The requirements of high efficiency, power density, and low price for the motor of electric vehicles (EVs) make the design of the driving motor become a process of multi-objective optimisation. For purpose of the permanent magnet synchronous motor (PMSM) used for EVs has the higher efficiency, wider range of speed regulation with flux-weakening and better cost superiority, a multi-objective optimisation design approach based on finite element analysis (FEA) and modified particle swarm optimisation (MPSO) algorithm which takes efficiency, flux-weakening rate, and price as optimisation objectives is proposed in this study. Five PMSMs with different rotor topologies (V-shape, U-shape, double V-shape, delta-shape, and double tangential-shape) are optimised by the proposed optimisation method and their performance characteristics, including flux-weakening ability, efficiency, price, and anti-demagnetisation ability, are compared. The results suggest that double V-shape rotor topology has the wider constant power range and double-layer PMs topology has stronger anti-demagnetisation ability and wider high efficiency interval, whereas single-layer topology has lower cost price. Furthermore, a PMSM prototype with V-shape PMs is manufactured, so that the feasibility of multi-objective optimisation design approach and accuracy of FEA are verified by prototype experiments.