I've pondered this too. I'd probably go with a smallish motor (~10hp, 25+ peak) sitting over the rear axle to the side of the diff with a chain drive going to the U-joint/diff input. It wouldn't have the torque to do take offs, but it'd have enough juice to keep you going without the engine once you're up to a certain speed, and it could regen on braking. You just need to gear it to match the max RPMs of the motor to the top speed you'll ever go and to the RPMs it'll go at the battery voltage you set up. Plus you could pre-charge it for a plug-in hybrid.
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