What you are describing is a serial hybrid vehicle. They aren't really known to be the most efficient since you always have to have that engine -> generator -> batteries -> electric motor -> wheels energy conversion going on. The more steps, the more losses. This is one reason the Volt gets unimpressive mileage when the engine kicks on. Running an engine at peak BSFC definitely helps negate that penalty, but it is still there. So, engine -> wheels is normally going to be more efficient, especially if the engine isn't too oversized. However, it does make for a relatively easy plugin hybrid setup.
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