Facts

• As part of its $7.5B program to build 500k electric vehicle (EV) chargers by 2030, the White House announced Wednesday that Tesla agreed to make at least 7.5k chargers available to all EVs by the end of 2024.^[1]
• To qualify for program funding, participating manufacturers must make and assemble the chargers in the US, and all manufacturing processes for any iron or steel charger enclosures or housing must also occur domestically.^[2]
• The White House program, approved under the tax credit funding of the 2021 Inflation Reduction Act, will also require that at least 55% of all charger manufacturing components be made in the US by July 2024.^[3]
• As the White House wants all chargers to be accessible to all EV types, Tesla, which already has a national network of 17.7k fast chargers, will have to ensure compatibility with a federally backed combined charging system (CCS).^[4]
• By the end of next year, Tesla will make 3.5k new and existing Superchargers available along highway corridors, with the rest being Destination Chargers at locations such as hotels and restaurants in urban and rural locations.^[1]
• This comes as the US Treasury Dept. recently made more EVs eligible for tax credits of up to $7.5k under new vehicle classification definitions. Companies such as EVgo, Pilot, and Hertz have also pledged to expand their charging networks in the next two years.^[5]