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California approves largest ever utility program to expand EV charging

Stock MarketsAug 27, 2020 08:50PM ET
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2/2 © Reuters. Charging station for electric vehicles is pictured in Pasadena 2/2

(Reuters) - California on Thursday approved a $437 million effort to build thousands of electric vehicle chargers, its utility regulator said, calling it the nation's largest ever utility program to expand charging infrastructure.

The money will go to utility Southern California Edison (A:SCE_pe) to fund the installation of nearly 40,000 chargers, the California Public Utilities Commission said in a statement.

The program will help the state achieve its goal of putting 5 million zero-emissions vehicles on the road by 2030, the CPUC said.

Half of the investment must take place in low-income communities, and 30% will be dedicated to multi-family residences, where it is more difficult to charge an EV.

Southern California Edison is a unit of Edison International (NYSE:EIX).

California approves largest ever utility program to expand EV charging
 

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Comments (2)
Jo Pa
Jo Pa Aug 27, 2020 8:24PM ET
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50% of America's homeless live in California, and now they want to use tax money to subsidize electric cars that only the wealthiest can afford??
Dan Hodel
Dan Hodel Aug 27, 2020 8:24PM ET
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California pays more federal taxes than any other state. Is Louisiana going to send California a check with interest for paying their bailout on hurricane Laura?
Franco Dominguez
Franco Dominguez Aug 27, 2020 8:24PM ET
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rich lives matters
Robert Laird
Robert Laird Aug 27, 2020 7:47PM ET
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California doesn't even have enough electricity to power their houses, let alone their cars.
 
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