As a device that realizes the “static-to-motion” transformation which influences the national economy and people’s livelihood, the electric machine (EM) has put forward higher requirements for the torque/power density with the development of industry. It is difficult to meet the new requirements by using traditional silicon steel. Therefore, the application of “new” materials has become a breakthrough point. This article studied the properties and the application of Fe-Co-V alloys (1J22) which has a high saturation magnetic polarization, then analyzed its performance in high torque density EMs. Since the stator field is a rotating magnetic field which changes with time, the variable-angle magnetic performance test was carried out on 1J22 to discuss the influence of the magnetic performance under different shear angles on the stator magnetic flux. The EM’s design and prototype production were carried out for the unique properties of the 1J22 material itself. Compared with the EM model using traditional non-grain-oriented (NGO) silicon steel 35ADG1900, the use of 1J22 material can solve the temperature rise problem under special working conditions. At the same time, the feasibility of 1J22 in high torque density traction motor has been verified.