An axial flux motor includes: a ring-shaped stator, a ring-shaped rotor and a planetary gear set. The ring-shaped stator includes a stator core and segments arranged on the stator core, where each of the segments includes a laminated stack and windings wrapped around the laminated stack. The ring-shaped rotor defines an inner open area and including a body and permanent magnets arranged on the body adjacent to and spaced from the segments. The planetary gear set is disposed within the inner open area and configured to receive an input torque from the rotor and provide an output torque, which is greater than the input torque.