The application is directed to solving the problem of generation of overdischarging from a power storage device according to compensation for reduction in electrical power generated by a first motor generator (MG1) corresponding to reduction in the revolution speed of the MG1. When detection is made of reduction in the revolution speed of the MG1 corresponding to reduction in the engine speed, any of the four following operations is carried out: (1) modifying the output torque of the MG1 such that electrical power generated by the MG1 increases; (2) modifying the output torque of a second motor generator (MG2) such that power consumption by the MG2 is reduced; (3) forcing the control mode of the MG1 to be changed to PWM control from one-pulse switching control; and (4) reducing the DC voltage command value for the converter.