However adding regenerating shield points to each vehicle would change ground combat significantly.
Regenerating health would make sense if the current ground combat system involved damaged units, however at the moment ground units either die or survive unscathed.
In the current system the shield should either make it more difficult to kill the unit or make them more difficult to hit.
I'm not 100% sure why Steve didn't include damaged ground units but I imagine he decided it would add too much hassle for too little gain.
The major reason for this, aside from not wanting to model to that granularity, is that the combat is implemented per group of elements rather than per individual element. If you have, for example, 30x medium tanks and 300x infantry in a formation, the game models these as two targetable groups rather than 330 individual targets. Given that ground combats can easily involve millions of tons of units and thus potentially millions of elements, it's not too hard to see why this simplification is necessary for performance reasons, but it does mean that damage levels on individual units are not really technically feasible.
You could implement individual damaged units like this:
Unit is hit but armour protects unit, no effect.
Unit is hit, armour fails to prevent damage, health fails to stop destruction, unit is removed.
Unit is hit, armour fails to prevent damage, health prevents unit being destroyed.
Remove the unit from the formation and add a new unit with (damaged) in the name. This damaged unit is the same as the original but with reduced armour and/or health (say reduced by 20%). You could generate the damaged unit design automatically when the unit is researched and hide it from the list that the player can see.
You would probably want to account for multiple damage status so that multiple damage effects don't result in the name getting out of hand. You can add a flag to the vehicle design which records how many levels of damage it represents and pulls an appropriate string from the database so it could go from damaged, heavily damaged, very heavily damaged, extremely heavily damaged, catastrophically damaged.
I think it would be conceptually better to have it only apply to vehicles rather than infantry, although this might affect balance quite a lot. Also it might be nice to have heavier vehicles able to reach higher levels of damage but that might be unbalanced.
If you wanted to add more variety you could add different types of damaged unit, such as armour damaged, health damaged, weapon damaged, evasion damaged, (weapon AP, weapon damage, firing rate, hit chance are all stats which could be affected separately).
However then you might need to account for different types of damage stacking which might cause issues. Tracking whether or not a unit type already has a specific damage could be done with flags and you could re-roll if the same type of damage gets chosen.
You'd probably want to add a mechanism for repairing ground units after doing any of this.