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  4. California approves $2.9 billion investment to double car chargers in state
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California approves $2.9 billion investment to double car chargers in state

(Reuters) - The California Energy Commission on Wednesday approved a $2.9 billion investment plan to accelerate the state's 2025 electric vehicle (EV) charging and hydrogen...
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(Reuters) - The California Energy Commission on Wednesday approved a $2.9 billion investment plan to accelerate the state's 2025 electric vehicle (EV) charging and hydrogen refueling goals.

The investment will result in 90,000 new EV chargers across the state, more than double the 80,000 chargers already installed, the energy commission said.

Combined with funding from utilities and other programs, these investments are expected to ensure the state achieves its goal to deploy 250,000 chargers by 2025, it added.

The state will allocate $1.7 billion to support medium and heavy duty zero emission vehicles.

"The plan will increase access to charging and hydrogen fueling for individuals, businesses and public agencies, while supporting our emerging manufacturing ecosystem and creating jobs," CEC's Lead Commissioner for Transportation Patty Monahan said in a statement.

In September, the U.S. Transportation Department approved the electric vehicle charging station plans for all 50 states, Washington and Puerto Rico covering about 75,000 miles (120,700 kms) of highways.

The $1 trillion infrastructure bill provides $5 billion to help states install EV chargers along interstate highways over five years. States now have access to more than $1.5 billion to help build EV chargers.

The White House had approved 35 of the 50 state plans, it had announced earlier this year.

California, in August, moved to require all new vehicles sold in the state by 2035 to be either electric or plug-in electric hybrids.

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 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
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 US Coffee C213.73↑ Sell
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 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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