Pretty much any energy recovery technology we apply to a vehicle (regen included) is less efficient than leaving the energy as is and focusing on reducing usage. That's why the order is Reduce, Reuse, Recycle.
Reduce = rather obvious, reduce the amount of energy required to move the vehicle.
Reuse = coast down a hill and use the momentum to roll up the next.
Recycle = Regen, when you've either used too much energy in the first place, or need to "clear out" momentum (stop light, deer runs out in front of you, SUV pulls out in front of you, etc.). Send the energy back to where it came from (battery) to be used again.
We're facing the same dilemma as using Hydrogen as an energy carrier. Besides the better range, lithium ion beats out hydrogen in efficiency, self-discharge, and safety. A hydrogen car has the same or worse efficiency than ICE cars. About half of the energy is lost going from water to H2, and the same for the reverse. There are also transmission losses since hydrogen will leak through metal. So to gain a few more miles range, you are using more than 4 times more energy with hydrogen vs. 90% efficiency for lithium ion with almost no self discharge.