The rare-earth (RE) permanent magnets (PM) have been increasingly adopted in traction motor application. However, the RE PM is expensive, less abundant, and has cost uncertainties due to limited market suppliers. This paper presents a new design of a RE-free five-phase ferrite permanent magnet-assisted synchronous reluctance motor (Fe-PMaSynRM) with the external rotor architecture with a high saliency ratio. In such architecture, the low magnetic coercivity and demagnetization risk of the ferrite PM is the challenge. This limits the number of flux barriers, saliency ratio, and reluctance torque. A precise analytical design procedure of rotor and stator configuration is presented with differential evolution numerical optimizations by utilizing a lumped parameter model. A 3.7 kW prototype is fabricated to validate the proposed idea.