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Next 10 report finds California will meet or exceed original target of 1.5M ZEVs by 2025

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However, California is lagging behind when it comes to ensuring its charging infrastructure keeps up with the growth of its electric vehicle fleet, the report finds. Bloomberg New Energy Finance estimates battery cost will decline by almost 10% until 2025, when ZEVs will reach price parity with ICE vehicles. But it works out to only 0.05