The reason is a combination of markedly higher CO2-equivalent emissions for manufacturing (two motors instead of one + big battery), increased weight for the same reason which causes an increase in fuel consumption + elevated tire/brakes degradation + decommissioning of the car causes more emissions. And this doesn't include the other negative externalities such as the ecological impact of the additional metal and rare earth extraction.
Hybrid cars only make sense from a CO2 perspective if you charge them and drive exclusively on electricity inside cities, with only an occasional fuel refill before long distance trips.