Electric and Hybrid Vehicle Markets & Architectures

The electric and hybrid vehicle market has been rapidly growing in recent years, with more and more consumers looking for sustainable and environmentally-friendly transportation options. These vehicles use different architectures such as battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs), all of them has benefits and drawbacks depending on the needs of the consumer. BEVs have zero emissions and run entirely on electricity, whereas PHEVs have a longer electric range and can be charged via an external power source, and HEVs use a combination of electric and internal combustion engines. Government incentives and regulations are also influencing the growth of this market. Electric and hybrid vehicles are expected to gain market share and become a more mainstream mode of transportation as technology continues to improve and costs fall.