A Reuters analysis found that the U.S. electric-vehicle sector will be one of the winners of a federal push for a national EV charging network.
The Biden administration recently set standards to distribute $7.5 billion toward building out the network to meet its goal of half a million chargers by 2030.
As part of the effort, Tesla agreed to open much of its own expanded charging network to non-Tesla drivers.
A bigger network will speed EV adoption here, Reuters predicted. “Range anxiety,” or worry about inadequate charging infrastructure, has been a major factor in keeping many potential EV buyers from transitioning from gas-powered models.
Reuters says greater adoption should translate to more sales for carmakers, most of which have gone full-bore toward an EV future, targeting full EV lineups by 2035 at the outside. The Biden administration has a goal that half of U.S. new-vehicle sales be zero-emission models by 2030.
Reuters said that Tesla, the EV market leader, will be both a winner and a loser in an expanded charging network, a winner because its network could become the “universal filling station of the EV era,” according to analysts, a loser because opening what is the biggest U.S. collection of high-speed chargers to rivals’ models could compromise its advantage.
See all comments