for vehicles and storage, and recycling,” the notice from MESC said.