[ad_1]
Electric vehicle charging startup EVgo is the latest company to get money from the US Department of Energy as the Biden administration races to approve clean energy loans before Donald Trump takes office.
Trump promised this Cancels Any unspent money from Biden’s bipartisan inflation-reduction law, including a $7,500 tax credit for purchasing new electric vehicles and loans to companies that produce batteries, charging equipment and renewable resources.
The Department of Energy on Friday approved a Loan worth $1.25 billion to EVgo to help the startup install 7,500 public chargers at 1,100 charging stations across the United States over the next five years. The first deployments will include 350 kW fast charging equipment that can charge two cars simultaneously.
The EVgo project is expected to create more than 180 construction jobs and more than 550 maintenance and support jobs.
Recent recipients of DOE loans include StarPlus Energy, a battery joint venture from Stellantis and Samsung, and Rivian.
[ad_2]