Many leading companies in the automotive industry have been putting tremendous effort into developing new powertrains and technologies to make their products more energy efficient. Evaluating the fuel economy benefit of a new technology in specific powertrain systems is straightforward; and, in an early concept phase, obtaining a projection of energy efficiency benefits from new technologies is extremely useful. However, when carmakers consider new technology or powertrain configurations, they must deal with a trade-off problem involving factors such as energy efficiency and performance, because of the complexities of sizing a vehicle’s powertrain components, which directly affect its energy efficiency and dynamic performance. As powertrains of modern vehicles become more complicated, even more effort is required to design the size of each component. This study presents a component-sizing process based on the forward-looking vehicle simulator “Autonomie” and the optimization algorithm “POUNDERS”; the supervisory control strategy based on Pontryagin’s Minimum Principle (PMP) assures sufficient computational system efficiency. We tested the process by applying it to a single power-split hybrid electric vehicle to determine optimal values of gear ratios and each component size, where we defined the optimization problem as minimizing energy consumption when the vehicle’s dynamic performance is given as a performance constraint. The suggested sizing process will be helpful in determining optimal component sizes for vehicle powertrain to maximize fuel efficiency while dynamic performance is satisfied. Indeed, this process does not require the engineer’s intuition or rules based on heuristics required in the rule-based process.