Provided for a vehicle is an electrically variable hybrid transmission and powertrain utilizing a flywheel for energy storage. The flywheel is connected to an output shaft of the transmission and a first electric power unit through two planetary gear sets. Also provided is a second electrical power unit selectively coupled to an input shaft of the transmission and continuously coupled to an output shaft of a mechanical power source. The transmission, first and second electrical power units, flywheel, and mechanical power source cooperate to provide a continuously variable rotational speed to a final drive to propel the hybrid powertrain equipped vehicle.