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The flux-switching permanent-magnet (FSPM) machine has robust rotor structure, high reliability, high efficiency, and high torque density. The hybrid excitation topology can realize flux adjustment and good constant power operating capability of the FSPM machines. According to different combination modes of PMs, excitation winding, and iron flux bridge, this paper compares and analyzes the electromagnetic performance of different hybrid excitation flux-switching machines with particular emphasis on coupling of PM flux and electrical excitation flux, utilization ratio of excitation current, flux adjustment capability, and torque capability. The analysis conclusions are verified by finite element method and experimental results based on an investigated parallel hybrid excitation flux-switching machine.