Chaevi plans US production base to qualify for federal subsidies

Electric vehicle (EV) power equipment maker Chaevi said Friday that it is moving to establish a U.S. production base to qualify for federal subsidies, as the government accelerates the rollout of multibillion-dollar infrastructure grants. Under the U.S. National Electric Vehicle Infrastructure (NEVI) program, established by the Infrastructure Investment and Jobs Act, federal and state governments have jointly committed $5 billion to install charging infrastructure along the nation’s major interstate highways. Of the total budget, approximately 16 percent has been reportedly disbursed to date, leaving the bulk of anticipated contracts still to be awarded. With funding concentrated in major states including California and Texas, securing a local manufacturing presence has become a key competitive factor. Chaevi said it will move to respond flexibly once the detailed requirements under the Build America Buy America Act are finalized. According to the EV fast-charging infrastructure operator, the U.S. DC-type fast-charging market has grown at an average annual rate exceeding 30 percent, su