Based on the characteristics of axial flux switched reluctance motor (SRM) and radial flux SRM, this paper proposes a new type of axial radial flux segmental rotor switched reluctance motor (ARFSRSRM). The motor has the left and right dual axial stator structures, which forms a kind of axial flux path with the segmental rotor in the middle, and a radial stator structure, which shares a kind of radial flux path with the segmental rotor on the outside of the motor. Compared with the conventional SRM, this motor combines the advantages of high output torque and torque density due to the inclusion of two kinds of flux paths, making it suitable for high-efficiency and high-torque fields such as electric vehicles. In this paper, the topology and operating principle of the new motor are first introduced. Then the initial structural parameters are derived, and the multi-objective optimization of the proposed motor is carried out using Taguchi’s algorithm. The static and dynamic performance of the motor is comprehensively analyzed using the 3-D finite element method. Finally, the experimental results obtained through the trial production of a prototype machine verify the good performance of the new motor.