As part of the Biden Administration’s Five-year Plan, $5 Billion was allocated to five states over five years to finance electric vehicle charging stations. the bipartisan infrastructure packageThe $7.5 billion includes the construction of an extensive network of EV charging points across the nation.

It is part of the larger administration’s agenda to address human-caused climate changes and accelerate the transition to clean energy. Biden’s administration has proclaimed that EVs are more affordable than gasoline-powered vehicles and pledged to sell half of all U.S. sold vehicles. will be electric or plug-in hybrids by 2030.

This guidance will assist states in building a network of electric vehicle charging stations. designated alternative fuel corridors on the national highway systemSenior administration officials stated this during Wednesday’s press conference.

Despite a rise in EV sales in the U.S. in recent years, the transportation sector is still one of the largest contributors to U.S. greenhouse gas emissions, comprising roughly one-third of emissions each year.

Alix Partners forecasts that approximately 24% worldwide of the new vehicles will soon be fully-electric by 2030. America is the largest. world’s third-largestChina is the second largest market for electric vehicles after Europe.

President said that the program for building out charging stations could help average drivers save up to $1,000 per year by saving them gasoline. Tritium is an Australian company which makes EVs charging stations. It plans to set up a Tennessee manufacturing plant that can produce up to 30,000 chargers per year, and 500 jobs in the local area.

The plan is called the National Electric Vehicle Infrastructure Formula Program. States must submit plans for EV infrastructure deployment to the Joint Office of Energy and Transportation before August 1. By Sep. 30, eligible plans can be approved by Federal Highway Administration.

Transportation Secretary Pete Buttigieg and Energy Secretary Jennifer Granholm are set to give remarks in Washington, D.C., on Thursday about the guidance.

“It will help ensure that America is leading the world in electric vehicles,” said the President during an address earlier this week. The speech was to encourage American businesses to expand their EV infrastructure.

Biden declared that China had been the leader of the race for a while, but things are about to change. America has built a network of public charging points that is reliable and equitable. You can charge your electric vehicle anywhere you go.

Wednesday’s conference call saw officials announcing that they would soon reveal guidance regarding the $2.5 billion needed for electric vehicle charging stations in the framework of the bipartisan infrastructure program. This funding includes discretionary grants to support EV charging in the community and along corridors.

The Administration has already proposed an EV incentives package, which would add additional cash to consumers who buy electric vehicles made by unionized workers. Administration has committed to replace its federal fleet of 600,000 cars and trucks to electric powerBy 2035