President Biden Announces $900 Million Investment in EV Charging Stations

Sep 23, 2022 | Blog, Uncategorized

In a speech made in Detroit on Wednesday, President Biden announced the approval of $900 million for charging stations for electric vehicles nationwide. According to Internal Revenue Service tax attorneys, the money will help build stations of this kind in 35 states across the country. After touring the North American International Auto Show in Michigan, the president delivered a speech in the Motor City, during which the announcement was made. He stated that major aspects associated with the use of electric vehicles have changed over the years, and that those who want to invest in them need not make as many compromises as was once the case. He praised American ingenuity and the hard work of the country’s engineers for these changes.

Bipartisan Approval for Charging Stations Infrastructure Plan

According to a tax attorney in San Francisco, the $900 million is part of a bipartisan infrastructure law that will help fund the construction of electric-vehicle charging stations. These stations will be located across 53,000 miles of the US highway system. Biden stated that the funding will cover approximately 500,000 stations.

When delivering his speech in Detroit, Biden stated that Michigan is “building the future of electric cars,” and will “advance America’s electric- vehicle future.” The president went on to speak of his vision for a fully electrified highway system in the United States, where the classic American road trip in an electric car will be fully supported, with charging stations as easy to find as gas stations are now. He stated that whether people are driving coast-to-coast or locally, it will not be difficult to find places to charge their electric vehicles. According to tax lawyers in San Francisco, Biden also stated that Americans should be confident that the country is on the right track, adding that American manufacturing “is back.”

Major Companies Investing in Electric Vehicles

During the first few years of Biden’s presidency, companies such as Panasonic, General Motors, the Ford Motor Company, Honda, and Toyota have invested almost $85 billion in the manufacturing of electric vehicles, EV chargers, and batteries. During his trip to Michigan, Biden also spoke to local leaders, CEOs, and union workers about this trend among car and battery manufacturers.

President Biden “Test Drives” Several Electric Vehicles

Prior to his tour of the auto show, and before making his speech on Wednesday, President Biden got behind the wheel of several vehicles. When sitting inside a Corvette ZO6, Biden joked with reporters that he would be telling the Secret Service that he’d be “driving home.”

Biden also toured some electric cars, including an EV Silverado, for which production will begin in Michigan in 2023. Last year, Biden test drove the F150 Lightning, which has an estimated range of 400 miles on a full charge. When visiting Detroit on Wednesday, Biden also slowly drove an electric Cadillac Lyriq down the auto show’s blue carpet with a secret service agent next to him. He laughingly told reporters to hop in and he’d give them a ride to Washington. Bay Area tax attorneys are watching for further developments regarding the future of electric vehicles and the building of charging stations nationwide.