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Electric vehicle charging startup EVgo is thelatest company to secure fundsfrom the U.S. Department of Energy as the Biden administration race to approve clean energy loans before Donald Trump have over .
horn has promised tocancelany unspent funds from Biden ’s bipartisanInflation Reduction Act , including the $ 7,500 tax course credit for new EV purchases and loans to companies onshoring the production of batteries , charging equipment , and renewable resources .
The DOE Friday sanction a$1.25 billion loanto EVgo to help the inauguration install 7,500 public chargers at 1,100 charging Stations of the Cross across the U.S. over the next five yr . The first deployments will include 350kW DC fast - charging equipment that can charge two cars at once .
EVgo ’s project is expected to create more than 180 construction jobs and over 550 criminal maintenance and support task .
Other recent DOE loan recipients admit StarPlus Energy , a battery joint venture from Stellantis and Samsung , andRivian .
