The expansion of electric vehicle (EV) charging stations in the U.S. could slow down due to federal funding cuts, according to the CEO of a major EV charging equipment supplier.
Mark Morelli, CEO of Vontier Corp., warns that halting government funding for new chargers could reduce the number of high-speed charging stations expected by 2030. Instead of the projected 400,000 chargers, the U.S. may only have around 200,000.
In February, the Federal Highway Administration announced it would suspend grants under the National Electric Vehicle Infrastructure (NEVI) program. This initiative, part of the bipartisan infrastructure law passed under former President Joe Biden, was set to provide $5 billion over five years to install chargers in every state.
The funding freeze raises concerns about the pace of EV adoption and the ability to meet growing charging demands across the country.
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