Due to the increasing energy crisis and environmental pollution, the development of drive motors for new energy vehicles (NEVs) has become the focus of popular attention. To improve the sine of the air-gap flux density and flux regulation capacity of drive motors, a new hybrid excitation synchronous motor (HESM) has been proposed. The HESM adopts a salient pole rotor with built-in dual-V permanent magnets (PMs), non-arc pole shoes and excitation windings. The fundamental topology, operating principle and analytical model for a magnetic field are presented. In the analytical model, the rotor magnetomotive force (MMF) is derived based on the minimum reluctance principle, and the permeance function considering a non-uniform air-gap is calculated using the magnetic equivalent circuit (MEC) method. Besides, the electromagnetic performance including the air-gap magnetic field and flux regulation capacity is analyzed by the finite element method (FEM). The simulation results of the air-gap magnetic field are consistent with the analytical results. The experiment and simulation results of the performance show that the flux waveform is sinusoidal-shaped and the air-gap flux can be adjusted effectively by changing the excitation current. This study provides design methods and theoretical analysis references for this type of HESM.