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In the near future, a significant increase in electric power consumption in vehicles is expected. To limit the associated increase in fuel consumption and exhaust emissions, smart strategies for the generation, storage/retrieval, distribution, and consumption of electric power will be used. Inspired by the research on energy management for hybrid electric vehicles (HEVs), this paper presents an extensive study on controlling the vehicular electric power system to reduce the fuel use and emissions, by generating and storing electrical energy only at the most suitable moments. For this purpose, both off-line optimization methods using knowledge of the driving pattern and on-line implementable ones are developed and tested in a simulation environment. Results show a reduction in fuel use of 2%, even without a prediction of the driving cycle being used. Simultaneously, even larger reductions of the emissions are obtained. The strategies can also be applied to a mild HEV with an integrated starter alternator (ISA), without modifications, or to other types of HEVs with slight changes in the formulation.