A prototype plug-in hybrid featuring lithium ion batteries from A123Systems and designed by Hybrids-Plus, Inc. gets the equivalent of 125 miles per gallon, according to the companies. The press release also says the vehicle can provide power to the grid, which begs the question "Why?"
The regenerative braking systems today only capture a small percentage of the energy needed to recharge the batteries, hence the need to plug in the vehicle. Using the gasoline engine to recharge the batteries and then send out electricity is also energy inefficient, especially compared with other methods of loading the power grid.
Using the engine to charge the batteries makes sense for a utility vehicle that needs the extra electricity for tools, but to put power back on the grid seems nonsensical.