Short for Plug-in Hybrid Electric Vehicle.
PHEV is a hybrid vehicle which utilizes rechargeable batteries, or another energy storage device, that can be restored to full charge by connecting a plug to an external electric power source (usually a normal electric wall socket). A PHEV shares the characteristics of both a conventional hybrid electric vehicle, having an electric motor and an internal combustion engine (ICE); and of an all-electric vehicle, having a plug to connect to the electrical grid.
PHEV on WiKi: http://en.wikipedia.org/wiki/Plug-in_hybrid_electric_vehicle
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