This study is the first of a two-part paper. The overall study presents a new methodology to improve the accuracy of hybrid vehicles’ energy-consumption model over conventional transportation modeling methods. The first paper attempts to improve an equation for vehicles’ driving-power estimation to be more realistic and specific for a particular vehicle model or fleet. The second paper adopts the driving-power equation to estimate the requested driving power. Then, the data are utilized to construct the hybrid-vehicle energy-consumption model, namely, the traction-force–speed-based energy-consumption model (TFS model). The main concept of the first paper is to utilize the power-split hybrid powertrain’s accessible on-board diagnostics (OBD) dataset, and its dynamic model to estimate the total propulsion power. Then, propulsion power was applied as the main parameter for driving-power equation development and vehicle-specific coefficient calibration. For coefficient calibration, this study implemented the stepwise multiple regression method to select and calibrate an optimal set of coefficients. Results showed that conventional driving-power equations Vehicle-Specific Power (VSP) LDV 1999 and VSP Prius3Spec provide low prediction fidelity, especially under high-speed (>80 km/h) and heavy-load driving (≥50 kW). In contrast, D r v P w P r i u s 3 , proposed in this study, effectively improved prediction to become more accurate and reliable through all driving conditions and speed ranges. It dramatically helped to reduce prediction discrepancy over the conventional equations at heavy-load driving, from an R-square of 0.79 and 0.78 to 0.96. D r v P w P r i u s 3 also the prediction error at high-speed driving from the maximal error of approximately −20 to −5 kW. This study also discovered that aerodynamics and rolling resistance were the primary factors that caused the prediction error of conventional VSP equations. In addition, results in this study showed that both of the approaches used to establish the P P T d r v and D r v P w P r i u s 3 equations were valid for a power-split hybrid vehicle’s driving-power estimation. For the coefficient-calibration part, the stepwise and multiple regression method is low-cost and simple, allowing to calibrate an appropriate set of optimal coefficients for a specific vehicle model or fleet.