It depends
In the case of the Ferrari SF90 it seems the answer is yes. 3 electric motors providing 217 hp combine with a 769 hp combustion engine to make 986
It’s not always true for hybrids. If the electric motor and combustion engine are both tied into the same transmission you could end up limited by the transmission’s ratings.
A Honda Accord hybrid gets 146 hp from the gas engine, 181 from the electric motor, but combined to just 204 hp because the CVT can’t handle the torque
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