Electric vehicle charging companies struggle to grow as climate bill tightens incentives

Democrats’ climate and tax bill increases incentives to buy electric vehicle chargers, benefiting companies already rushing to build or install them. But licensing and supply issues remain, and financial support will not be a panacea.

Biden administration wants 500,000 public chargers by 2030; McKinsey & Co. estimates that up to 1.2 million are needed. So far, the United States has about 124,000 public chargers, most of which take several hours to charge a car, according to government data.


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