A hybrid drive of a motor vehicle comprises an internal combustion engine with a drive shaft, an electric machine having a rotor and being operable as a motor and as a generator, and a multistage conventional gearbox with two coaxially arranged input shafts and a common output shaft. The first input shaft is arranged centrally within the second input shaft which is embodied as a hollow shaft. The first input shaft can be connected to the drive shaft of the internal combustion engine via an assigned clutch; the second input shaft has a drive connection to the rotor of the electric machine; and the two input shafts can be selectively placed in a drive connection with the output shaft via a plurality of gearwheel sets with a different transmission ratio and a shiftable speed clutch.