3 Electric Vehicle Charging-Related Stocks That Surged on the Infrastructure Bill

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The spending bill will contribute to building 500,000 EV charging units and allocates $65 billion for upgrading the nation’s electrical grid. Furthermore, President Biden’s proposed broader Build Back Better plan has more provisions for tax credits for union-built EVs. According to a Verified Market Research report, the global EV charging stations market size is expected to reach $32.34 billion by 2028, growing at a 33.6% CAGR of 33.6%.

Driven by investors’ optimism, popular EV charging-related stocks, EVgo, Inc. (EVGO), Volta Inc. (VLTA), and Blink Charging Co. (NASDAQ:BLNK) have rallied in price since the passage of the infrastructure bill.

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