Conversion Circuit, Voltage Conversion Apparatus, and Electric Vehicle

A conversion circuit includes a buck-boost unit and a switched capacitor unit. The buck-boost unit may perform buck conversion or boost conversion on a received first input voltage, use a first input voltage obtained after the buck conversion or boost conversion as a forward voltage, and provide the forward voltage for the switched capacitor unit. The switched capacitor unit may perform boost conversion on the forward voltage, and output a forward voltage obtained after the boost conversion as a first output voltage. The conversion circuit may support continuous adjustment of a transformation ratio, and a maximum transformation ratio of the conversion circuit is not limited by a transformation ratio of the switched capacitor unit. The first output voltage of the conversion circuit may be any voltage not less than the first input voltage.