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Demand for Efficient and Low-Emission Mobility Solutions Accelerates PHEV Market Growth
The global plug-in hybrid electric vehicle (PHEV) industry was worth US$ 168.5 billion in 2024. A CAGR of 19.8% is projected from 2025 to 2035, reaching US$ 1,222.4 billion. Global efforts to reduce city tailpipe emissions, transition toward cleaner mobility options, and navigate lingering range anxiety associated with pure battery powertrains are driving the PHEV market. The smart management...
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