Latest news with #charginginfrastructure
Bloomberg
a day ago
- Automotive
- Bloomberg
US Restarts EV Charger Funding After Court Blocked Earlier Halt
The Trump administration released new guidance outlining how states can use federal funds to build electric car chargers after a federal court blocked an earlier move to freeze the program. The US Department of Transportation said the guidelines will streamline applications and cut red tape to access the program's $5 billion in funding for charging infrastructure that is set to wind down in 2026. The updated policy eliminates earlier requirements, such as ensuring disadvantaged communities have access to EV chargers and promoting the use of union labor in installation.
TechCrunch
a day ago
- Automotive
- TechCrunch
Trump admin stops illegal freeze of $5B EV charger funds after losing in court
The Trump administration has finally issued new guidance that states can use to dole out $5 billion in funding for electric vehicle charging infrastructure, after spending months withholding the money. A coalition of states sued over the funding freeze in the National Electric Vehicle Infrastructure (NEVI) program, which was one of the administration's many attempts to stop funding appropriated by Congress at the start of Donald Trump's second term. A judge ruled in June that those states were likely to succeed and issued an injunction against the administration's spending freeze. The Department of Transportation (DOT), led by former MTV personality Sean Duffy, has criticized the states for taking too long to spend the money. As of May, around 84% of the $5 billion (authorized as part of the Bipartisan Infrastructure Law) was still waiting to be obligated and only a few dozen chargers had been built. Duffy and the DOT also claimed the funding was only halted while a 'review process' was performed to ensure the NEVI program aligned with the administration's priorities. A new press release issued Monday reveals what that entails. Unsurprisingly, the new guidance focuses on simplifying the review process for the charging stations. This means states will no longer have to consider consumer protections, emergency evacuation plans, environmental siting, and other previously required steps before construction can begin. The DOT has also removed requirements that a certain percentage of the charging stations be built in rural, underserved, or disadvantaged communities. The DOT further removed language from the guidance requiring that proposals for the funding 'demonstrate how the implementation will promote strong labor, safety training, and installation standards.' And the DOT struck language that required applicants to provide opportunities for minority- and women-owned small businesses to become involved.
Entrepreneur
02-08-2025
- Automotive
- Entrepreneur
Charging India Forward
In five years, we see Statiq as the leading EV charging platform not just in India, but potentially in emerging international markets, says Akshit Bansal, Statiq This story appears in the July 2025 issue of Entrepreneur India. Subscribe » You're reading Entrepreneur India, an international franchise of Entrepreneur Media. When Akshit Bansal co founded Statiq in 2019, electric vehicles (EVs) in India were still viewed as a novelty, hindered by limited range, uncertain infrastructure, and scepticism from both investors and consumers. Today, as EV sales grow exponentially and policy pushes be come firmer, Bansal's startup is at the centre of a national mobility trans formation with over 8,000 chargers deployed over 70 Indian cities. "Sustainable mobility isn't a luxury, it's a necessity," Bansal says, reflect ing on the early motivation behind launching Statiq. "We saw a glaring gap in India's EV ecosystem, especial ly around reliable charging infrastruc ture. Our mission from day one was to make clean mobility practical and accessible for everyone." But for this transition to be viable, charging infrastructure must scale with it. This is where Statiq plays a critical role. "What truly motivated us was wit nessing how the lack of dependable charging options was holding back the EV revolution," Bansal explains. "We knew we had to build not just chargers but trust, convenience, and accessibil ity into the experience." While other companies focus on hardware deployment alone, Statiq distinguishes itself through its propri etary technology platform that powers the entire user journey from discover ing a charger and checking availability, to seamless payments and real-time support. "We go far beyond simply install ing EV chargers. We're building an intelligent, interoperable, and scalable ecosystem," Bansal notes. "Our plat form leverages IoT, machine learning, and predictive analytics to ensure maximum uptime and a hassle-free experience for users and fleet opera tors alike." With an easy-to-use mobile app, Statiq users can locate compat ible chargers, reserve slots, and pay digitally within seconds. On the backend, the system optimises energy distribution, flags maintenance needs, and enables dynamic load balancing. According to Bansal, one of the big gest hurdles to EV adoption remains public perception. "People still think EVs don't have enough range, or that charging is unreliable," he says. "But that's simply not true anymore." With over 8,000 chargers already on the ground and plans to add an other 20,000 by 2026, Statiq is setting ambitious benchmarks."In five years, we see Statiq as the leading EV charging platform not just in India, but potentially in emerging international markets," Bansal says. "We're not just powering vehicles—we're powering a national shift toward cleaner cities and smarter infrastructure."
Yahoo
28-07-2025
- Automotive
- Yahoo
Why EVgo (EVGO) Stock Is Trading Up Today
What Happened? Shares of electric vehicle charging company EVgo (NASDAQ:EVGO) jumped 3.1% in the morning session after it secured a $225 million credit facility to accelerate the buildout of its nationwide electric vehicle charging infrastructure. The proceeds from the deal were earmarked to accelerate the deployment of more than 1,500 additional high-power fast charging stalls nationwide. This transaction was noted as the largest commercial bank facility for electric vehicle charging in the United States. The five-year credit facility, which was oversubscribed, also included an option to increase the total financing by $75 million to $300 million. The strong interest from the participating global project finance banks signaled significant lender confidence in the company's expansion plans and the future of EV infrastructure. After the initial pop the shares cooled down to $3.59, down 0.4% from previous close. Is now the time to buy EVgo? Access our full analysis report here, it's free. What Is The Market Telling Us EVgo's shares are extremely volatile and have had 56 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 3 months ago when the stock gained 32.6% on the news that the company reported strong first quarter 2025 results which beat analysts' sales and EBITDA expectations. In addition, full-year EBITDA guidance outpaced Wall Street's estimates. What really stood out was how much more energy people used at its chargers, as network throughput jumped 60%. That helped push revenue up 36%, led by a big rise in charging fees as more cars plugged into EVgo's growing network of stations. Zooming out, we think this quarter featured some important positives. EVgo is down 14.4% since the beginning of the year, and at $3.59 per share, it is trading 59.9% below its 52-week high of $8.94 from October 2024. Investors who bought $1,000 worth of EVgo's shares at the IPO in November 2020 would now be looking at an investment worth $365.39. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Sign in to access your portfolio
Auto Car
22-07-2025
- Automotive
- Auto Car
Bold new (Amp)era: inside the new generation of range-extender engines
Scharrer sees huge market potential in areas where charging infrastructure remains a barrier to EV sales success. 'I hear comments that this is a very short-term technology and that regulations aren't following,' he laments. 'But if you have a car capable of going 155 miles fully electric, then it has a range-extender for the countryside, why should you be banned from driving it in the city? 'We involve ourselves as much as we can in regulatory discussions. In China, to keep the status of a 'new-energy vehicle' [EVs and plug-in hybrids], you must not connect the internal combustion engine to the wheels. The EU has not finally decided what to do with range-extenders, but I think they realise that this is an interesting opportunity to offer a product which is less dependent on rare materials and cell chemistry because you need a significantly smaller battery. 'They want to understand what the pros and cons are. The whole mobility community is ready for these discussions, because we need them. The past regulation of BEVs has shown that we cannot push things into the market against the customers' will. The easier a solution is, the higher its chance of surviving a long time. And this is quite an easy solution. I personally expect that we will see it beyond the next five to 10 years. I think there will be plenty of applications which really excite people.'
