Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Biden administration has proposed to put aside $175bn in its $2.3tn infrastructure plan towards promoting the consumption of electrical vehicles.


According to media reports, citing an email from the country’s Transportation Department to Congressional staff, $100bn under this proposed plan would be invested towards consumer rebates for electric vehicles (EVs) and $15bn will go to setting up 500,000 new EV charging stations.


Of the total plan, the transportation department has also proposed an outlay of $20bn for new EV school buses, $25bn in new zero-emission transit vehicles, and $14bn towards other tax incentives.


The plan is expected to be beneficial for EV domestic manufacturers though many no longer qualify for rebates since they have crossed the 200,000-units sales mark. 

Leave a Reply

Your email address will not be published.