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New EV Charging Station Proposal by White House

Transportation
0 min read

Image Credit: RoK (Flickr)


White House Plans to Make EV Ownership Easier is of Interest to Investors

The dream of care-free travel, at low cost and low environmental impact, in an electric vehicle (EV) just got a little closer to reality. The White House has announced (June 6) guidelines intended to standardize charging stations while using tax dollars to make these stations more available and reliable. The proposal outlines what new charging stations need to have to qualify for access to the billions being spent on infrastructure. The initial intent is to help create 500,000 charging stations along major arteries in 5 years at the cost of $5 billion. The standards do not match the current largest charging network and standards produced by Tesla, Inc. (TSLA).

About Biden’s Proposal

The White House aims to standardize the chargers by making sure that federally subsidized outlets all offer similar payment systems, charging speeds, pricing information, and functionality. The idea, according to the Department of Transportation (DOT), is to ensure ease of charging regardless of the brand of car, state, or roadway.

Under the rules, charging stations will not be allowed to require membership for use. The White House also laid out standards for how charging stations should be maintained over time; the intent is to reduce the persistent problem of broken chargers.

One of the biggest charging providers currently in the US does match the criteria under the new standards. Tesla Motors chargers with proprietary connections do not qualify, it isn’t clear if the company will succumb to the Washington standard or continue with its proprietary outlets.

The push forward of this plan for 500,000 charging stations is worth the attention of investors in both materials and car manufacturers. The increasing adoption of electric infrastructure and batteries could provide significant growth opportunity for investors in EVs, and producers of copper, stainless steel, aluminum, nickel, chrome, cobalt, and lithium, as well as manufacturers of polycarbonates, elastomers, and thermoplastics polyurethanes used for critical manufacturing components of EV charging stations, such as enclosures, cables, connectors, cable insulation and jacketing, and flexible conduits.

Take Away

Federal subsidies were announced that would be made available to build out the EV charging station network to provide a more attractive and cost-effective experience to help induce more purchases of electric vehicles.

The $5 billion being made available requires uniformity to ensure a similar experience and not provide a preference to one manufacturer over another.

The enormous amounts being spent by governmental agencies for this project should regain the attention of investors in metals and miners. Providers of other materials used in the construction of charging stations that could likely win a government contract are also worth analyzing.

Paul Hoffman

Managing Editor, Channelchek


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Source

https://www.whitehouse.gov/briefing-room/statements-releases/2022/06/09/fact-sheet-biden-harris-administration-proposes-new-standards-for-national-electric-vehicle-charging-network/

https://driveelectric.gov/resources/

https://www.meticulousresearch.com/product/ev-charging-station-raw-materials-market-5200

https://www.fhwa.dot.gov/environment/alternative_fuel_corridors/resources/nprm_evcharging_unofficial.pdf

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