1、Global and China Range ExtendedElectric Vehicle(REEV)and Plug-inHybridElectricVehicle(PHEV)Research Report,2024-2025D Research on REEV and PHEV:Head in the direction of high thermal efficiency and large batteries,andthere is huge potential for REEVs to go overseasIn 2023,9 million hybrid vehicles(PH

2、EVs+REEVs+HEVs)were sold worldwide,accounting for 10.1%of the totalvehicle sales.It is expected that over 12 million hybridvehicles will be sold in 2024,making up of more than13.5%of the total sales.In 2023,4 million PHEVs&REEVs were soldworldwide,a year-on-year spike of 49.8%.It isestimated that th

3、e sales will reach 6 million units in2024.From 2020 to 2024,the global sales ofPHEVs&REEVs sustained a high annual growthrate,up to 65%,thanks to the boom in the Chinesemarket.In 2023,5 million HEVs were sold worldwide,jumping by 34.4%year on year.The sales areexpected to hit 5.2 million units in 20

4、24.From 2021to 2024,the global HEV market maintained anaverage annual growth rate of over 30%.From January to September 2024,the global sales of plug-in hybrid vehicles includingextended range vehicles(PHEVs&REEVs)exceeded general hybrid vehicles(HEVs)for the first time.Compared with HEVs,PHEVs&REEV

5、s save more energy and aregreener,and their prices have been much lower than before.It is expected that PHEVs&REEVs will become mainstream among hybrid vehicles to be sold in Global Hybrid Vehicle Sales Structure(PHEVs&REEVs&HEVs)by Region,2019-2024Asperthesalesofglobalhybridvehicles(PHEVs&REEVs&HEV

6、s)by region,Chinahas become the mainhybridvehiclemarketsince2022mainlythankstothesurgingsalesofPHEVs&REEV Hybrid vehicles are developing towards high thermal efficiency,large batteries,and long range1.The thermal efficiency of engines for PHEVs&REEVs has reached 46%in China.Most traditional fuel veh