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A hot-carrier-injection (HCI) lifetime model of high-voltage (HV) N-channel transistors based on physical and mathematical basis is proposed. HV N-channel transistors show two peak values in the substrate-current-gate-voltage curve due to two high-electric-field regions (THFRs). The THFRs of HV transistors are found to be responsible for two coexistent HCI degradation mechanisms-interface trap generation and hole injection. The HCI lifetime model is modified based on the combined degradation mechanisms and updated substrate current model in HV N-channel transistors.