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EV Chargers Set to Be Deployed on America’s Highways

September 28, 2022

The Biden administration said yesterday it has now approved funding for all 50 states, DC and Puerto Rio to start accessing so-called NEVI funding to deploy electric vehicle charging infrastructure along public roads to establish an interconnected network. “This will now allow all states to have access to FY’22/FY’23 NEVI funding which should total in aggregate about $1.5B to build chargers covering about 75,000 highway miles across the United States,” says Tudor Pickering in a research note. “However, even with the funding tailwind, one thing we will be keenly watching with respect to EV adoption is how macroeconomic headwinds will impact big-ticket consumer purchases in the coming quarters.”