$Lucid(LCID.US)$ shares up more than 9% on Monday.
The House of Representatives has approved President Joe Biden's massive $1.2 billion infrastructure bill. This bill includes efforts to speed up the U.S.'s push toward electric vehicles (EVs). As a result, EV stock LCID is on the rise.
Included in the bill is $7.5 billion to create an EV charging networks across the U.S. This would help curb one of the major problems that EVs currently face, which is limited range due to battery size and a lack of charging stations.
It makes sense that LCID is on the move with today's news. A new network of charging stations around the U.S. will likely ease the concerns that consumers have about EVs. That means Lucid Motors, and EV other companies, could see a boost in sales as more customers consider electric over gas for their next vehicle purchase.
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