⚡️$1B for Truck charging, $900M for states

Happy Monday. This is the 5th Edition of Electric Avenue. We`re the newsletter that Starbucks customers describe as "hot and sweet with a very light spiciness, just like Pumpkin Spice Latte."

Here`s what we have for you today:

• EV & Charging stock performance

• 1 Pic

• 3 Links

• Meme of the Week

This week had some good news for the industry, as the Biden Administration announced the approval of the first 35 state charging infrastructure plans. This will unlock $900M in funding to build EV fast charging along interstate highways. The remaining states` plans have been submitted and are under review, check out this map for details.

1 Pic

This is a photo of what the Ford/Sunrun Vehicle-to-home (V2H) setup for the F150 Lightning EV will look like fully installed. How many boxes does it take to charge/discharge a truck? In order from right to left:

• Ford Charge Station Pro ( up to 80A/19.2kW)

• Backup/Blackstart battery for the Inverter (LFP cells, 216 Wh, RS485 communication)

• Bi-directional inverter (up to 4, 6, 8 or 10kW)

• Automatic transfer switch (grid disconnect during power outage)

3 Links

• $1B for Truck charging: Terawatt Infrastructure raised $1B to build and operate commercial charging hubs. The company came out of stealth last year and it`s CEO Neha Palmer was the former head of energy strategy at Google. This is a huge raise for such a young company but we assume that the funding is tied to hitting certain milestones. Not much is known about the strategy and the level of vertical integration of Terawatt, but digital renderings of their Tucson site seem to show ABB charger hardware.

• PG&E V1G: Weavegrid (the startup behind EV Pulse) and PG&E recently launched a smart charging (V1G) program. Drivers of Tesla, Hyundai, Kia, Toyota, and Lexus EV`s that live in a Tier 2 or Tier 3 fire threat district as defined by this California state map can earn up to $150/yr for signing up.

• More fast chargers made in America: European charger manufacturer ABB announced a new US factory for charging stations this week. This comes just a few weeks after key competitor Tritium opened its first US plant in Tennesee (we reported). Bringing manufacturing to the US will allow these companies to be "Buy America" compliant which could increase eligibility for government funding.

Meme of the Week

DISCLAIMER: None of this is financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.