In order to make full use of the advantages of existing vehicle electric drive systems and avoid their shortcomings, a two-motor drive system with the function of change modes between single motor drive, two motors joint drive and independent wheel drive was designed. The torque transmission characteristics analyses and application simulation of this drive system have been done. Under the control of vehicle controller, when both of the motors are normal operation, this drive system can ensure the stability of vehicle in every mode; even if one of the motors is faulted in the mode of independent wheel drive, only little torque can be reverse transferred from the wheel driving by the working motor to the wheel driving by the faulted motor, which doesn't make significant impact on the stability of electric vehicle, and the deviation can be avoided by change drive mode from independent wheel drive to single motor drive. So, the design of this drive system is necessary and feasible.