Charge Enterprises Inc (CRGEQ)

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Howis Biden's Infrastructure Push Advancing the EV Market

As we have stated before, the future is electric. Earlier this year, President Biden unveiled a plan toward tackling climate change by spending up to $174 billion in order to motivate the U.S. to switch from gasoline vehicles to cars and trucks that run on electricity.

So, what’s next? BloombergNEF, an energy research firm, reports 70 percent of new vehicles will be EVs by 2040. Many large automobile manufacturers such as G.M., KIA, Volvo, and Ford, to name a few, have committed to an all-electric future to help move forward the adoption of electric vehicles. We must also take into account the types of electric vehicles these automakers are counting, such as hybrids, plug-in hybrids, EVs, and in some cases hydrogen fuel-cell vehicles in the mix.

It is important to understand that President Biden’s infrastructure push is greater than one industry sector or policy. It is going to require a broad approach, ranging from economic, social, environmental, and cultural realities.

The transition from gas-powered vehicles is not going to be easy, and a long road, but key pieces of the puzzle will be put into place, such as lowering the cost of electric vehicles, by offering incentives such as tax credits, rebates, and among many more are great ways to convince consumers. For instance, the main federal incentive is a $7,500 tax credit for the purchase of new electric cars. In addition, electricity is cheaper per mile than gasoline, EVs also require less maintenance, i.e. there is no need for an oil change.

Simply put, one of the top reasons users forgo purchasing an EV is charging. Charge Enterprises aims to change the charging infrastructure by completing the unglamorous work of location selection, engineering, installation, testing, and maintenance to properly equip the electric vehicle charging industry. Charge is removing the existing friction in order to help accelerate the transition from fossil fuels to electric vehicles.

As we’ve strongly emphasized, the future is electric, and we are here to advance the future adoption of EVs by making charging easily accessible to all, and to meet the market demand as most large automakers have committed to an all-electric future.

https://www.linkedin.com/pulse/how-bidens-infrastructure-push-advancing-electric-vehicle-/?published=t&trackingId=l93ooDDb9LwVVHx5mrk%2BnQ%3D%3D