Status of electric vehicle projects in the Infrastructure Investment and Jobs Act.

Expanding Electric Vehicles: ⁣A Closer Look at Infrastructure Investments

Nearly two years after President ⁢Joe Biden signed the⁢ bipartisan Infrastructure Investment and Jobs Act into law, significant funds have been allocated toward ⁤various infrastructure projects to push an expansion of‍ electric vehicles.

Also known as ⁢the Bipartisan Infrastructure Law, the legislation couples​ with investments from the Inflation ‌Reduction Act, the massive clean energy ​bill signed into law in August 2022.

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According to an August ⁣report from ⁣the Environmental Defense Fund, a nonprofit environmental advocacy group,

“56% of announced EV investments have occurred in the last 12 months since passage of the IRA and 80% have occurred in⁤ the last 21 months since passage of ⁣the Bipartisan Infrastructure⁢ Law.”

Below is a snapshot of where‍ these investments stand.

Charging Infrastructure

Under the legislation, states were allocated‌ $7.5 billion to expand EV charging networks across the nation. Funds were expected ⁤to go toward projects that build more stations in cities along highways, and ‍other public locations, hoping to ‌place⁣ the chargers no more than 50 miles ⁣apart.

The overall funding directs $5 billion to the National⁤ Electric Vehicle ⁤Infrastructure Formula Program and $2.5 billion to the Charging and Fueling Infrastructure Program.

“To date, the​ Federal⁣ Highway Administration has made available⁣ $2.38 billion in ‍National Electric Vehicle Infrastructure Formula funding to help all 50⁣ states, the District of Columbia and Puerto Rico build a national network of EV chargers,” an FHWA official told the Washington Examiner.

NEVI, created under the bill, is overseen by the Department of Transportation and provides grants to state and⁣ local‌ governments for‍ EV infrastructure.

California and Texas have ⁤been issued ‍the most funding from the⁤ national ⁤EV charging infrastructure network. In September 2022, the states ⁣were two of 35 total whose plans were approved to roll ‍out additional charging stations over 53,000 miles ⁣of highway across the U.S. over ⁢the next five years. From fiscal 2022 through fiscal 2024, California⁣ has seen $220,231,162 in NEVI funding, while ‍Texas‌ is leading with $234,065,268, according to ⁣data from the⁢ Joint⁣ Office of Energy and Transportation.

In February, the Biden administration announced that all EV charging stations funded by‍ the bill must be built⁢ in the U.S., and by July 2024, at least 55% of the price of all components ​must be manufactured domestically, too.

Battery Manufacturing

The law allocated $7 ‍billion ‍for EV battery components including critical minerals and materials needed to produce the power system.

In October 2022, the Biden administration announced that 20 companies received ‍$2.8 billion for battery production, supporting domestic manufacturers who need critical minerals that are located in just a handful⁢ of countries, risking depletion in the states.

In ⁣September, the Department of ​Energy’s Office of Manufacturing and Energy Supply Chains filed a notice of intent to‍ provide $3.5 billion in new awards through the bill to expand battery manufacturers and improve domestic supply chains.

“It is a‍ priority of the⁣ Administration to retain and increase good-paying jobs across the entire battery supply chain, including mineral processing, battery manufacturing for vehicles and storage, and ‍recycling,” the notice from ⁣MESC said.

Enough batteries were made to power 224,700 vehicles in 2021 and increased ⁤to ⁢more ‍than a million vehicles in 2022, according to the Environmental Defense Fund’s report. The environmental group predicts by 2027, domestic manufacturing capacity ⁢will increase to more than 12 million vehicles.

Development in Jobs

This legislation is estimated to create more than 50,000 jobs connected to electric vehicle ​component and assembly plants, with many focused ​in California and Michigan.

According to the Environmental Defense Fund, 143,000⁣ new jobs have⁣ been created in the last eight years in the electric vehicle sector ‍— with 66%, or more than 94,000, ⁤created⁢ since Biden passed the​ legislation.

Among ‍the​ jobs documented by the ⁣Department⁢ of Energy, thousands of jobs have been ⁣created in the EV sector, including at ‍General Motors and the Ford Motor Company. The department⁤ tracks jobs created​ from funds under the Inflation⁣ Reduction Act ⁤and Infrastructure Investment and Jobs Act. Thousands of EV jobs are focused in Northern‌ California, varying in companies ⁤such as Tesla and Ryvid.

In April, the Biden administration revealed strict rules to accelerate the country’s transition to EVs. ⁣In the most ambitious plan, the president outlined his goals of having 100% of medium- and heavy-duty EVs by 2035.

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How do the investments in ​charging infrastructure, battery manufacturing, and workforce development contribute to a cleaner and⁢ more⁣ sustainable transportation system in the U.S.

Of ​supply.

“The ability to mass-produce advanced batteries in the ‌U.S.‍ is‌ a matter⁢ of national security ​and economic competitiveness,” said Secretary of⁢ Energy Jennifer Granholm in ⁢a statement.

These investments aim to expand domestic battery manufacturing capability ‌and reduce reliance on foreign sources. By investing in battery ‌technology, the U.S. can secure a‌ sustainable supply chain‌ and maintain a competitive edge in the global EV market.

Workforce ​Development

The infrastructure bill also focuses on workforce development in‍ the EV industry. $5 billion⁤ has been allocated to‌ support training programs and apprenticeships for⁢ jobs in‌ the clean ⁣energy‍ sector.

These funds aim to develop a skilled workforce that ⁤can support the growing EV industry, from manufacturing⁣ to installation and maintenance of charging infrastructure. The goal is ‌to create employment opportunities and prepare⁣ workers for the emerging clean energy economy.

Furthermore, the legislation also includes provisions for‍ equity ⁣and inclusivity, ensuring that‌ underrepresented communities have access to the economic benefits and job⁣ opportunities in the EV⁢ industry.

Conclusion

The bipartisan‌ infrastructure bill ‌and the related ​investments have provided a ‍significant boost to the expansion of electric vehicles in the U.S. With⁤ funding ⁣for charging⁤ infrastructure, battery manufacturing, and workforce development, the nation ⁤is taking crucial steps towards a cleaner and more sustainable transportation system.

These investments not only bolster the EV industry but also contribute to ​national security, economic competitiveness, and⁣ environmental goals. As⁣ more charging stations are built, domestic battery production⁣ increases, and a ⁣skilled workforce emerges, the U.S. is poised to lead in the global‍ transition to electric⁢ vehicles.

Through infrastructure investments,⁢ the ​U.S.‌ is not only upgrading​ its physical transportation network but ​also laying the ⁣foundation for⁢ a greener future.