EV Makers On A Roll As US Approves EV Charging Plans For 50 States

The U.S. Transportation Department (USDOT) approved the electric vehicle charging station plans for all 50 States, the District of Columbia and Puerto Rico, covering 75,000 miles of highways.
All States now have access to more than $1.5 billion to help build EV chargers.
The National Electric Vehicle Infrastructure (NEVI) formula funding under the Bipartisan Infrastructure Law, which makes $5 billion available over five years, will help States install EV chargers along interstate highways.
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The November 2021 $1 trillion infrastructure bill provides $5 billion to help states install EV chargers along interstate highways, Reuters reports.
The report added that the Federal funds would cover 80% of EV charging costs, with private or state funds making up the balance.
President Biden has set a goal for half of all new vehicles sold in 2030 to be zero-emissions vehicles.
Earlier, Tesla Inc TSLA made some U.S. Supercharger networks accessible to non-Tesla EVs.
Price Action: TSLA shares traded higher by 0.68% at $277.88 on the last check Tuesday.