Trump's funding cuts threaten U.S. EV charging industry
cnbc.com —
The Trump administration is proposing cuts to federal funding for electric vehicles (EVs), creating uncertainty for the EV charging industry. This comes as EV ownership rises in the U.S., with nearly six million electric vehicles on the road. The National Electric Vehicle Infrastructure (NEVI) program, which aimed to build a network of 500,000 high-speed chargers by 2030, has been suspended. This freeze has led to confusion among state transportation departments and halted many ongoing projects. Despite the challenges, some charging companies are adapting by relying less on federal funding. They are focusing on partnerships and alternative revenue sources to maintain growth amid the changing political landscape.