Australian auto electrical equipment giant Tritium, which makes chargers for electric vehicles, primes to benefit from President Joe Biden's push for EVs in the U.S. with a new $7.5 billion fast charger plant in Lebanon, Tenn.
The move comes at a time when Biden wants to make charging electric vehicles quick and easy all over America.
The new facility is expected to create over 500 jobs in the region over the next five years, the company said in a statement. Tritium also said it expects to build six production lines to produce 30,000 of its fast chargers a year.
"We are thrilled to work with the U.S. Federal government and the State of Tennessee on this initiative. With the help of the hard-working residents of Tennessee, we expect to double or even triple our charger production capacity to further our product distribution throughout the United States," Chief Executive Jane Hunter said in a statement.
"I welcome Tritium to Tennessee and thank the company for its commitment to create more than 500 new jobs in Wilson County,” said Tennessee Gov. Bill Lee in a press statement.
“Our state’s highly-skilled workforce and position as a leader in the EV industry continue to attract companies like Tritium to Tennessee," Lee added.
Tritium's chargers will "use American parts, American iron, American steel," and will be installed by union workers, Biden said as reported by Reuters.
Biden also announced that this week, the White House will roll out a state-by-state allocation of $5 billion in funding for electric vehicle chargers.
Senior administration officials are expected to share more details about these state allocations and guidance for the bipartisan infrastructure bill's National Electric Vehicle Infrastructure Formula Program later on Thursday evening.
The NEVI program will provide nearly $5 billion over five years to help states create a network of EV charging stations along designated alternative fuel corridors on the Interstate Highway System.
In November, Biden committed billions of dollars in his giant bipartisan infrastructure deal to pay for the installation of electric vehicle chargers across the country.
On Nov. 15, Biden signed the $1 trillion infrastructure bill into law paving the way for new money to be invested in transportation, utilities and broadband.
News of EVs had dominated the Consumer Electronics Show in Las Vegas last month, a sign that the excitement around EVs continues to build, even if the shift in sales is still barely noticeable.
Car companies like General Motors (GM), Ford (F) and Stellantis (STLA) are also pouring money into the development of electric vehicles and battery factories, while EV giant Tesla (TSLA) plans to produce 1.5 million vehicles this year.
