An electrically variable transmission for a hybrid vehicle includes a pair of drive wheels each driven by a final drive gear/differential mechanism. A planetary differential gear set including a plurality of components provides drive torque to the final drive gear/differential mechanism. A first motor generator is drivingly connected to a first component of the plurality of components of the planetary differential gear set. A second motor generator is drivingly connected to a second component of the plurality of components of the planetary differential gear set. A flywheel is drivingly connected to the planetary differential gear set by a reduction gear. A first brake is connected to one of the plurality of components of the planetary differential gear set.