In order to encourage adoption of electric vehicles (EVs), auto incumbents and tech companies are racing to bolster EV charging infrastructure.
For instance, a wave of auto OEMs have recently announced plans to adopt Tesla’s North America Charging Standard (NACS), indicating growing alignment across the industry and paving the way toward a more standardized and efficient charging network.
The industry is also benefiting from substantial government investment, such as the US federal government’s recent commitment of $5B to support states in deploying EV chargers in underserved communities. This is expected to help democratize access to EV charging infrastructure around the country.
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