Hybrid drive for a motor vehicle with a drive train, comprising a combustion engine and a vehicle transmission with variable gear ratio and a first and second electrical machine which can be operated both as a motor and a generator, each of which comprises a stator and a rotor with the second electrical machine being in a permanent nonpositive connection with an input of the vehicle transmission, with a shiftable clutch each being arranged between the electrical machines and the drive shaft of the combustion engine, and with the electrical machines to be connected with each other and/or an electrical energy source via an electronic control circuit. The two electrical machines are to be arranged in a common housing, and one of the stators of the electrical machines together with the electronic control circuit and/or the other stator is accommodated on a common carrier.