This country plans $621 billion investment for EVs, highways, and bridges1 min read . Updated: 01 Apr 2021, 03:14 PM IST
Dubbed as the American Jobs Plan, the investment strategy has earmarked $174 billion for electric vehicle technology.
Joe Biden's administration has decided to invest a whopping $621 billion for transportation and infrastructure development. White House has unveiled a sweeping plan to renovate, update, and overhaul the US transportation infrastructure.
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Dubbed as the American Jobs Plan, the investment strategy has earmarked $174 billion for electric vehicle technology. The plan is a part of a $2 trillion proposal that addresses non-transportation infrastructure, manufacturing, and climate change.
The American Jobs Plan includes everything from sourcing raw materials to retooling factories, point-of-sale rebates for the electric vehicle buyers, and state or local assistance to build 500,000 EV charging stations by 2030.
The Joe Biden administration has earmarked a $174 billion investment that includes updating the federal vehicle fleet to electric ones. It comes in line with US President Joe Biden's previous "Made in America" executive order announced on January 25, 2021.
The plan is to modernize 32186.88 kilometers of highways, roads, and main-streets. The administration plans to fix the ten most economically significant bridges in the US in need of reconstruction. The plan is to repair the worst 10,000 smaller bridges, providing critical access to the communities.
Under the US government's ambitious plan, the country is aiming to upgrade the transport fleet massively to electric vehicles.