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In order to improve the control performance and robustness of the surface‐mounted permanent magnet synchronous motor drive system, the direct speed control is proposed based on the ultra‐local model, which is established based on the input and output of the system, and the dynamics and disturbances are estimated by the differential algebra comprehensively. A dynamic variable with adaptive coefficients is defined first, which includes the speed error and armature q‐axis current explicitly. The ultra‐local model about it is established consequently. Then, a single controller is designed to control speed and current simultaneously under the cascade‐free structure. To guarantee the stability of system and obtain the range of adaptive coefficients, the Lyapunov function is designed with speed and current errors. Moreover, the adaptive coefficients are online tuned by adaptive laws to suit operating conditions. At the same time, the current and voltage constraints are also handled to prevent overcurrent and make full use of the power supply. With the proposed method, excellent transient and steady‐state performance can be achieved in the context of safe operation. The effectiveness of the proposed method is validated by the experiments, and comparisons with the double closed‐loop proportional integral (PI) control verify its technical advantages. © 2022 Institute of Electrical Engineers of Japan. Published by Wiley Periodicals LLC. [ABSTRACT FROM AUTHOR]