by Fred Lambert

The Obama Administration announced today a new set of executive actions to directly accelerate electric vehicle adoption in the US through the expansion of charging infrastructure. The main announcement is the unlocking of up to $4.5 billion in loan guarantees for charging stations, but also an important collaboration between the Federal government and private companies, including some major electric utilities, automakers, charging station manufacturers and operators.

Here are the main bullet points of the new programs via the White House’s website:

The announcement also includes a pledge for the Guiding Principles to Promote Electric Vehicles and Charging Infrastructure signed by major players in the industry like most major electric utilities, as well as automakers like GM, Tesla, BMW, Nissan and Ford, and charging station companies like EVGo, ChargePoint and more.

Other interesting initiatives announced by the White House today include a study on the feasibility of fast-charging up to 350 kW, a new partnership as part of the Battery500 research consortium to bring the cost of batteries per kWh down below $100 and the energy density over 500 Wh/kg with over 1,000 cycles.

The program will award up to $10 million per year for five years and includes 4 national laboratories, 4 universities, IBM and Tesla.