Electric drive systems consisting of battery, inverter, electric motor and gearbox are applied in hybridor purely electric vehicles. The layout process of such propulsion systems is performed on system level under consideration of various component properties and their interfering characteristics. In addition, different boundary conditions are taken under account, e. g. performance, efficiency, packaging, costs. In this way, the development process of the power train involves a broad range of influencing parameters and periphery conditions and thus represents a multi-dimensional optimization problem. Stateof-the-art development processes of mechatronic systems are usually executed according to the V-model, which represents a fundamental basis for handling the complex interactions of the different disciplines involved. In addition, stage-gate processes and spiral models are applied to deal with the high level of complexity during conception, design and testing. Involving a large number of technical and economic factors, these sequential, recursive processes may lead to suboptimal solutions since the system design processes do not sufficiently consider the complex relations between the different, partially conflicting domains. In this context, the present publication introduces an integrated multi-objective optimization strategy for the effective conception of electric propulsion systems, which involves a holistic consideration of all components and requirements in a multi-objective manner. The system design synthesis is based on component-specific Pareto-optimal designs to handle performance, efficiency, package and costs for given system requirements. The results are displayed as Pareto-fronts of electric power train system designs variants, from which decision makers are able to choose the best suitable solution. In this way, the presented system design approach for the development of electrically driven axles enables a multi-objective optimization considering efficiency, performance, costs and package. It is capable to reduce development time and to improve overall system quality at the same time.