The U.S. Department of Energy (DOE) has approved a $1.25 billion loan to EVgo, a leading electric vehicle (EV) charging company, as part of the Biden administration’s aggressive push to advance EV infrastructure before Donald Trump assumes office. The funding will support EVgo’s plan to install around 7,500 chargers at approximately 1,100 charging stations across the U.S. over the next five years. The initiative emphasizes 350kW fast-charging stalls capable of charging two vehicles simultaneously, a key step toward improving the nation’s EV charging network.
This announcement underscores President Joe Biden’s determination to maximize federal investments in EV-related projects before leaving office. Trump has pledged to dismantle much of Biden’s EV agenda, including eliminating the $7,500 tax credit for new EV purchases and cutting remaining funds allocated through the Inflation Reduction Act (IRA) for EV infrastructure. In response, the Biden administration has been moving swiftly to finalize loans and approvals.
With little over a month left in Biden’s presidency, the DOE has accelerated its support for EV initiatives. Recent examples include preliminary approval of a $7.54 billion loan to Stellantis and Samsung for a battery factory in Indiana and a $6.6 billion loan to Rivian for an EV plant in Georgia. These investments are designed not only to expand EV adoption but also to create jobs. According to EVgo, its charging expansion project will generate 180 external construction jobs and over 550 maintenance and support roles.
Based in Los Angeles, EVgo is partnering with General Motors to deploy thousands of EV chargers across the U.S. The two companies recently celebrated the activation of their 2,000th charging stall, a milestone in their collaboration to address one of the most significant barriers to EV adoption: the fragmented and often unreliable charging network. EV owners frequently cite broken equipment and inconsistent charging availability as major frustrations.
When Biden first took office, he pledged to build 500,000 EV chargers nationwide by 2030, allocating $7.5 billion for this effort in the Bipartisan Infrastructure Bill. While initial progress was slow, recent developments suggest the pace has picked up considerably. The DOE’s latest update highlights this momentum, revealing that there are now over 204,000 publicly available charging ports in the U.S. This year alone, nearly 38,000 new public chargers have been installed, with around 1,000 additional public chargers being added weekly. This expansion has been driven by a combination of federal funding, tax incentives, state and local investments, and private sector contributions.
The DOE’s figures include both Level 2 chargers, which are slower but more widely available, and DC fast chargers, which provide quicker charging options. Since Biden took office in 2021, the number of publicly available charging ports has approximately doubled, signaling substantial progress toward the administration’s ambitious EV infrastructure goals.
Despite these advancements, the administration’s accelerated spending reflects a sense of urgency as Trump’s presidency approaches. With Trump promising to curtail or reverse EV-related spending, Biden’s team is racing to solidify its legacy in transforming the EV landscape. By funding projects like EVgo’s nationwide expansion, the administration aims to leave a lasting impact, laying the groundwork for broader EV adoption while addressing key infrastructure gaps.