This paper deals with the potentials of a Hybrid-Excitation Permanent-Magnet (HEPM) machine. The HEPM machine is characterized by a rotor including both permanent magnets (PMs) and excitation coils. The PMs produce a constant flux at the air gap of the machine, while an excitation current is supplied so as to regulate such a flux. A flux increase could be necessary during transient overload operations, while a flux decrease is useful during Flux-Weakening (FW) actions to operate at speeds higher than the nominal speed. Torque, power, efficiency, flux density and losses of an interior permanent magnet (IPM) motor and an HEPM motor are analyzed in detail. It is shown that this excitation winding produces a great advantage in terms of torque and power performance during the operations at speeds higher than the nominal speed. Despite the additional rotor losses, it is shown that there is a higher efficiency.