One key subject matter for effective use of Hybrid Electric Vehicles (HEVs) is searching for drivetrains which their component dimensions and control parameters are co-optimally designed for a desired performance. This makes the design challenge as a problem, which needs to be addressed in a holistic way meeting various constraints. Along this line, the strong coupling between components sizes of a drivetrain and parameters of its controllers turns the optimal sizing and control design of HEVs into a Bi-level optimization problem. In this chapter, an important application of continuous Ant Colony Optimization (ACOR) for integrated sizing and control design of HEVs is thoroughly discussed for minimizing the drivetrain cost, minimizing the fuel consumption and addressing the control objectives at the meantime. The outcome of this chapter provides useful information related to incorporation of soft-computing, modeling and simulation concepts into optimization-based design of HEVs from all respects for designers and automotive engineers. It brings opportunities to the readers for understanding the criteria, constraints, and objective functions required for the optimal design of HEVs. Via introducing a two-folded iterative framework, fuel consumption and component sizing minimizations are of the main goals to be simultaneously addressed in this chapter using ACOR.