An electric motor that can be used in driving a compressor and that incorporates a magnetic gear. The motor has high and low speed stators mounted within a motor casing side-by-side that drive coaxial low and high speed rotors also mounted within the motor casing for rotation and within the high and low speed stators. The high and low speed stators produce rotating magnetic fields that rotate in opposite directions to drive the rotors under application of a multiphase alternating current. The low speed rotor has a set of ferrous pieces, rotating with the low speed rotor and mounted thereon between the high speed rotor and the high speed stator. The ferrous pieces produce a magnetic gearing effect to drive the high speed rotor at a higher speed than the low speed rotor and in an opposite direction to the low speed rotor.