In-wheel motors for electric vehicles (EVs) have a high outer diameter (D) to axial length (L) ratio. In such applications, axial flux machines are preferred over radial flux machines due to high power density. Moreover, permanent magnet (PM)-less machines are gaining interest due to increase in cost of rare-earth PM materials. In view of this, axial flux switched reluctance motor (AFSRM) is considered as a possible option for EV propulsion. Two topologies namely, toothed and segmented rotor AFSRM are designed and compared for the same overall volume. These topologies have a three-phase, 12/16 pole single-stator, dual outer-rotor configuration along with non-overlapping winding arrangement. Analytical expressions for phase inductance and average torque are derived. To verify the performance of both the topologies a finite element method (FEM) based simulation study is carried out and its results are verified with the analytical values. It is observed from simulation that the average torque is 16.2% higher and torque ripple is 17.9% lower for segmented rotor AFSRM as compared to toothed rotor AFSRM.