Interior permanent magnet (IPM) machines with spoke-type design are very attractive for several applications, including vehicle traction, which requires a good flux weakening performance to achieve high speed. For this purpose, a high demagnetizing current is usually injected to reduce the machine flux at high speed, with detrimental effect in terms of efficiency. This problem can be mitigated by equipping the rotor with a mechanical flux weakening device, which activates during high-speed operation by centrifugal force. This paper addresses the analytical modeling of this special kind of IPM motor through a simplified magnetic equivalent circuit (MEC) approach, which incorporates saturation and slotting effects as well as the flux weakening device operation. It is shown how the MEC model can effectively describe the IPM machine behavior despite its simplicity. Results are successfully validated by comparison both with finite element analysis, which requires much more computational resources, and with measurements from laboratory prototype testing.