When it comes to investing catchphrases, “follow the money” is about as good as it gets. And when it comes to President Joe Biden’s $1.0-trillion infrastructure bill, one of the biggest spending categories is electric vehicle (EV) charging stations.
Recently, all 50 states submitted EV infrastructure deployment plans, which are required under the federal $5.0-billion EV charger program. The infrastructure plan also includes a $2.5-billion competitive grant program for meeting administration priorities.
The money will start to flow soon, so we’ll start to see a major deployment of EV charging stations over the next year or so.
One under-the-radar stock that could benefit from the rising demand for EV charging stations is Volta Inc (NASDAQ:VLTA).
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