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This paper presents a novel approach to the solution of the energy management problem of a microturbine-powered plug-in hybrid electric vehicle (PHEV). A series hybrid midsize sedan, utilizing a microturbine and a chargeable Li-ion battery stack as its primary energy source and energy storage system, respectively, is modeled in this paper. The equivalent consumption minimization strategy (ECMS) is utilized to minimize the driving cost based on Pontryagin's minimum principle. To identify the equivalent factor (EF), a new concept called the energy ratio is defined, which is demonstrated to be closely related to the EF over all possible trips. By detecting the vehicle position with a telemetry system and measuring the battery state of charge (SOC), the EF is updated in real time and is used as an input for the computation of the ECMS. Simulation results demonstrate that the proposed ECMS exhibits driving cost and diesel consumption equivalent to that determined from numerical dynamic programming. Significantly, the proposed approach reduces the driving cost from 7.7% to 21.6%, compared with a baseline control over both urban and highway cycles. In addition, through numerical simulations, the computational cost of the proposed strategy is demonstrated to be acceptable for industrial applications. Furthermore, because this strategy uses the feedback of the battery SOC, the control performance is insensitive to the control parameter errors.