A stator assembly for an axial flux motor includes a heat exchanger jacket configured to circulate a heat transfer liquid. A stator also includes a plurality of stator cores each having a conductive winding, an electrically insulating material disposed over at least a portion of the conductive wire winding, and a molded soft magnetic composite (SMC) material. The heat exchanger jacket is disposed circumferentially around at least a portion of a perimeter of the stator. Each stator core defines a peripheral surface configured to contact the heat exchanger jacket and at least a portion of the peripheral surface is defined by the molded soft magnetic composite (SMC) material. Methods of making a molded soft magnetic composite (SMC) material stator core are also provided.