An electric water pump (14) with an improved magnet shape that allows a volume flow rate on demand for applications like cabin heating, low pressure, battery and inverter cooling due to reduction in weight of the magnet comprising of a hollow cover, a printed circuit board assembly (8), a housing sub-assembly (2), a stator assembly (11), a rotor assembly (6) with magnet (7, 15) and a volute casing (1), wherein the printed circuit board assembly (8) is attached in the hollow cover with the help of a self-tapping screw and the magnet (7, 15) has plurality of grooves optionally combined with alternate protrusions that helps in maximizing the magnetic strength along with a comparatively greater ratio of thickness of magnet (7, 15) at magnet pole to thickness of magnet at the center of two consecutive poles.