With $5B in the new US infrastructure law designated for EV charging stations, there’s a lot of work to be done—and a lot of taxpayer dollars at stake.
This federal funding coupled with strong consumer demand and innovative solutions from industry have created a perfect storm to drive EV adoption. Taite R. McDonald believes it’s going to “change the landscape of America.”
McDonald, Equity Partner at Holland & Knight LLP, advises government contractors. In this episode of SAE Tomorrow Today, she says the $5 billion federal spend:
- Is a “down payment” that will unleash billions more in private sector financing for EV infrastructure
- Is a critical step for the US to catch up with other nations on clean tech and EV adoption and to hit targets in the Paris Declaration
- Must be spent effectively to build consumer confidence in the viability of EVs, eliminate range anxiety, and boost green mobility
Europe’s success with this type of funding model is powerful evidence the US initiative is on the right track.
UPDATE: Since the recording, The White House published FACT SHEET: Securing a Made in America Supply Chain for Critical Minerals that addresses a few unanswered questions discussed during this episode.