Accurate electric vehicle (EV) powertrain modeling, simulation and validation is paramount for critical design and control decisions in high performance vehicle designs. Described in this paper is a methodology for the design and development of EV powertrain through modeling, simulation and validation on a real-world vehicle system with detailed analysis of the results. Although simulation of EV powertrains in software simulation environments plays a significant role in the design and development of EVs, validating these models on the real-world vehicle systems plays an equally important role in improving the overall vehicle reliability, safety and performance. This modeling approach leverages the use of MATLAB/Simulink software for the modeling and simulation of an EV powertrain, augmented by simultaneously validating the modeling results on a real-world vehicle which is performance tested on a chassis dynamometer. The combination of these modeling techniques and real-world validation demonstrates a methodology for a cost effective means of rapidly developing and validating high performance EV powertrains, filling the literature gaps in how these modeling methodologies can be carried out in a research framework.