As electric vehicle-focused companies look toward the future of federally supported infrastructure electrification programs, it is important to consider what funding sources remain on the table for fiscal year 2026. Large amounts of federal dollars are still available for private and public enterprises alike through the $5 billion National Electric Vehicle Infrastructure (NEVI) Formula Program, created under the Infrastructure Investment and Jobs Act (IIJA).
Funding for the NEVI program is apportioned out at approximately $1 billion for fieve years, beginning in FY 2022 and running until FY 2026. As of February 2026, of the 3.27 billion dollars available to states, only 16.1% ($526.6 million) has even been obligated to perform contracts.
With nearly $2.7 billion in funding still unobligated, organizations that move quickly may gain access to one of the largest remaining federal infrastructure funding opportunities available today.
As NEVI approaches its twilight, it is crucial for businesses to capitalize on remaining funding to secure lucrative business development using government dollars still up for grabs.
Shepherd, with proven experience and expertise in the electric vehicle industry, is well-positioned to both advance client interests and win by finding, successfully requesting, and utilizing remaining NEVI funds. NEVI funds are dedicated to the NEVI Formula Program and generally cannot be transferred to other FHWA programs. Because Congress appropriated them as no-year funds, they remain available until expended unless Congress rescinds or repurposes them. Currently in Congress multiple proposed bills look to take away unobligated NEVI funds, including: H.R.1513 – Unplug the Electric Vehicle Charging Stations Program Act and H.R.1052 – UNPLUG EVs Act. Acting now to put forward project proposals in targeted states will better guarantee that the remaining dollars are put to use.
The most attractive business development opportunities often exist before construction begins, when awarded developers may still require subcontractors, equipment providers, engineering support, or project partners.
The government contributes up to 80% of the capital costs associated with building, maintaining, and developing EV infrastructure. Businesses or states only have to contribute to 20% of funding costs for any given project. This is crucial for companies looking to support their EV related business, as they can capitalize on the remaining available funds before FY 2026 comes to a close. If NEVI funds remain unused, they do not automatically flow into FHWA’s regular highway programs. However, Congress could rescind or repurpose unobligated balances, and companies could lose access to NEVI’s 80% federal cost share if the program is curtailed or terminated.
Note: Fully Built Out States still offer grants for non-Alternative Fuel Corridor (AFC) locations.
While RFP deadlines have passed or close soon in many states, opportunity for subcontracting with awarded companies is still available. Large amounts of funding are still available for EV projects, and the market will continue to persist after NEVI officially ends.
Key ways Shepherd Strategies supports clients include:
To understand how current federal and state policy shifts affect your data center strategy, connect with Shepherd Strategies.
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