Hybrids get their MPG by using an engine tuned for steady RMP output. Specifically a modified Atkinson cycle engine.Some other thoughts about the 2.7-if Ford offers a hybrid 2.3L, that would roughly make the same amount of power as the 2.7L V6, so that would be another reason for it be dropped from the Bronco.
Atkinson cycles engine are miserable to drive, but great for mpg.
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