The invention discloses a motor generator for an HEV (Hybrid Electric Vehicle), and the generator comprises a housing, a permanent magnet, a non-magnetic-conducting rotor core, olive-shaped cores, a stator core, an armature winding, an exciting winding, an insulating separator plate and a shaft. The stator core is divided into 4X sub-cores which are mutually intersected, wherein 4X sub-cores are uniformly arranged in the peripheral direction. The olive-shaped cores are located at an inner side of the stator core and are fixed on the shaft. The non-magnetic-conducting rotor core has 5X curved grooves, wherein the curved grooves are provided with magnetically conductive olive-shaped cores in an embedded manner. The center part of each olive-shaped core is provided with a counterbore for placing a fixing screw, and the fixing screws enable the olive-shaped cores to be fixed on the non-magnetic-conducting rotor core. The exciting winding and the armature winding are isolated from each other without mutual interference, and the reliability is high. The rotor can rotate at a high speed. The outer circumference of the rotor has no protrusion, which reduces the wind resistance during high-speed operation and the harmonic response and noise caused by wind resistance.