The Biden administration plans on funding $1.7 billion to automotive manufacturers to make more electric vehicles. However, consumer interest in EVs has been declining, largely because of a still poor charging infrastructure. That could open opportunities for commercial real estate owners.

The $1.7 billion will cover 11 projects to help companies expand EV manufacturing. The White House is eyeing to prioritize facilities that either had or were at risk of closing. These are cost-sharing arrangements, so such companies as Fiat Chrysler and General Motors will also need to invest in their projects.

The emphasis might be better put on vehicle charging and not vehicle manufacturing because that is an apparent sore point with consumers. A McKinsey & Co. survey showed that consumer interest in EVs had fallen from last year, as AAA reported. The number of people who would be "likely" or "very likely" to buy a new or used EV was 18%, down from 23% in 2023. And 63% said they were "unlikely or very unlikely" to choose an EV for their next vehicle. Globally, 29% of EV owners are considering moving back to an internal combustion engine vehicle.