Hyperdrive
In a Single Day, the Electric Car Boom Gains Speed in 3 States
- Investments are part of broader plan to fight global warming
- States want to replace gas guzzlers with electric vehicles
A charging plug connected to a Chevrolet Volt in Los Angeles.
Photographer: Dania Maxwell/BloombergThis article is for subscribers only.
In a single day, the electric car boom may have scored hundreds of millions of dollars of additional investments in three states.
First, New Jersey’s biggest utility owner Public Service Enterprise Group laid out a plan to spend $300 million on electric-car charging stations. Then California cleared utilities to invest a combined $738 million on projects promoting EVs. And the New York Power Authority committed as much as $250 million on charging stations, including ones at airports.