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The integration of smart grids with Advanced Metering Infrastructure (AMI) has bridged the realms of the Internet of Vehicles (IoV) and Electric Vehicles (EVs), yet challenges persist in managing EV Battery Range and charging infrastructure effectively. This paper presents an innovative IoV-based framework tailored for EVs, with a specific focus on forecasting electricity consumption in a Vehicle-to-Grid (V2G) scenario. By exploring the hurdles surrounding electric vehicle usage, the research lays the foundation for Electric Vehicles (EVs). The proposed IoV model optimizes IoT sensor utilization through a fog layer and employs a Back Propagation (BP) neural network for battery State of Charge (SoC) estimation, integrating Principal Component Analysis (PCA) for data dimensionality reduction. Leveraging substantial computing capabilities, the cloud layer predicts Electricity Consumption Data (ECD) associated with EVs in V2G scenarios. Performance evaluation metrics like Akaike Information Criteria (AIC), Mean Error (ME), Mean Absolute Error (MAE), Mean Absolute Percentage Error (MAPE), and Root Mean Squared Error (RMSE) are assessed across state-of-the-art forecasting algorithms. Incorporating EV potential into the optimal model reveals a significant 10% reduction in electricity demand. This research advances IoV-based frameworks, offering insights to enhance EV efficiency within the broader energy infrastructure. • An innovative Internet of Vehicles (IoV) framework for depicting electricity demand on the demand side in V2G scenarios. • In-depth experimentation and evaluation of the state-of-the-art approaches of clustering and forecasting. • The devised model successfully projected a 10% decrease in demand side for consumers. [ABSTRACT FROM AUTHOR]