Cheaper tech, savings at pump: Hybrid cars selling fast than fully EVs

While hybrids, which blend the power of a gasoline engine with electric motors and batteries, are now more than two decades old - the first Prius debuted in Japan in 1997

Hybrid cars are seeing a quiet resurgence as the boom in electric vehicles spurs automakers to give the older, cheaper technology a second look.

This year has been an extraordinary one for electric-car manufacturers. Investors have embraced makers of pure-electric vehicles, driving the share prices of Tesla Inc. and Chinese competitor Nio Inc. to stratospheric levels. Drivers are also coming on board, with EV sales from China to Europe rising despite the pandemic.

But the market risks becoming a crowded one, with more than 500 EV models expected to be available globally by 2022. Many conventional automakers are mulling their options, trying