$5 billion will be allocated to construct a charger network.

Today, the White House announced the rollout of a new spending plan intended to aid the United States in constructing a state-spanning network of electric vehicle chargers. This follows with the Biden administration’s general positive attitude toward EVs as a means of combating climate change.

Biden administration unveils $5 billion plan for EV charging infrastructure https://t.co/gzORoBYGFX pic.twitter.com/Gkppt4V9VG

— Tech1UAE (@Tech1UAE) February 10, 2022

According to the new plan, titled the National Electric Vehicle Infrastructure Formula Program, EV charging stations will be constructed along the United States’ many highways in the form of alternative fuel corridors. According to President Joe Biden, not only could this easier access to electric vehicle charging reduce the environmental impact of cars, it could also save the average driver up to $1,000 annually in fuel costs.

“It’s going to help ensure that America leads the world on electric vehicles,” Biden said earlier in the week.

“China has been leading the race up to now, but this is about to change, because America is building convenient, reliable, equitable national public charging networks. So wherever you live, charging an electric vehicle will be quick and easy.”

U.S. to detail $5-bln plan to fund EV charging network https://t.co/MfiDAKtCYS pic.twitter.com/Gk4HM18fHO

— Reuters (@Reuters) February 10, 2022

State governments are being called on to submit plans for EV charger infrastructure by the beginning of August. All eligible plans will be approved by the Federal Highway Administration by the end of September.