Obama administration to invest $4.5 billion in EV...

Obama administration to invest $4.5 billion in EV infrastructure. The U.S. Department of Energy released a plan to offer loan guarantees to build a coast-to-coast network of EV recharging stations, with the intention of accelerating the growth of the EV market. The initiative will involve federal, state, and local governments, working in partnership with major automakers including Ford (NYSE: F),General Motors (NYSE: GM), Nissan Motor (NYSE: OTCMKTS: NSANY), and Tesla (NASDAQ: TSLA). The plan hopes to build a network of fast-charging EV stations across the country by 2020. As Bloomberg notes, the automakers have ambitious plans for EVs. Ford will spend $4.5 billion on 13 new EV models by 2020, while GM will unveil its Bolt model this year, an affordable long-range EV.