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An overhead valve engine (OHV engine) is an engine in which the valves are placed over the cylinder head. This was an improvement over the older flathead engine, where the valves were placed in the block next to the piston.
They place the valves as well as the camshaft above the cylinder(s). This means that all OHC engines are technically OHV engines, but not all OHV engines are OHC engines. With fewer moving parts, there are fewer issues that can arise with OHC models. Also, they run cooler and more efficiently than the OHVs.