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This paper presents a new magnetic circuit model of an interior permanent magnet (IPM) motor for use in SPICE, which is the general-purpose circuit-simulation program. The magnetic circuit model consists of reluctances and permanent magnet magnetomotive-force sources. In the SPICE simulation, a magnetic circuit model of the IPM motor and its driving circuit are coupled by a proper circuit. Using the proposed model, we can calculate dynamic characteristics of the IPM motor easily.