Electric Vehicle Sales Slow as High Costs and Lack of Charging Stations Deter Buyers

Despite $7.5 billion allocated for expanding charging networks, a robust federal charging network is still years away, with only two states having opened any charging stations so far.

• Electric vehicle (EV) sales in the U.S. are growing, but not at the pace seen a few months ago, with some high-profile EVs, such as Ford's Lightning F-150, slow to sell.
• The Biden administration's aggressive support for EVs is seen by Democrats as an economic and environmental boon, while some Republicans view it as a government boondoggle that benefits the elite.
• Potential EV buyers often cite high costs and the lack of charging stations as reasons not to make the switch, with 44% of respondents in a recent survey expressing concern about the availability of charging stations.
• Under the Bipartisan Infrastructure Law, states were allocated $7.5 billion to expand EV charging networks across the U.S., with the aim of placing chargers no more than 50 miles apart.
• Despite the Biden administration's efforts, a robust federal charging network is still years away, with only two states — Ohio and New York — having opened any charging stations so far.

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