AbstractThermoplastic vulcanizates (TPVs) are special classes of thermoplastic elastomers, in which dynamic vulcanization of the rubber phase takes place during melt mixing with a semicrystalline thermoplastic matrix phase at elevated temperature. This review article focus on the different types of thermoplastic vulcanizates (TPVs) from various elastomer and thermoplastic blends that are suitable for the automotive applications purpose. A detailed study of the various TPVs based on polypropylene‐ethylene propylene diene rubber (PP‐EPDM) and polypropylene‐ethylene α‐olefin has been focused and their application in the automobile sector has been summarized. Most of the commercially available TPVs are PP‐EPDM based. Limited applications of that TPVs in high heat and oil resistant application purposes requires new generation of TPVs. High performance TPVs or super TPVs are new generation TPVs that exhibit high heat resistance as well as excellent oil resistance property suitable for automotive under‐the‐hood applications. Therefore TPVs based on XNBR‐PA12, HNBR‐PA12 and FKM‐PA6 system has also been explored in details in this study and the possibility of the use of those TPV system has been focused for the high temperature application purpose in the automobile sector where high and oil resistant application properties is the prime concern.