US launches $5 billion plan to finance electric car charging

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The United States government on Thursday launched a nearly $5 billion plan to build thousands of electric vehicle battery charging stations over the next five years.

In November, the US Congress approved funding to states as part of a US$1 trillion (R$5.2 trillion) infrastructure project. The federal government will make $615 million available in 2022, but states must first submit plans and get Washington’s approval for the funding.

By 2030, US President Joe Biden wants 50% of all new vehicles sold in the country to be electric or plug-in hybrids. The government also wants the installation of 500,000 new charging stations for electric vehicles.

The US government said states should first prioritize investments along interstate highways. Stations must have at least four power outlets to be able to simultaneously charge four vehicles.

The expectation is to install battery charging infrastructure every 80 kilometers along interstate highways.

The White House signed legislation stalled in Congress to increase current tax credits from US$7,500 (R$39.2) for electric vehicles to up to R$12,500 (R$65.3), provided they are produced in USA. Credits of up to US$ 4,000 (R$ 20,900) for used electric vehicles are also part of the plan.

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