The charging plan by Biden can lead to 25 million electric vehicle sales

Energy

Speaking outside the Delaware Museum of Natural History in Wilmington on 14th September 2020, Joe Biden said there is an urgent and great need to address climate change. By 2030, Biden plans to build over 500,000 electric charging stations. The plugs will help to combat the climate crisis and build a greener economy. This EV infrastructure is expected to cost over $5 billion. 

Even though this promise was made during the campaigning period when Biden was running for the presidency, the industry has high hopes that he will still pursue it. This infrastructure is estimated to cover a milestone of over 57% of the US charging that the EVs require by 2030. The BloombergNEF forecasts say that this could lead to a sale of over 25 million electric trucks and cars. 

EVgo chief executive officer, Cathy Zoi, said that the infrastructure matches with what the market currently needs. He added that this plan could speed off the electrification process in the transport industry by encouraging many people to purchase EVs since they don’t need to hassle the charging places. 

The Energy Department says that right now, there are 28,000 charging stations in the US with about 90,000 plugs. It is good to one that one out of five of those plugs belongs to Tesla. However, in the EV market, no doubt that the US charging infrastructure is some steps ahead compared to other nations. As of now, around 20 electric vehicles in the US share a charging plug, meaning that Biden’s plan to build 500,000 plugs has the ability to cover 25 million EVs. 

The automakers are now confident to speed off electric vehicle rollouts with the polish push. By 2025, at least 121 battery-powered machines will be offered to US consumers by carmakers, and before Biden’s first term, millions of them would be produced every year. The founder of Atlas Public Policy, Nick Nigro, said that some of the existing charging units are cheap and slow charging while most people demand ultra-fats cords. 

So far, Biden’s team has not given the details about the type of chargers they aspire to install. Many private charging networks are happy with Biden’s policy and are willing to help the government achieve its plan. Pedro Pizarro, Edison International Chief Executive Officer, said that the policy is a feasible project. He added that it needs great collaboration between charging companies, automakers, utilities, and charger manufacturers. 

https://industribune.net/

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