This paper evaluates a novel 12/10-pole, three-phase, segmented-stator hybrid excitation SRM (HESRM) associated with permanent magnets located between stator poles for electric vehicles. Firstly, the basic machine topology and operating principle are presented. The static electromagnetic characteristics of the proposed HESRM, such as flux distribution, flux linkage, static torque, and so on, are analyzed by 2D finite-element analysis (FEA). Then, the dynamic performance at steady state operation is performed by using cosimulation of indirect field-circuit coupling. Finally, a 12/10 segmented HESRM prototype is tested for experimental verification and is compared with a conventional 12/10 SRM of the same size.