A study on the performance of controllers is carried out for a PMSM Drive system used in Electric Vehicles. In recent times, PMSMs are considered as the most suitable AC machines for control applications because of their features like maximum torque or inertia ratio, top speed, peak efficiency, improved dynamic performance, smaller size, easy maintenance etc. With mentioned advantages, PMSM's are widely used for applications in the domain of robotics, transportation, aerospace, etc. A large number of control strategies are present to control the PM Synchronous Motors. In this article, Field Oriented Control technique is employed to control the speed and torque of an Interior PMSM. A Mathematical Model of IPMSM in rotary orthogonal reference (d,q) frame is presented in this paper. Using this model, PI Controllers are designed to control the speed and current of IPMSM. This work is implemented through simulation in PSIM software environment.