Widespread applications of AC motors fed by variable frequency drives in electrified vehicles have become a conventional technical solution. The flexibility of control, low cost, and high energy efficiency attract developers and engineers to apply these appliances in cars, railway trains, trams, etc. The distinctive characteristic of vehicles is a wide range of required rotation speed and torque. This circumstance means that the problems of the AC motor (nominal power, synchronous speed) and gearbox (transmission ratio) become non-trivial and necessitate optimal selection to ensure the best functionality of the entire driving system. This study proposes an approach for the optimal choice of a specific AC motor (nominal rating, synchronous speed) and the transmission ratio of the gearbox by analyzing the entire system’s losses. The optimal selection of an AC motor ensures maximum energy efficiency for a specific transportation driving cycle.