In this paper, a field oriented control of Permanent Magnet Synchronous motor fed from a 3-level Neutral point clamped (NPC) inverter is investigated. With the Space vector modulation (SVM) control, the dc-link capacitors are operated in balanced condition and a true 3-level operation is obtained. The advantages of SVM along with 3-level inverter structure is that, it enhance the performance of PMSM drive with low torque ripple, high efficiency and low harmonic disturbance which makes it suitable for Electric Vehicle (EV) and Hybrid Electric Vehicle (HEV) applications among others. The system is co-simulated between Matlab/Simulink® and PSIM.