The U.S. government has set a subsidy budget of about $5 billion by 2030 for the NEVI program. This is a large-scale project to build a total of 500,000 charging stations across the U.S. by installing fast or super-fast charging stations every 50 miles (80 kilometers) on highways. To receive subsidies, foreign companies should meet various requirements such as producing chargers in the U.S.
SK Signet said in a statement that the company will provide more than 1,000 ultra-fast EV chargers to Francis Energy by 2027. The South Korean EV charger manufacturer said its American client is currently supplying more than 550 EV chargers in eight states in the U.S. "Our partnership with Francis Energy and deployment of ultra-fast chargers will help make the option of driving an EV a reality for more Americans," SK Signet CEO said in a statement on July 17. SK Signet has not disclosed the exact contract price.
"SK Signet's ability to adjust rapidly to an evolving market - including its ability to easily and quickly integrate any adopted standard, including the North American Charging Standard (NACS) into its hardware solution - is a testament to its skill as a world-class organization," said Francis Energy CEO David Jankowsky.
In June 2023, the South Korean company completed the construction of a factory capable of producing more than 10,000 ultra-fast chargers every year in Plano, Texas. The products would be distributed to SK Signet's clients such as Electrify America, a Virginia-based fast charging station manufacturer.
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