Hybrid Manufacturing (HM) and smart assembly stand as pivotal pillars in advanced smart manufacturing systems, offering manufacturers highly efficient and adaptable solutions for manufacturing. This paper delves into the configuration of a production line that integrates HM and assembly stages, each comprising multiple cells, with each cell housing one or more parallel stations. The objective is to manufacture a family of final assemblies, leveraging the platform concept to defer mass customization to later stages and thereby minimize processing costs. A mathematical programming model is proposed to identify the optimal configuration for such production lines, considering constraints such as an allowable capital cost and machine availabilities. In addition, the precedence, inclusion, and seclusion restrictions imposed on the part family are considered. The proposed mathematical programming model aims to delineate which HM features are processed in the part platform cell versus those processed in the mass customization (part variants) cells. Simultaneously, the model determines the components (variants from the HM stage) of final assemblies processed in the assembly platform cell, as well as components assembled or disassembled in the final assembly cells. Furthermore, the model seeks to determine the required number of stations in each cell to meet periodic demand. The overall objective of the model is to minimize the capital and the processing cost. A detailed case study illustrates the effectiveness of the proposed configuration approach and mathematical model. The proposed model is solvable in a few seconds by using commercial solvers.