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IMO all that's needed is a parallel hybrid w/ an appropriately integrated transmission to beat a series hybrid. The biggest issue IMO, also why everyone is jumping on the EV bandwagon, is that Toyota has built a huge portfolio of hybrid patents, and anyone who wants to use something remotely close to their parallel system has to license through them, and if they don't then they tend to have a subpar system in terms of vehicle efficiency, eg the smaller Honda Insight/Civic hybrids get worse mileage than the larger Prius.
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