The Electrified Vehicle market encompasses Electric and Hybrid Vehicles. Electric Vehicles (EVs) are powered solely by electricity, while Hybrid Vehicles (HVs) combine an internal combustion engine with an electric motor. EVs are typically more expensive than HVs, but offer greater range and performance. EVs are also more environmentally friendly, as they produce no tailpipe emissions. HVs, on the other hand, are more affordable and offer greater fuel efficiency than traditional gasoline-powered vehicles. The Electrified Vehicle market is growing rapidly, driven by increasing consumer demand for more efficient and sustainable transportation options. Governments around the world are also providing incentives to encourage the adoption of EVs and HVs. Notable companies in the Electrified Vehicle market include Tesla, Nissan, Toyota, Volkswagen, and General Motors. Show Less Read more
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