The White House has announced $700 million in private sector investments to build more than 250,000 new electric vehicle chargers per year and create at least 2,000 jobs.
The investments include $450 million announced by Electrify America and more than $250 million by Siemens, the White House said Tuesday.
The investment that Electrify America announced will be coming from Volkswagen Group and Siemens to support the installation of up to 10,000 ultra-fast chargers at 1,800 charging stations.
Siemens will expand its manufacturing facilities in Grand Prairie, Texas, and Pomona, California, to support its plan to develop 1 million EV chargers in the next four years.
The investments build on the Bipartisan Infrastructure Law, which authorizes $7.5 billion to establish a charging infrastructure for EVs.
Other companies and institutions that announced initiatives to support the administration’s efforts to build a network of EV chargers are ABB E-mobility, ChargePoint, FLO, Tesla, Tritium, IBEW and Volta.
