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Key Takeaways From US's New Standards for National EV Charging Network

Benzinga logo Benzinga 6/9/2022 Anusuya Lahiri
© Provided by Benzinga The U.S. Transportation Department (USDOT) proposed minimum standards and requirements for electric vehicle (EV) charging projects funded under a $5 billion government program. The government sought 50% of all new vehicles sold to be electric or plug-in hybrid electric models and 500,000 new EV charging stations by 2030, which could serve as a significant breakthrough for EV makers like Tesla, Inc (NASDAQ: TSLA) and others. The new standards made charging EVs convenient, reliable, and affordable for all Americans, including driving long distances. Also Read:

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 Tesla, Other EV Makers Said To Have Asked Biden For Heavy-Duty Truck Charging Investments Reuters quoted Transportation Secretary Pete Buttigieg saying, "Everyone should be able to count on fast charging, fair pricing, and easy-to-use payment."  The new proposed rule from the Federal Highway Administration would ensure EV owners could use charging stations nationwide with similar payment systems, pricing information (and) charging speeds. "Everybody should be able to find a working charging station when and where they need it - without worrying about paying more or getting worse service because of where they live," Buttigieg said. The rules ensured EV stations built nationwide could communicate and operate on the same software platforms. The rules would mandate funded EV charging stations to have at least four ports capable of simultaneously fast charging four EVs working 97% of the time and bar charging stations from requiring drivers to have a membership to use them. Price Action: TSLA shares traded higher by 3.26% at $749.24 in the premarket on the last check Thursday. Photo via Wikimedia Commons
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