White House invests millions to repair EV chargers and cut battery costs

On January 19, the White House issued a statement announcing that the U.S. Department of Transportation and Energy will be investing $325 million in three programs to promote electric vehicle (EV) technologies, repair chargers, and reduce battery costs. 

The statement mentioned that the new funding for EV chargers will help repair and replace non-operational chargers across the country, reduce the cost of deploying charging in underserved communities, and lower battery costs.

As of January 18, the United States provided roughly $150 million to projects in 20 different states to replace or repair the approximately 4,500 EV charging points that are now in existence.

Furthermore, the new funding is part of the $5 billion National Electric Vehicle Infrastructure (NEVI) formula program, funded by a $1 trillion 2021 infrastructure law. As part of the program, states participating in the initiative must run federally sponsored charging stations for at least five years, with a 97% uptime requirement.