CEO is worried about it! The Trump administration's reduction in federal funding may slow down the construction of electric vehicle charging stations.

According to Mark Morelli, CEO of electric vehicle charging station supplier Vontier Corp. (VNT.US), the federal funding cuts by the Trump administration may slow down the installation growth of electric vehicle charging stations across the U.S. The suspension of related funding programs could result in only 200,000 high-speed charging stations in the U.S. by 2030, far below the previous estimate of 400,000. The Federal Highway Administration of the U.S. Department of Transportation announced in February of this year that it would suspend funding under the "National Electric Vehicle Infrastructure" program. The program was initially established by the Biden administration in a bipartisan infrastructure bill, with $5 billion allocated over five years to install electric vehicle charging stations in all states. Morelli said in an interview, "The electrification trend is still ongoing, but without this funding, the growth rate may not meet previous expectations." Trump has made revoking Biden's electric vehicle policies one of the core aspects of his economic agenda. He pledged at the Republican National Convention in July that if reelected, he would "terminate the forced promotion of electric vehicles" on his first day in office. Despite the potential slowdown in growth, the electrification process will not come to a halt. Morelli pointed out that there are currently around 60,000 charging stations in the U.S., and this number will continue to increase in the future. He also mentioned that even before Trump took office, the pace of energy transition in some global regions had already started to slow down. Some car manufacturers have emphasized the importance of a well-established charging network in driving the widespread adoption of electric vehicles. Additionally, some retailers are also installing electric vehicle charging stations at their stores to attract customers.