Despite federal efforts to freeze funding for a crucial $5 billion EV charging infrastructure program, New York is taking proactive steps by supporting the expansion of electric vehicle (EV) charging stations. Revel, an EV charging infrastructure startup, recently secured a $60 million loan from the NY Green Bank to significantly enhance its fast charging network in New York City. The investment will facilitate the development of nine new sites, translating to 267 stalls by 2027. New York aims to support the transition to electric vehicles, especially in urban areas, by increasing available public charging options and reducing emissions.
It's critical that we continue to build electric vehicle infrastructure to ease the shift to EV ownership for more New Yorkers, especially in urban areas.
The $60 million loan signals NY's commitment to electric vehicles and that debt lenders see EV charging infrastructure as a returnable investment.
#electric-vehicles #infrastructure-development #sustainable-energy #state-initiatives #urban-planning
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