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Hybrid electric vehicle (HEV) powertrains are characterized by a complex design environment as a result of both the large number of possible layouts and the need for dedicated energy management strategies. When selecting the most suitable hybrid powertrain architecture at an early design stage of HEVs, engineers usually focus solely on fuel economy (directly linked to tailpipe emissions) and vehicle drivability performance. However, high voltage batteries are a crucial component of HEVs as well in terms of performance and cost. This paper introduces a multitarget assessment framework for HEV powertrain architectures which considers both fuel economy and battery lifetime. A multi-objective formulation of dynamic programming is initially presented as an off-line optimal HEV energy management strategy capable of predicting both fuel economy performance and battery lifetime of HEV powertrain layout options.