White House Eyes $42B in Existing Funding For Biden Electric Vehicle Push

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Federal lawmakers are working to translate Biden's jobs plan into an infrastructure bill that will help to revitalize and decarbonize the United States' economy. While that legislation is being developed, experts say it is important that existing funding opportunities be tapped in order to begin making immediate progress on transportation electrification.

"It's really encouraging to see federal leadership on EVs and charging infrastructure. We need it right now to succeed in this rapid transition to electric transportation," Houston said. "That is the direction the market is going anyway, but we need to get there as quickly as we can."

gradient-quote Electric mobility is currently in a similar place where renewable energy was a few years ago; trending upwards yet not widespread gradient-quote-right
Mathias Lelièvre, CEO, ENGIE Impact

ENGIE assists companies and governments in setting and meeting climate targets.

The transportation sector is the United States' largest contributor to greenhouse gas emissions, and in order to decarbonize it and the rest of the economy by 2050 Biden is aiming to electrify much of the U.S. vehicle fleet — and bring the power sector to 100% carbon-free by 2035. His administration's new report finds that building 500,000 new public EV chargers is "a key strategy" for reducing emissions.

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