Biden administration pushing for EV charger grants before Trump's potential return

From Nasdaq: 2025-01-14 09:02:00

As President Biden’s term nears its end, the administration is pushing to solidify its clean energy legacy with $635 million in grants for EV chargers. This funding underpins the urgency to advance green initiatives ahead of Trump’s return. Companies like Tesla, Blink Charging, EVgo, and Beam Global are set to benefit from the growing demand for EV charging infrastructure.

The United States currently has nearly 70,000 public EV charging stations and over 197,000 charging ports. The Biden administration aimed to build 500,000 publicly available EV chargers by 2030. However, Trump’s return may disrupt these plans. The global EV charging market is projected to grow from $22.45 billion in 2024 to $257.03 billion by 2032.

Tesla’s Supercharger network, with over 60,000 stations globally, positions the company for success. Other stocks like Blink Charging, EVgo, and Beam Global are also poised to benefit from the EV charging boom. These companies are innovating and expanding their charging networks to meet the increasing demand for EV infrastructure.

Blink Charging has over 90,000 chargers globally, while EVgo operates over 1,000 fast-charging stations. Beam Global specializes in sustainable products for EV charging and smart city infrastructure. As the demand for EV charging stations rises, these companies are well-positioned for growth in the EV market.

Investors looking to capitalize on the infrastructure boom can explore opportunities in EV charging stocks like Tesla, Blink Charging, EVgo, and Beam Global. With the government’s focus on clean energy initiatives, these companies are at the forefront of the EV charging sector, poised for long-term growth and success.



Read more at Nasdaq: Biden’s Last Push for EV Chargers Before Trump Era: 4 Stocks to Watch