In this paper a multi-physics model is proposed for a multi-V-shape Interior Permanent Magnet (IPM) motor with concentrated winding. This work develops a non-linear magnetic model that computes the flux density in the motor. The analytical model includes several novel aspects: it takes into account the local saturation near the iron bridges, it proposes a method for modeling the concentrated tooth winding, it calculates the slot tangential leakage flux and includes it in the flux linkage calculation. The magnetic model is coupled with an electrical model that computes the power factor and the voltage at the motor terminals. A loss model is developed in order to calculate the copper and the iron losses. They are used as inputs to a nodal thermal model that introduces a thermal circuit for concentrated end-winding and computes the temperature of the motor. A mechanical model is developed. It evaluates the mechanical constraints encountered by the structure. The models are verified using finite element computations and numerical calculations performed with dedicated software. Besides, the coupled analytical model is experimentally validated using a prototype motor. Finally, two multi-physics bi-objective optimizations are carried out in order to design the motor for high torque and low speed application.