Types of Electric-Powered Vehicles Explained

Discover the 5 key electric vehicle types, their market potential, and trading insights. Learn how to expand your inventory with BEVs, PHEVs and hybrid models that appeal to modern buyers.

Electric vehicles are a hot topic these days. The EV market is competing with the traditional car market, transforming the automotive landscape, sparking debates about their benefits, limitations and future potential.

Technology is moving forward, new types of engine systems are developed, and there is more than just one kind of hybrid car, as it used to be the case. 

In this sea of innovation, do you know how to differentiate between all these types of electric vehicles? And the meaning of all the acronyms used to describe them?

Learn how you could expand your vehicle portfolio, respond to your clients’ needs and attract some new clients. Explore your options, recognise potential investment opportunities and stay competitive.

Types of electric cars – A quick comparison

What exactly is a BEV? What differentiates a BEV from an EV? 

Before delving deeper, let’s clear out one thing – EV (electric vehicle) is an umbrella term that includes all electric and hybrid cars. It is also sometimes used to refer to a “true” electric car, whose more precise acronym is BEV or battery electric vehicle.

With that in mind, there are 3 main types of EVs:

• BEVs: Fully electric vehicles with no combustion engine, running entirely on rechargeable batteries.
   
• PHEVs: These bridge the gap between traditional hybrids and full EVs by combining a rechargeable battery (plug-in charging) with a combustion engine, offering flexibility and a longer range.
   
• Hybrids (HEVs): These combine a battery and a gasoline engine, but the battery cannot be plugged in. Instead, it recharges through regenerative braking and the engine itself.
   

Source: Charge Wizard

In addition to these three, there are two more niche types of electric vehicles:

• EREVs (Extended-Range Electric Vehicles): A subcategory of plug-in vehicles, closely related to BEVs and PHEVs. They have a backup gasoline generator (range extender) that kicks in when the battery is depleted.
   
• FCEVs (Fuel Cell Electric Vehicles): A distinct technology that uses an alternative fuel source – hydrogen fuel cells – to generate electricity.

Each kind has its own advantages and disadvantages – it all depends on the needs of the end-user.

Battery electric vehicles (BEVs)

These are fully-electric vehicles with an electric motor and no combustion engine. This means they are zero-emissions vehicles, powered by electricity stored in rechargeable batteries.

EV range is a frequent topic when discussing electric vehicles, and the table above shows significant range variations across different EV types. BEVs stand out with a high range, which, of course, depends on the charging infrastructure. However, as the situation is rapidly changing for the better, investing in BEVs may be a smart move.

EU top five countries, EV charging points: the Netherlands, Germany, France, Belgium, Italy

Even though the map above is for the year 2023, the electric vehicle charging infrastructure is a priority in the EU, so we can expect very good development of the situation.

Examples of BEVs

If you want to expand your offer of used cars and add some used EVs, here are a few safe bets:

• Nissan Leaf: A long-standing, reliable and affordable BEV with low maintenance costs and a strong market presence, making it easy to resell. Spare parts are easily available, and the depreciation rate is lower compared to luxury EVs.
   
• Volkswagen ID.4: Increasingly popular in Europe, offering good depreciation rates and competitive pricing. Volkswagen has always had a strong manufacturing reputation.
   
• Tesla Model 3 or Model Y: You can’t talk about electric cars without mentioning Tesla. Despite the depreciation rate being higher than expected, it’s still a global best-seller with good availability of spare parts and an extensive service network.

Tesla Model 3

What you need to know about battery leasing

In a nutshell, battery leasing comes down to this: sometimes, when you buy a BEV, the lithium-ion battery that powers the vehicle is leased rather than owned. You own the car itself, but not the battery pack inside it.

In practice, this means a few important things for the buyer:

• You don't pay the full upfront expense of the battery – significantly reduced cost of buying a pre-owned EV.
   
• You sign a lease contract, depending on the expected yearly mileage – the more you drive, the more your monthly rate will be.
   
• There are various lease packages. As a car trader, you simply pick the most affordable package and transfer the contract to the new owner once you sell the car.

If you’d like to know more on how this works, we’ve explained battery lease in detail, so you can compare the advantages and disadvantages and see how that fits into your business plan.

Plug-in hybrid electric vehicles (PHEVs)

PHEVs combine flexibility and efficiency, appealing to buyers who want the option of electric driving with the backup of a traditional combustion engine. In terms of this EV’s performance, its electric driving range is moderate, there are still solid environmental benefits of electric cars, but the user is less dependent on the charging infrastructure.

Examples of PHEVs 

Here are some excellent models to consider:

• Volvo XC60 Recharge: This model attracts luxury car buyers transitioning to electrification. It offers higher profit margins for traders and comes strong in corporate leasing markets.
   
• BMW 330e: A luxury PHEV with strong demand in both business and private markets, offering good resale value.
   
• Ford Kuga PHEV: This car has established itself as Europe’s best-selling plug-in hybrid vehicle, offering an attractive combination of performance, efficiency and versatility. Its high demand makes it a strong candidate for car traders catering to diverse customer needs.

Volvo XC60

Hybrid electric vehicles (HEVs)

Also known as self-charging hybrids, HEVs use both an electric motor and a gasoline engine. The electric motor serves to assist the fuel efficiency.

Unlike PHEVs, they can’t be plugged in to charge. They are often favoured for their simplicity, lower initial cost compared to PHEVs or BEVs, and fuel efficiency without requiring charging infrastructure. They essentially capture energy during braking, which EVs generally do, and store it in the battery for later use.

Examples of HEVs 

The Japanese car industry has produced some well-known hybrids that appeal to a large number of buyers, both private and corporate. Here are a few good ones:

• Toyota Corolla Hybrid: A global favourite with exceptional reliability, low maintenance costs and high resale value.
  
  
   
• Hyundai Ioniq Hybrid: Popular, offers competitive pricing, low running costs and excellent fuel efficiency.
   
• Toyota Yaris Hybrid: Known for reliability, low depreciation and excellent fuel efficiency, it’s a very attractive model for various buyer profiles who prioritise value over luxury, which may prove a strong selling point.
   
• Kia Niro Hybrid: High demand in both urban and suburban markets due to its practicality. Offers competitive pricing with good resale value, while spare parts and maintenance are readily available through Kia's global network.

Source: EV Volumes

Extended-range electric vehicles (EREVs)

Extended-Range Electric Vehicles could be understood as a hybrid between BEVs and PHEVs, providing the benefits of extended range without relying fully on combustion power. Their gasoline engine only recharges the battery rather than directly powering the wheels. These vehicles primarily run on electricity, but include a small gasoline engine that generates electricity when the battery is depleted, extending the vehicle's range.

Examples of EREVs

EREVs are a niche but attractive option for buyers looking for the advantages of an EV with added range confidence. A great example of such car is the BMW i3 Range Extender, and its features are similar to other EREVs:

• Unique urban mobility solution
• Strong brand appeal
• Limited production (makes it potentially collectible)
• Innovative technology
• Appeal to tech-savvy traders

Chevrolet Volt is a discontinued but notable example.

Fuel cell electric vehicles (FCEVs)

This is a distinct category of electric-powered vehicles that uses hydrogen fuel cells instead of a rechargeable battery as the primary energy source. FCEVs produce electricity through a chemical reaction between hydrogen and oxygen, generating only water as a byproduct.

• Like BEVs, they are zero-emissions vehicles at the tailpipe and run on electric motors.
   
• Unlike BEVs, they don’t rely on plug-in charging. Instead, they need hydrogen refueling stations.

FCEVs stand apart as a unique alternative to battery-based EVs, ideal for long ranges and quick refueling but limited by infrastructure availability.

Both EREVs and FCEVs are innovative solutions for specific use cases, but they remain less common compared to the main three types due to cost, infrastructure needs and market adoption.

Examples of FCEVs 

In this segment, there is one car that really stands out as the most widely recognised – the Toyota Mirai. This is the first mass-produced and commercially sold fuel cell electric vehicle, with some specific benefits:

• Pioneer in hydrogen technology
• Low production numbers
• Potential for future appreciation
• Attractive to early adopters and technology enthusiasts
• Niche market with potential growth

Toyota Mirai

The Japanese are again strong in this area, offering two more important models: Honda Clarity Fuel Cell (discontinued) and Hyundai Nexo.

There is also some talk about future tax incentives for hydrogen vehicles in the EU.

Find the best deals for used EVs on eCarsTrade!

Whether it’s luxury vehicles for a specific audience or trending practical cars, you can choose from many different models of electric vehicles on our website.

Our battery-electric vehicles include information on battery lease, and our selection of hybrid cars offers various types of reliable, fast-selling models to suit your target buyers.

Whether you are looking to expand your existing offer or are just getting started in the EV market, give us a browse and see how we can respond to your needs. You will even find some damaged cars on offer, if spare parts are what you’re looking for.

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