Blink CEO applauds Biden spending bill: Charging infrastructure 'very smart investment'
Michael Farkas stresses the need for nationwide EV charging accessibility
Blink CEO Michael Farkas comments on how President Biden's infrastructure bill will impact the electric vehicle market.
President Biden on Monday signed the $1.2 trillion infrastructure bill that allots $7.5 billion to increase and expand electric vehicle charging stations across the nation.
Blink Charging CEO Michael Farkas expressed to "The Claman Countdown" that the president’s inclusion of charging technology as an investment will greatly benefit the growth of the EV market.
"It is tremendously impactful," he said. "There is no way we would have been able to achieve the goals of the administration without the $7.5 billion… This will heavily subsidize our ability to get more infrastructure out into the marketplace which will alleviate range anxiety and allow those who were thinking about getting an EV to more likely purchase an EV."
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Farkas stressed that this kind of expansion in the sector could not have happened without government subsidies. According to the CEO, Blink aims to receive as much of the allocations as possible, especially when global competitors like Europe and China have surpassed the U.S. in technological development.
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"This is really going to help us move the EV market along," he said. "This is a very, very smart investment on behalf of the Biden administration. This is a strategic industry that we need to protect and we need to make sure that we participate in. This will definitely help EVs proliferate throughout the entire country."
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Blink’s charging stations are compatible with all electric vehicle models from Volvo to Tesla and have flexible hardware solutions per location. Farkas added that the administration’s spending will also allow more investors to own and operate their own charging stations.
"We want to make sure that there’s charging infrastructure for everybody," he said. "No matter where you live, no matter where you are in society, we want to make sure charging infrastructure is there for you."