Peltier Chips in a Cars Radiator

I will admit I've never worked with a peltier chip or know much about them but, I wanted to share an idea I have for a more fuel efficient car.

In this diagram I have edited a skemmatic of an engines water cooling system to incorporate two water blocks similar to what you might find in a water cooled PC A large peltier chip  and a secondary water pump.

So I'm thinking this would be a great way to extract more energy out of the internal combustion engine, to be used with an electric motor  in a  hybrid car. Only down sides I can see would be the heat transfer from one water block  through the peltier chip into the next waterblock to be expelled and the fact you need 2 water pumps...

anybody think  this is a good idea? I'd love to hear your input.