 In 2016, the Obama administration and several stake holders announced $4.5 billion in loan guarantees for public charge stations, along with other iniatives.On March 7, 2012, President Barack Obama launched the EV Everywhere Challenge as part of the U.S. Department of Energy’s Clean Energy Grand Challenges, which seeks to solve some of the U.S. biggest energy challenges and make clean energy technologies affordable and accessible to the vast majority of American households and businesses.The EV Everywhere Challenge has the goal of advancing electric vehicle technologies to have the country, by 2022, to produce a five-passenger electric vehicle that would provide both a payback time of less than five years and the ability to be recharged quickly enough to provide enough range for the typical American driver.