A permanent magnet electric machine comprising: a rotor including a plurality of permanent magnets; a stator in magnetic communication with the rotor and positioned defining a radial air gap between the rotor and the stator; a housing configured to seal the rotor and the stator from an outside environment; an ancillary component requiring cooling connected to the electric machine; and a cooling system for the ancillary component of the electric machine connected to cool the ancillary component with an airflow, wherein said cooling system comprises: a pumping element configured to urge the airflow across the plurality of permanent magnets of the rotor of the electric machine to remove thermal energy therefrom; a plurality of cooling channels disposed in the housing of the electric machine configured to transfer thermal energy from the stator of the electric machine to a flow of fluid coolant through the plurality of cooling channels; a heat exchanger in thermal communication with the plurality of cooling channels to transfer thermal energy from the airflow to the fluid coolant; and one or more coolant supply conduits configured to divert a portion of the airflow from the heat exchanger to the ancillary component of the electric machine to allow for transfer of thermal energy from the ancillary component to the airflow; wherein the ancillary component is operably connected to the electric machine via one or more power leads; wherein the one or more power leads are disposed in a power lead housing configured to carry airflow therethrough, thus cooling the one or more power leads. a rotor including a plurality of permanent magnets; a stator in magnetic communication with the rotor and positioned defining a radial air gap between the rotor and the stator; a housing configured to seal the rotor and the stator from an outside environment; an ancillary component requiring cooling connected to the electric machine; and a cooling system for the ancillary component of the electric machine connected to cool the ancillary component with an airflow, wherein said cooling system comprises: a pumping element configured to urge the airflow across the plurality of permanent magnets of the rotor of the electric machine to remove thermal energy therefrom; a plurality of cooling channels disposed in the housing of the electric machine configured to transfer thermal energy from the stator of the electric machine to a flow of fluid coolant through the plurality of cooling channels; a heat exchanger in thermal communication with the plurality of cooling channels to transfer thermal energy from the airflow to the fluid coolant; and one or more coolant supply conduits configured to divert a portion of the airflow from the heat exchanger to the ancillary component of the electric machine to allow for transfer of thermal energy from the ancillary component to the airflow; a pumping element configured to urge the airflow across the plurality of permanent magnets of the rotor of the electric machine to remove thermal energy therefrom; a plurality of cooling channels disposed in the housing of the electric machine configured to transfer thermal energy from the stator of the electric machine to a flow of fluid coolant through the plurality of cooling channels; a heat exchanger in thermal communication with the plurality of cooling channels to transfer thermal energy from the airflow to the fluid coolant; and one or more coolant supply conduits configured to divert a portion of the airflow from the heat exchanger to the ancillary component of the electric machine to allow for transfer of thermal energy from the ancillary component to the airflow; wherein the ancillary component is operably connected to the electric machine via one or more power leads; wherein the one or more power leads are disposed in a power lead housing configured to carry airflow therethrough, thus cooling the one or more power leads.