Abstract: A permanent magnet machine includes a stator configured to generate a stator magnetic field when excited with alternating currents and extends along a longitudinal axis with an inner surface defining a cavity, a rotor disposed inside said cavity and configured to rotate about the longitudinal axis, and a plurality of permanent magnets for generating a magnetic field, which interacts with the stator magnetic field to produce a torque. At least one of the plurality of permanent magnets has a light rare earth material including neodymium and praseodymium, and less than about 5 weight percent of a heavy rare earth material, wherein the weight percentage of neodymium is larger than the weight percentage of praseodymium but smaller than three times of the weight percentage of praseodymium.