President Biden’s $7.5B EV Investment Produced Only 7 Stations

Joshua Ramos
Source: Mint

United States President Joe Biden’s notable $7.5 billion investment into electric vehicle charging has only produced 7 stations in four states, according to the Washington Post. Indeed, Biden’s EV commitment has massively underperformed since the president made the promise two years ago.

According to the report, the 46th President of the United States had promised 500,000 EV charging stations in the country by the year 2030. Moreover, the plan was made to encourage confidence in electric automobiles among the public. Yet, it has failed to produce any significant uptick in charging stations as we get closer to the midpoint of 2024.

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President Biden’s Electric Vehicle Investment Massively Underwhelms

The United States is entering a critical moment with its 2024 elections fast approaching. Indeed, it will see Joe Biden run for re-election, as he is likely to take on his predecessor, Donald Trump, in a 2020 rematch. However, the current president is going to have to contend with some rather disappointing decisions.

Among them is President Joe Biden’s $7.5 billion EV investment, which has only produced 7 stations over the last two years. The White House had implemented the plan in order to combat pollution connected to gas-powered automobiles. However, the plan for 500,000 charging stations by 2030 has had a very poor rollout.

Lamborghini is unveiling its first 100% electric vehicle, the Lamborghini Lanzador EV. The new car is set to compete with Tesla.
Lamborghini’s first 100% electric vehicle, the Lamborghini Lanzador EV. Photo Courtesy of Lamborghini

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The multi-billion-dollar plan that was enacted by Congress has been delivered in only four states. Moreover, the poorly executed plan is set to coincide with new regulations for car and truck emissions from the administration. Indeed, the White House is seeking to fill roads with more electric vehicles and hybrids.

However, the plan thus far has not infused the market with confidence. Therefore, Biden’s ambitious EV transition move could face extensive struggles. What was once heralded as a massive move for climate change, has become another basis of inaction. With the elections taking place in six months, these kinds of situations could have vital impacts.