The Direct Yaw Moment Control (DYC) is a widely utilized technique for electric vehicles equipped with In-Wheel Motors (IWMs) to ensure yaw stability. However, most existing DYC studies calculate the additional control yaw moment solely based on the torque differences among the four IWMs, disregarding the nonlinear tire characteristics and wheel rotational movements. When road conditions are poor or torque changes are intense, the tire may slip, preventing it from generating the required longitudinal tire force for the desired direct yaw moment. To address this challenge, this study introduces a coordination control strategy for motion stability and tire slip in electric vehicles (EV) driven by IWMs. To enhance control performance, the nonlinear tire characteristics and wheel rotational movements are integrated into the modeling process when calculating tire forces. Additionally, a state and parameter coupling estimation algorithm is utilized to obtain feedback on tire parameters and vehicle motion states. Using these estimation results as a foundation, a coordination strategy is developed to achieve reference motion state tracking and tire slip ratio control. The Model Predictive Control (MPC) algorithm is employed to solve the control problem with constraints on both control inputs and outputs, and the estimation results are utilized to update the control model as well as provide states feedback. Simulations and experiments are conducted to validate the feasibility and effectiveness of the proposed control strategy. The results demonstrate that our proposed control strategy effectively improves vehicle stability by coordinating vehicle motion and tire slip control.