---
title: "Biden Plans Huge Investment in Electric Vehicles"
description: "Biden has announced his administration is intending to invest $174 billion in the domestic electric vehicle market."
date: "2021-03-31"
modified: "2021-03-31"
authors:
  - name: "Victor Tangermann"
    job_title: "Senior Editor"
    link: "https://futurism.com/authors/victor"
url: "https://futurism.com/the-byte/biden-plans-huge-investment-electric-vehicles"
categories:
  - "Advanced Transport"
  - "Electric Vehicles"
tags:
  - "electric vehicles"
  - "evs"
  - "joe biden"
  - "the digest"
---

# Biden Plans Huge Investment in Electric Vehicles

![Biden has announced his administration is intending to invest $174 billion in the domestic electric vehicle market.](<https://futurism.com/wp-content/uploads/2021/03/biden-plans-huge-investment-electric-vehicles.jpg>)
*\<em\>Image: Tesla\</em\>*

## Going Green

US President Joe Biden [has announced](<https://www.whitehouse.gov/briefing-room/statements-releases/2021/03/31/fact-sheet-the-american-jobs-plan/>) that his administration intends to invest $174 billion in the domestic electric vehicle market.

"His plan will enable automakers to spur domestic supply chains from raw materials to parts, retool factories to compete globally, and support American workers to make batteries and EVs," [reads a brief](<https://www.whitehouse.gov/briefing-room/statements-releases/2021/03/31/fact-sheet-the-american-jobs-plan/>) posted to the White House's website today.

Consumers could also directly gain from such an investment.

"It will give consumers point of sale rebates and tax incentives to buy American-made EVs, while ensuring that these vehicles are affordable for all families and manufactured by workers with good jobs," the statement reads.

## Rebates

The Biden administration is also planning to work with "local governments and the private sector to build a national network of 500,000 EV chargers by 2030," according to the announcement.

Part of the $174 billion will also go towards electrifying fleets, including school buses and mass transit vehicles.

Earlier this year, Democrats [proposed a bill](<https://electrek.co/2021/02/26/more-generous-electric-car-federal-tax-credit-reform-being-proposed/>) to reform electric car tax credits, giving $7,500 in tax credits to anybody buying an electric vehicle, with a cap of 200,000 deliveries of EVs in the US per automaker.

It will now be in Congress's hands to decide whether Biden's proposal will become law.

**READ MORE:** [Biden proposes $174 billion investment in electric vehicles](<https://electrek.co/2021/03/31/biden-proposes-174-billion-investment-electric-vehicles/>) \[*Electrek*\]

## Author
I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida.

### Author social links  
[Bluesky](<https://bsky.app/profile/vtanger.bsky.social>)