A vehicle includes an engine, an electric machine, a torque converter, and a first one-way clutch. The torque converter has an impeller rotatably coupled to the engine. The torque converter also has a turbine. The first one-way clutch is configured to, responsive to turbine and electric machine speeds being equal, couple the turbine and electric machine in a first rotational direction to transfer power from the turbine to the electric machine. The first one-way clutch is also configured to, responsive to electric machine speed being greater than turbine speed, isolate the turbine from the electric machine.