National Grid Statement on President Biden's Clean Transportation Executive Order

Rhea-AI Summary

On August 9, 2021, Badar Khan, President of National Grid, praised President Biden's executive order targeting 50% electric vehicle sales by 2030. The order aims to address over 40% of Northeast greenhouse gas emissions from transportation. National Grid emphasizes the importance of expanding charging infrastructure to achieve net-zero goals and plans significant investments, including $200 million for 19,000 charging ports and a proposed $277 million for 32,000 more ports in Massachusetts. The company is committed to converting its fleet to 100% electric by 2030.

Positive

• National Grid's commitment to invest $200 million in electrifying the Northeast, with plans for 19,000 charging ports.
• Proposed additional investment of $277 million to deploy 32,000 charging ports in Massachusetts.
• Commitment to convert to a 100% electric fleet by 2030 for light-duty vehicles.

Negative

• None.

WALTHAM, Mass., Aug. 9, 2021 /PRNewswire/ -- A statement from Badar Khan, President, National Grid, US on the Biden administration's clean transportation announcement:

"National Grid applauds President Biden's executive order establishing a target that half of all vehicles sold in the United States be electric by 2030 and proposed rules to restore and strengthen tailpipe emissions and fuel economy regulations. Electrifying transportation, which represents more than 40 percent of the Northeast's greenhouse gas emissions, is the next great hurdle in realizing a net-zero future. A national effort will be crucial to developing the markets of scale and the networks necessary to support this transformation.

We believe that charging availability is an essential link to achieving our decarbonization goals and EV deployment. National Grid will continue to collaborate with our government and industry partners and provide practical leadership towards reaching our shared net-zero commitments."

National Grid is committed to leading by example on electrifying transportation:

• National Grid has committed to Net Zero and converting to a 100 percent electric fleet by 2030 for our light-duty vehicles while also pursuing the replacement of our medium- and heavy-duty vehicles with zero carbon alternatives.
• We are already committed to invest $200 million to electrify the Northeast, including 19,000 planned charging ports and recently proposed another $277M to deploy 32,000 more ports in Massachusetts.
• In May, we joined the Electric Highway Coalition, which is comprised of utilities and other industry partners bound to employing an EV charging station network to bridge gaps between U.S. cities.
• National Grid supports the Transportation Climate Initiative (TCI), which seeks to reduce carbon emissions from the transportation sector.

About National Grid

National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York, Massachusetts, and Rhode Island. National Grid is transforming our electricity and natural gas networks with smarter, cleaner, and more resilient energy solutions to meet the goal of reducing greenhouse gas emissions. As part of our commitment to a clean energy future, National Grid is a Principal Partner for COP26, the UN global climate summit, which will be located in the UK in November 2021.

For more information, please visit our website, follow us on Twitter, watch us on YouTube, like us on Facebook and find our photos on Instagram.

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SOURCE National Grid

FAQ

What is National Grid's investment plan related to electric vehicle charging?

National Grid plans to invest $200 million to create 19,000 charging ports in the Northeast and has proposed an additional $277 million for 32,000 more ports in Massachusetts.

What are the targets set by President Biden's clean transportation executive order?

The executive order aims for 50% of all vehicles sold in the U.S. to be electric by 2030.

What commitment has National Grid made regarding its fleet by 2030?

National Grid is committed to converting its fleet to 100% electric for light-duty vehicles by 2030.

How does National Grid plan to support decarbonization?

National Grid believes that increasing charging availability is crucial for achieving decarbonization goals and has taken leadership roles to promote EV deployment.