Electric vehicles are considered to be a greener and safer means of transport thanks to the distinguished advantages of electric motors. Studies on this object require experimental platforms for control validation purpose. Under the pressure of research, the development of these platforms must be reliable, safe, fast, and cost effective. To practically validate the control system, the controllers should be implemented in an on-board micro-controller platform; whereas, the vehicle model should be realized in a real-time emulator that behaves like the real vehicle. In this paper, we propose a signal hardware-in-the-loop simulation system for electric vehicles that are driven by four independent electric motors installed in wheels (in-wheel motor). The system is elaborately built on the basis of longitudinal, lateral, and yaw dynamics, as well as kinematic and position models, of which the characteristics are complete and comprehensive. The performance of the signal hardware-in-the-loop system is evaluated by various open-loop testing scenarios and by validation of a representative closed-loop optimal force distribution control. The proposed system can be applied for researches on active safety system of electric vehicles, including traction, braking control, force/torque distribution strategy, and electronic stability program.