Vehicular communication plays a crucial role in improving road safety and maintaining traffic efficiency through the exchange of safety messages. Besides road safety, it can also be used to support other nonsafety features such as infotainment services, traffic management, parking assistance, and so on. In this article, we explore a hybrid long term evolution vehicle‐to‐everything architecture where we use both vehicle‐to‐infrastructure (V2I) and vehicle‐to‐vehicle (V2V) communication to simultaneously provide high throughput for infotainment services and maintain high reliability and low transmission delay for the safety messages. To this end, we propose V2I and V2V resource allocation algorithms which support a strict allocation priority for the safety messages over the nonsafety messages. We evaluate the performance of the proposed algorithms by extensive simulations using OMNeT++, INET, and SimuLTE softwares and analyze the simulation data using MATLAB software. The simulation results indicate that, as compared with using only V2I communication, the proposed algorithms decrease the end‐to‐end delay (∼23%, on average) of the safety messages with little degradation (< 10%, on average) in throughput of the background traffic. We compare our proposed algorithms with the existing algorithms and find that the proposed algorithms show a performance gain of 36.5% and 45% in terms of end‐to‐end latency and packet reception ratio, respectively.