A good way to think about it, is if you have a well ventilated HPS system running with temps staying around the optimal 78 degrees and you switch in a close to equal wattage LED you will see slightly lower ambient temps, if not significantly lower temps. Really depends on the set up.
Any space without ventilation will build up heat to an ambient point and some people would argue you should always have some kind of ventilation running just to keep fresh air moving through the grow space. Helps prevent mold and contributes to a plants health in a multitude of ways.
But yea, no ventilation = heat.
Well if you're growing inside a closed cab without ventilation your plants will quickly use up all available CO2.
Unless you're also actively supplementing C02 (and for that you'll still have to vent out some air), your plants will quickly stop growing, and your entire grow won't go anywhere. In short, if you're growing in any small enclosed space you MUST ventilate, even if heat isn't an issue.
In terms of temps, the only reason LEDs put out less heat then HPS on a watt for watt basis is that the nominal watt rating on both is misleading.
Due to the ballast, HPS bulbs generally suck MORE wattage than the number their rated at. My understanding is that a typical "400W" HPS actually draws closer to 475 watts.
In contrast, LEDs generally suck quite a bit less because the diodes themselves are not being driven to their nominal power rating, otherwise they would overheat and greatly reduce their operating life. Actual draw varies between panel and maker, but a nominal "240W" LED panel typically only draws 130 actual watts.
In other words if you're running 400 nominal watts of LED, you're only really using 216 watts, explaining why LEDs run "cooler".
If you want to equal the ACTUAL power draw of one 400 watt HPS lamp, you might have to run a nominal 875 watts of LEDs!
Again, on a true watt-for-watt basis, HPS and LEDs will generate fairly comparable amounts of heat. The difference there (at least in theory) is that because the LED spectrum "ought" to be better tailored to growing plants, the LED should be more efficient on a watt-for-watt basis.