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This paper establishes a new context where the power-electronics-based (PE-based) load, represented by Plug-in Electric Vehicles, dominates the total load composition in power systems. The inherent fast dynamics of PE-based load make conventional approaches of voltage stability analysis unsuitable. Under the new context, the mechanism and impacts of voltage instability under large disturbances have been analytically revealed. The Region of Attraction (ROA) of the stable equilibrium point has been estimated through nonlinear dynamical system theories, which implies a critical clearing time post grid disturbance.