I. Introduction
Rare-earth magnets are commonly employed as magnetic potential source owing to their high energy density in permanent magnet (PM) machines, making them have high power density and efficiency [1]–[5]. However, due to its shortage and unstable supply around the world, the cost is one of the main drawbacks. Various approaches are proposed to reduce the cost, viz., eliminating rare-earth magnets, replacing the rare-earth magnets with ferrite magnets, or improving the PM utilization.