The United States will provide $5 billion for the construction of electric vehicle charging stations

On Thursday, Feb. 10, President Joe Biden, the U.S. Department of Transportation (USDOT) and the Department of Energy (USDOE) announced that they would provide nearly $5 billion to build an electric vehicle charging network in the United States. The budget will be planned under the new National Electric Vehicle Infrastructure (NEVI) formula.

"A century ago, The United States ushered in the era of the modern automobile; now the United States must lead the electric vehicle revolution. The president's bipartisan infrastructure law will help us win the electric vehicle race by partnering with states, labor, and the private sector to deploy a historic nationwide charging network that will enable more Americans to charge with electric vehicles. U.S. Transportation Secretary Pete Buttigieg said.

Over the next five years, the plan will provide about $5 billion to states to develop electric vehicle charging stations. It will focus on building stations along the U.S. interstate highway system.

The $5 billion fund will focus on building electric vehicle charging stations along designated alternative fuel corridors (AFCs). For the past five years, the Federal Highway Administration (FHWA) has been seeking nominations from state and local officials to designate alternative fuel corridors. Currently, the FHWA has 125 nominations, including 134 interstate highways and 125 sections of U.S. highways or state roads. The AFC nomination includes 49 states and Washington, D.C., covering about 165722 miles of the national highway system.

The Biden administration has provided $615 million to states in fiscal year 2022 through the NEVI Formula program. States must submit plans for the deployment of electric vehicle infrastructure to receive these funds. Later this year, the U.S. government plans to announce a second grant program aimed at increasing electric vehicle charging stations in rural and underserved communities.

The $5 billion fund under the NEVI Formula program was facilitated by President Biden's Bipartisan Infrastructure Act (BIL), which was enacted on November 15, 2021 as the Infrastructure Investment and Employment Act (IIJA).