Link: https://interestingengineering.com/innovation/uk-firm-efficient-hybrid-transmission-motor

The key innovation in this motor lies in the use of amorphous steel, a material that differs from conventional electrical steels commonly used in motor cores. Unlike traditional steel, which has a crystalline atomic structure, amorphous steel has a disordered atomic arrangement.

This unique structure gives it superior magnetic characteristics, including higher magnetic permeability and much lower core losses. In electric motors, magnetic losses such as eddy current losses and hysteresis losses occur when the magnetic field in the stator repeatedly changes during operation.

To be clear, this doesn't make a hybrid 98% efficient.

The problem with hybrid cars isn't really the 2% loss in the electric part. It's not even the complexity of combining two motors and a generator in a single drive train. It's not even the staggeringly shitty 40-50% efficiency, it's the whole guzzling dinosaur juice thing.

a 1% reduction in fuel and power consumption

Slow clap

If these motors are also light, then they could be interesting for motorcycles or other light vehicles. Less losses means less cooling is necessary which may mean no external cooling system has to be fitted lowering complexity and weight.