The Biden administration is rolling out Wednesday a $174 billion strategy to spur the development and adoption of EVs that consists of money to retool factories and enhance domestic supply of products, tax incentives for EV purchasers and grant and incentive programs for charging infrastructure.But its going to take more than federal government assistance to effectively expand EV infrastructure. It takes a mix of private-public partnerships that can include local municipalities, services and energy business as well as car manufacturers and an emerging group of EV charging business. The higher the level, the quicker the charge and the more expensive it is to install.Charge Point EV stationsSource: Charge Point” It is a huge tablet to swallow for any person,” Wakefield said. Because we understand that the automakers have clipped the cash in the retooling,” stated Jonathan Levy, chief industrial officer of EV charging company EVgo.While automakers like General Motors and Volkswagen are greatly investing in improving efficiency and reducing prices of EVs to catch up to Tesla, theyre far less interested in structure, owning and operating their own charging networks. The business went public March 1 through a SPAC offer with Switchback Energy Acquisition Corp.While largely new to public investors, Cowen thinks” the sector is poised for significant growth and value production, underpinned by a large, strong unit economics, and recurring revenue,” according to a report on EV charging earlier this month.But that growth needs to come with EV sales as well as rewards and financial investments from numerous sources, including the federal government, according to officials.

Bloomberg

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