Abstract: A permanent magnet rotor for an electronically commutated motor (ECM) has a core, a plurality of magnetizable elements spaced around the core, and a thin-walled retaining shell which has been stretched around the core and magnetizable elements to hold the elements in position. The rotor is amde by an inventive method which involves axially aligning the core and surrounding magnetizable elements with the retaining shell, and cold-pressing the retaining shell over the core and elements to sandwich the elements between the shell and core. The core and magnetizable elements serve as a mandrel about which the shell is reformed in a cold working operation. Other aspects of the invention include the fixturing apparatus used to align the core and magnetizable elements with the retaining shell, and apparatus which is used to evenly space the magnetizable elements around the core and hold the elements in position during at least a portion of the cold-pressing operation.