New York earmarks $750-M for EV charging stations, infrastructure

New York would allocate $750 million to build over 50,000 charging stations and other electric-vehicle infrastructure.

On Thursday, Governor Andrew Cuomo announced the investment program to be funded by the state’s investor-owned utility companies with a budget capped at $701 million through 2025.

An additional $48.8 million would come from a 2017 settlement with German carmaker Volkswagen AG over its diesel emissions cheating scandal.

The investment is part of the state’s long-term goal to reduce emissions.

Florida announced a similar measure of investing $8.6 million to expand charging stations on July 10.

Electric vehicle sales in the US have increased over the past years, although they still made up less than two percent of all vehicle sales in the country last year.

Factors putting off consumers from buying electric cars is the high sticker price and limited charging infrastructure.