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In recent years, the world has paid more and more attention to the waste of resources and energy consumption. Enterprises in various countries hope to promote sustainable development through the recycling of products and at the same time improve their competitiveness in the global market environment. From the perspective of green and circular economy, the motor manufacturing industry can reduce cost and satisfy the requirements of green production by recycling and dismantling the discarded but valuable materials, and remanufacturing motors with ineffective designs. Based on the large-scale asynchronous motor, this article gives the scheme and process of remanufacturing to a permanent magnet synchronous motor, including the disassembly, life evaluation, design and remanufacturing of the motor. The permanent magnet rotor was used to replace the squirrel-cage rotor of the asynchronous motor, and the magneto-thermal coupling analysis of the new motor is carried out by finite element method. The simulation and the experimental results were compared to verify the feasibility of recycling and remanufacturing of the asynchronous motor. A simple economic comparison was made with scrapped and manufactured new motors to verify the practical significance of the transformation technology, which simplifies the recycling process, reduces recycling costs, and increases the utilization rate of used motors. The analysis results provide the guide and show the important significance for the motor remanufacturing industry for the circular economy. [ABSTRACT FROM AUTHOR]