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1 44
71 83
86 90
166 166
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217 217
1 © Gestamp 2025 1 66 106 89 124 190 145 183 223 200 219 239 1 44 71 83 86 90 166 166 166 217 217 217
H1 2026
Results presentation
July 30
th
, 2026
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2 © Gestamp 2026disclaimer
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© Gestamp 2024
INDEX
PRESENTATION
KEY HIGHLIGHTS FOR
H1
2026
FINANCIAL OVERVIEW
OUTLOOK AND REMARKS
3 © Gestamp 2026
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4 © Gestamp 2026Key highlights of H1 2026 Strong results performance in H1 2026 driving FY 2026 visibility
Revenues
€5,794m
EBITDA(2)
€651m
FCF(3)
Auto Revenue Growth at FX constant ( 1)
EBITDA Margin
(2)
+2.9%
+1.3%
Q2 2026
H1 2026
11.6%
11.2%
1.
Growth rates related to the Auto business (excluding Gescrap) 2.
Excluding Phoenix Plan impact on P&L of € 7.5 m in Q2 2026 and of €10.9m in H1 2026. Reported EBITDA in H1 2026 is € 640 m and in Q2 2026 is € 337 m 3.
FCF calculated as change in net debt excluding acquisitions, dividends, share repurchases and a neutral forex (calculated by inc luding exchange gains and losses, hyperinflation effect and certain translation differences with equity impact). Excluding Phoenix Plan impact on P&L of €
10.9
m & CAPEX of €9.6m in H1 2026
Q2 2026
H1 2026
Positive
FCF Generation
H1 2026
€86m
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5 © Gestamp 2026 Q2 Q1 Light Vehicle Production Volumes
(1)H1'26 AUTO PRODUCTION STALLS ACROSS KEY REGIONS
Limited growth in key regions, with challenging year -
over
-
year comparisons in China impacting global production
42.4
43.4
40.8
27.3
35.8
35.1
39.6
39.8
41.5
41.1
2.4%
-
6.0%
-
33.1%
31.1%
-
2.0%
12.9%
0.5%
4.2%
-
0.9%
H1 2017
H1 2018
H1 2019
H1 2020
H1 2021
H1 2022
H1 2023
H1 2024
H1 2025
H1 2026
Production volumes (Mveh) YoY growth (%) -
3 .1
% 1.
Production volumes in Gestamp’s footprint according to S&P Global Mobility data as of July 2026. Includes content supplied by S& P Global Mobility Copyright © [IHS_LV_Production_Bodystyle_Global_2026M07].
All rights reserved 2.
Western Europe data includes Morocco in line with our reporting H1 2026 Production Volumes
Gestamp
Footprint
H1 2026 vs H1 2025
China
Eastern
Europe
-
1.2 %
-
0.10
-
1 .9%
-
0.04
-
1.3 %
-
0.79
-
5.3%
Mveh
% -
0.00
-
0.0 %
North
America
Western
Europe
(2)
20.3
20.1
Q1'25
Q1'26
+0.7
-
0.5 %
21.1
21.0
Q2'25
Q2'26
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106 89
124 190
145 183
223 200
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1 44
71 83
86 90
166 166
166 217
217 217
6 © Gestamp 2026 1.
Gestamp’s organic growth (excluding
Gescrap
) at FX constant used for comparability with production volumes. Production volumes in Gestamp’s footprint as of July 2026. I ncl udes content supplied by S&P Global Mobility Copyright © [IHS_LV_Production_Bodystyle_Global_2026M07]. All rights reserved. Western Europe data includes Morocco in line with our reporting 2.
Market and Gestamp weighted growth measured with H1 2025 geographical weights as a base 3.
Outperformance calculated excluding China
Mercosur
Western Europe
North America
Asia
Eastern
Europe
-1.3%8.0%
Market
Gestamp
-1.2%
-3.3%
Market
Gestamp5.1%2.3%
Market
GestampGestamp revenues performance compared to the market Out
performance of
+2 .
0 p.p. on a weighted basis (2) at FX constant in H1 2026 Gestamp Auto Business at FX constant
-0.9%1.3%
Market
Gestamp-1.9%-0.9%
Market
Gestamp
H1 2026 Gestamp Auto Business Revenue Growth at FX Constant (1) vs. Market Production Growth in Gestamp Footprint +2 .
1
%0.0%2.6%
Market
Gestamp
+15.5%
Ex China
3
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86 90
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7 © Gestamp 2026Solid organic growth despite a subdued market environment YoY Reported Revenue ( €m) Bridge Chart
5,844
5,794
70 36
Revenues H1 2025
Organic Growth
Gescrap
Forex
Revenues H1 2026 -
157 -
0.9%
YoY
Gescrap
top line
positively impacted
by
higher scrap
prices
in H1 2026
Solid
organic
growth
driven by
Eastern Europe and
NAFTA primarily
Negative forex
evolution
mainly
due to currencies in
Turkey, United
States, Argentina
and India
+0.6
%
+1.2
% -
2.7 %
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8 © Gestamp 2026 Auto business: Focus on profitability improvement as key lever ✓ Cost reduction initiatives ✓
Flexibility
measures
✓
Constructive
customer’s
negotiation
✓ Delivery on Plan Auto Business Revenues & EBITDA YoY -
excluding Phoenix Extraordinary Cost (1) %
Short
-
term actions to
improve profitability
back to peak levels
Revenues
EBITDA
On track for the execution of the FY 2026 guidance
EBITDA Margin
674 H1
2023
11.
4 %
5,922
5,823
627 H1
2024
10.
8 % (2)
H1 2025
11.3%
(2)
5,563
626
+11bps
Y oY
11.4
%
5,477
623 H1
2026
(2)
>11.9%
1.
Excluding Phoenix Plan impact on H1 2024 ( €12.0m), H1 2025 (€9.5m) and H1 2026 (€10.9m)
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9 © Gestamp 2026
Strong
profitability momentum
with a clear path to achieve restructuring targets North America excluding Phoenix Extraordinary Plan
Revenues
EBITDA
%
EBITDA Margin
CAPEX
€9 .6
m 1.
Production volumes in Gestamp’s footprint according to S&P Global Mobility data as of July 2026. Includes content supplied by S& P Global Mobility Copyright © [IHS_LV_Production_Bodystyle_Global_2026M07]. All rights reserved 2.
Excluding Phoenix Plan impact on P&L of €3.4m in Q1 2026 and of €7.5m in Q2 2026. Impact on P&L of €9.5m in H1 2025 and €10.9 m i n H1 2026 P&L
€10.9m
H1 2026
Extraordinary
impacts
555 39
588 52
Q1 2026
Q2 2026
(2) (2)
7.1 %
8.8%
Sequential EBITDA Margin
improvement
quarter
-
on -
quarter in 2026 In a low -
growth
market Environment
Production volumes
in North America (1) H1
2026
%
YoY Evolution
+ 0 .1 % USA
0.0%
North
America
-
0.4 %
MEXContinue Delivering on the phoenix plan as a key priority c.
50 %
Incurred of Total
2026 Impacts
FY 2026E EBITDA
Margin
Committed
to deliver on our
2026
t
arget
> 10
%
1 66
106 89
124 190
145 183
223 200
219 239
1 44
71 83
86 90
166 166
166 217
217 217
10 © Gestamp 2026
Europe
(1)
China
(3) USA
(2) (
€/Tn)
Improving market conditions driving to a significant performance improvement and providing good visibility to achieve YE targets 301 289 288 311 326
Q2’25
Q3’25
Q4’25
Q1’26
Q2’26
260 257
271 277
290
Q2’25
Q3’25
Q4’25
Q1’26
Q2’26
376 357
331 349
365
Q2’25
Q3’25
Q4’25
Q1’26
Q2’26Gescrap : Positive momentum as scrap prices RECOVER +5%
+13%
+5%
+10%
+5% +7%
Source: Bloomberg as of
July
2026
1.
Figures taken from an average between Turkey Steel Scrap (HMS 1/2 80:20) Spot CFR Index and Germany Steel Demolition Scrap (E3) Spot Ex -
Works Index
2.
North America Steel #1 Busheling Scrap Spot Index 3.
China Heavy Steel Scrap Over 8mm Shanghai Price Index Note: Tons of scrap managed by
Gescrap
in the half 1,240k Tons as of H1 2026 and 1,140kTons as of H1 2025 Q1 202 6 6.4 %
10.0
%
EBIT Margin
€ / Ton (4)
Q2 2026
7.6 %
12.2
161
+2.7%
Q2 2026
Q1 202
6 157
Revenue (
€m)
EBIT
( €m)
Scrap prices are progressively recovering from extraordinary negative performance in H2 2025
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11 © Gestamp 2026
INDEX
PRESENTATION
KEY HIGHLIGHTS FOR H1 2026
FINANCIAL OVERVIEW
OUTLOOK AND REMARKS
11 © Gestamp 2026
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86 90
166 166
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217 217
12 © Gestamp 2026 Reported revenues have decreased by -
0.9%
(3) YoY in H1 2026 Reported EBITDA has decreased by -
0.1% YoY
Total Revenue
5,844
5,794
EBITDA
641 651
EBITDA margin (%)
11.0%
11.2%
EBIT
286 276
EBIT margin (%)
4.9%
4.8%
Net Income
75
H1 2026
Excluding Phoenix
(2) (In
€m)Financial Performance in H1 2026
5,794
640
11.1%
H1 2026
Reported
265
4.6%
H1 2025
Reported
110 FCF
(1) 85
Net Debt
2,141
65
1,771
86 Note: All figures including IFRS 16 1.
FCF calculated as change in net debt excluding acquisitions, dividends, share repurchases and a neutral forex (calculated by inc luding exchange gains and losses, hyperinflation effect and certain translation differences with equity impact) 2.
Phoenix Plan impact in H1 2026 on P&L of c.
€10.9m & CAPEX of c.€9.6m and in H1 2025 on P&L of c.€9.5m & CAPEX of c.€5.0m rela ted to restructuring of NAFTA business announced in FY 2023 3.
Revenues for the Auto Business (excluding
Gescrap
) at FX constant have increased by +1.3% YoY in H1 2026
5,844
651
11.1%
295
5.0%
H1 2025
Excluding Phoenix
(2) 99
1 66
106 89
124 190
145 183
223 200
219 239
1 44
71 83
86 90
166 166
166 217
217 217
13 © Gestamp 2026 Non -
cash
one -
off impactsSTRONG NET INCOME IMPROVEMENT year -on-year 1.
SFA amendment closed as of January 8 th .
€1.7bn includes €500m of revolving credit facility that remains undrawn Reported Net Income (In €m)
H1 2025
H1 2026
75 104
110 6
Net one
-
offs
Net Income
excluding
one -
offs
c.
40 %
€15m of write -
downs linked to the extraordinary actions to realign EV exposure initiated in H2 2025, in line with our customers strategy €23m accounting impact at financial income arising from the
€1.7bn
(1) SFA
amend, and extension (IFRS 9) closed
in January
As a result, there is an
€8m positive
impact at EBT level or €6m net of taxes at net profit Strong net profit improvement excluding one -offs 117 162 106
H1 2024
H1 2023
H1 2022
1 66
106 89
124 190
145 183
223 200
219 239
1 44
71 83
86 90
166 166
166 217
217 217
14 © Gestamp 2026Geographic diversification supporting performance 1. NAFTA excluding Phoenix Plan impact on P&L of €10.9m in H1 2026 and of c.€9.5m in H1 2025 H1 2025 H1 2026 Var. (%) H1 2025 H1 2026 Var. (%) H1 2025 H1 2026 W e s t e r n Eu r o p e 209 -3.9% 217 2,117 2,090 -1.3% E a s t e r n Eu r o p e 151 -1.4% 153 1,002 +0.3% 999 N
orth
America
1 91 +12.3% 81 1,143 -0.5% 1,149 M
e rc
o s u r 52 +21.1% 43 402 +2.2% A s i a 120 -8.9% 132 838 -7.2% 904 651 +0.1% 651 5,794 -0.9% 5,844 Gescrap 28 317 24 281
EBITDA
( €m)
Revenues (
€m) EBITDA Margin (%)
10.3
10.0
15.3
15.1
7.1 8.0
10.8
12.8
14.6
14.3
8.6 8.9
11.1
11.2+12.9% +16.6%394
1 66
106 89
124 190
145 183
223 200
219 239
1 44
71 83
86 90
166 166
166 217
217 217
15 © Gestamp 2026 FCF (1) Generation of 86 €m
(1,2)
in H1 2026 (In €m)
Excluding
Phoenix
Reported
(2) Strong positive FCF (1) generation in Q2 offsetting a negative Q1 due to business seasonality
c.36
%
H1 2026
Group Operating
Cash Flow Conversion (3)
Committed with
FY 2026 Guidance of a 35%
range
1,821
1,771
Net Debt
FY 2025
-
49 Net
Debt
Variation
Net Debt
H1 2026
49 65
86 42
20 Net
Debt
Variation
-
0 .2
Minority
acq. / M&A
Dividends
-
26
FX Impact
Free Cash
Flow
Phoenix
Free Cash
FlowSustained Strength in Cash Flow Generation (2) Note: All figures including IFRS 16 1.
FCF calculated as change in net debt excluding acquisitions, dividends, share repurchases and a neutral forex (calculated by incl udi ng exchange gains and losses, hyperinflation effect and certain translation differences with equity impact) 2.
Phoenix Plan impact on P&L of c.
€7.5m and CAPEX of c.€7.1m in Q2 2026 and in H1 2026 on P&L of c.€10.9m and on CAPEX of c.€9.
6m 3.
Operating cash flow defined as reported EBITDA minus net cash capex (investment minus asset disposals). Group operating cash flo w conversion defined as operating cash flow over EBITDA
1 66
106 89
124 190
145 183
223 200
219 239
1 44
71 83
86 90
166 166
166 217
217 217
16 © Gestamp 2026Preserving a strong financial profile Maintaining First Half Deleverage Path
2,080
2,209
2,888
3,037
2,480
2,300
2,224
2,191
2,141
1,771
H1 2017
H1 2018
H1 2019
H1 2020
H1 2021
H1 2022
H1 2023
H1 2024
H1 2025
H1 2026
2.8x
4.0x
2.4x
2.3 x
2.4x
2.2x
1.6x
Net debt to
LTM EBITDA (x)
1.7x
1.7x
Lowest Net Debt
Figure for
a First Half Net debt and
leverage
reduction
Note: 2017 & 2018 figures pre -
IFRS 16 implementation. Reported net debt including Phoenix impact Net Debt in €m
1.4x
1 66
106 89
124 190
145 183
223 200
219 239
1 44
71 83
86 90
166 166
166 217
217 217
17 © Gestamp 2026
INDEX
PRESENTATION
KEY HIGHLIGHTS FOR H1 2025
FINANCIAL OVERVIEW
OUTLOOK AND REMARKS
17 © Gestamp 2026
1 66
106 89
124 190
145 183
223 200
219 239
1 44
71 83
86 90
166 166
166 217
217 217
18 © Gestamp 2026 2026 Forecast Revisions by region
Market context
worsening since FebruaryH1 2026 Updates marked by a Weakening Production Outlook
LV Production
(1) in S&P Global Mobility Geographies (
Mveh
) 1.
Production volumes according to S&P Global Mobility data as of July 2026. Includes content supplied by S&P Global Mobility Copyright © [IHS_LV_Production_Bodystyle_Global_2026M07]. All rights r ese
rved
2.
Production volumes by geographies according to S&P Global Mobility definition, data as of July 2026
Feb 26
Mar 26
Apr 26
May 26
Jun 26
Jul 26
0.7
% YoY
Growth
( 1 ) -
0.2
% YoY
Growth
( 1 ) -
2.1
92.8
92.1
0.8
91.4
0.5 90.
9 0.2
90.7
91.1
0.4 Auto Production Volumes Revisions in 2026 -
1.7
Mveh
Growth
(2)
Feb 26
Jul 26
July seems to stabilize the yearly outlook after a streak of downward adjustments since February
Mercosur
Western Europe
North America
Eastern Europe
2026E
2026E
9.8
22.8
2026E
2026E
-
0.1
22.8
2026E
2026E
0.0
15.1
7.2
2026E
2026E
7.1 3.2
2026E
2026E
3.1
15.0
9.8 0.1
-
0.1 -
0.1 Asia (ex. China)
China
32.5
2026E
2026E
-
1.1
31.3
19 © Gestamp 2026
bRAZIL
N E W p l a n t i n P i r a c i c a b a ( s a o p a o l o ) #8thp l a n t i n t h e c o u n t r y
india
N E W p l a n t i n g u j a r a t #5thp l a n t i n t h e c o u n t r yBalance Sheet Strength Driving Leadership Ambition This map is provided for illustrative corporate communication purposes only .
It is a stylized representation of Gestamp Group’s global presence and is not intended to be, nor should it be construed as, an official or politically accurate map. It does not purport to depict precisely any borders, territorial boundaries, denominations, jurisdictions, or the legal status of any territory, and it implies no opinion or position by Gestamp in that reg ard. Gestamp remains fully committed to strict compliance with applicable laws and regulations in each jurisdiction where it ope rates.
2025A
2029E+4.8%
7.4 6.1
1.3
2025A
2029E+5.9%
3.1 2.5
0.6High growth regions Selective investments with a focus on:
1. adding capacity to capture growth
2. BROADER CUSTOMER DIVERSIFICATION
3. BECOMING MORE “LOCAL”
Sustainable value creationLow growth markets Focus on “rightsizing” 1. Fixed cost control 2. Revaluating capacity to become more
flexible
1.
Production volumes according to S&P Global Mobility data as of July 2026. Includes content supplied by S&P Global Mobility Co pyr ight © [IHS_LV_Production_Bodystyle_Global_2026M07]. All rights reserved (
Mveh
(1) )
(
Mveh
(1)
)America asia
20 © Gestamp 2026
Guidance 2026
Reiterating our 2026 guidance Note: All figures including IFRS 16 and based on current S&P Global Mobility estimated LV production as of February 2026 grow th, at FX constant and extraordinary impacts not forecasted at the time of this release 1.
Reported EBITDA margin excluding Phoenix impact of
€15.9m on
P&L and in the Auto business precisely 2.
Operating cash flow defined as reported EBITDA minus net cash capex (investment minus asset disposals). Group operating cash flo w conversion defined as operating cash flow over EBITDA Group EBITDA Margin (1)
>11.7%
at YE 2026
Auto
Gescrap
>7.4%
at YE 2026
Group Operating
Cash Flow Conversion (2)
in the
35%
range
at YE 2026 Operating cash flow defined as reported EBITDA minus net cash capex(2) 20 © Gestamp 2026
>11.9%
at YE 2026
21 © Gestamp 2026
Closing remarks
Phoenix plan as key
company priority
to
reach
EBITDA margin
targets
H1 2026
Solid
Results
Strong visibility
to deliver FY 2026
Guidance
Reinforcing our
Financial
Profile
Strong
profitability
and FCF
generation
in
H1 2026
reinforcing our
positioning
© Gestamp 20201 66 106 89 124 190 145 183 223 200 219 239 1 44 71 83 86 90 166 166 166 217 217 217
the Partner
supplierGestamp
www.gestamp.com
22 © Gestamp 2026
1 66
106 89
124 190
145 183
223 200
219 239
1 44
71 83
86 90
166 166
166 217
217 217
23 © Gestamp 2026 Reported revenues have increased by +3.5% (3) YoY in Q2 2026 Reported EBITDA has decreased by -
1.1% YoY
Total Revenue
2,861
2,960
EBITDA
341 344
EBITDA margin (%)
11.9%
11.6%
EBIT
165 158
EBIT margin (%)
5.8%
5.3%
Net Income
48
Q2 2026
Excluding Phoenix
(2) (In
€m)Financial Performance in Q2 2026
2,960
337
11.4%
Q2 2026
Reported
151
5.1%
Q2 2025
Reported
61 FCF
(1) 176
Net Debt
2,141
207
1,771
222 Note: All figures including IFRS 16 1.
FCF calculated as change in net debt excluding acquisitions, dividends, share repurchases and a neutral forex (calculated by inc luding exchange gains and losses, hyperinflation effect and certain translation differences with equity impact) 2.
Phoenix Plan impact in Q2 2026 on P&L of c.
€7.5m & CAPEX of c.€7.1m and in Q2 2025 on P&L of c.€2.6m & CAPEX of c.€3.6m relat ed to restructuring of NAFTA business announced in FY 2023 3.
Revenues for the Auto Business (excluding
Gescrap
) at FX constant have increased by +2.9% YoY in Q2 2026
2,861
343
12.0%
168
5.9%
Q2 2025
Excluding Phoenix
(2) 182
24 © Gestamp 2026 Appendix –alternative performance measures This results presentation and any related conference call or webcast (including any related question and answer session) (the "
Presentation
"), in addition to financial information detailed in the Gestamp Group ´ s financial statements prepared in accordance with International Financial Reporting Standards, contains alternative performance measures ("
APMs
") as defined in the Guidelines on Alternative Performance Measures published by the European Securities and Markets Authorit y (
ESMA) on
October 5, 2015.
A breakdown of the explanations and reconciliations of the APMs used in the Presentation, as well as further details about it s d efinitions, can be found, as applicable, in Note 4.6. of the Notes to the Consolidated Financial Statements of the Gestamp Group as of December 31, 2024, in the Management Re por t of the Gestamp Group corresponding to the second quarter of 2025 as well as in the Presentation itself, available both on Gestamp's corporate website (
https://gestamp.com/Investors
-
Shareholders/Economic
-
Financial
-
information
) and on the website of the National Securities Market Commission (Comisión Nacional del Mercado de Valores) (
www.cnmv.es
).
Our APMs are described below:
➢
Outperformance:
Gestamp’s organic growth at FX constant, compared to market production volume growth in Gestamp’s production footprint accord ing to IHS data for a given period ➢
Weighted Outperformance:
Market and Gestamp weighted growth measured with Gestamp’s previous year geographical weights as base for the given period ➢
EBITDA:
Earnings before interests, taxes, depreciation and amortization ➢
EBIT:
Earnings before interests and taxes ➢
Capex:
Capital Expenditures calculated as sum of additions to other intangible assets and property, plant and equipment ➢
FCF:
calculated as change in net debt excluding acquisitions, dividends, share repurchases and a neutral forex (calculated by including exchange gains and losses, hyperinflation effect and certain translation differences with equity impact) ➢
Net Debt:
Total short
-
term and long -
term debt, minus cash and equivalents ➢
Backlog
: Represents sales of parts that the company expects to record including production and awarded business, over a period of ti me ➢ Sales of Parts:
Revenues excluding revenues from
Gescrap
, as well as scrap and tooling prototypes ➢
ROCE:
Return on capital employed calculated as EBIT divided by capital employed minus growth capex for the last 1.5 years ➢
Capital Employed:
calculated by total assets adjusted for those balance sheet items that do not generate EBIT for the company and minus current li
abilities
➢ Total Assets adjustments: Goodwill (excluding
Gescrap
Goodwill), Patents &
Licences
, Prepayment, Other NCA, Deferred Tax Liabilities, Other Receivables, Current Income Tax Assets, Receivables from Public Authorities, Cash and Cash Equivalents and Other Current Financial Assets ➢ Current Liabilities adjustments: Short Term debt, Current Tax Liabilities, Payables with Public Authorities, Other Short Term Fi nancial Liabilities, Financial Debts with Associates and Dividends ➢ EV (Electric Vehicle):
Includes battery electric vehicles (BEV), plug -
in hybrid electric vehicles (PHEV), fuel cell electric vehicle (FCEV) & plug -
in f
uel cell electric vehicle (PFCEV)