An axial flux switched reluctance motor utilizes one or more rotor discs spaced along a rotor shaft, each rotor disc having a plurality of rotor poles spaced along the periphery thereof. Stator elements are distributed circumferentially about the rotor discs and form pairs of radially extending stator poles for axially straddling the rotor discs. Stator coils as switched on to energize pairs of stator poles for forming an axial and radially inward flux path for rotating the rotor poles for minimizing the flux path before switching off the stator coil. Two or more rotor discs can be rotationally indexed for providing two or more motor phases. In manufacture, rotor discs and circumferentially extending stator coils about the periphery of each rotor disc are fit to a stator housing. Each stator element is then fit radially through the stator housing and secured thereto for straddling the rotor discs.