Electric-vehicle charging stations have scored big after Congress passed its $1-trillion infrastructure package covering a national network, the WSJ reported.
- The measure covers details of the electric-vehicle industry and surpasses all the previous efforts of the United States. It covers funding to upgrade the electric grid into high-voltage transmission lines.
- The measure also allocated $5 billion to expand the electric-vehicle highway charging which will allow drivers to take long-distance trips without concerns of power.
- It also earmarks $2.5 billion in federal funding for electric-vehicle charging or similar advancements such as hydrogen-fueling infrastructure, $2.5 billion for electrifying school buses.
- Congress also directed $2.5 billion for low-emission school buses or other items such as $2.25 billion for ports that could be tapped for electrification projects.
The measure comes as the US faces electric grid vulnerabilities due to hurricanes and winter storms. DRIV is up 0.57%.