The location of the electric motor (EM) inside the transmission in an electric vehicle requires the compatibility of the automatic transmission fluids (ATFs) with the materials of the EM and the transmission. This work studies the compatibility of four conventional ATFs with three elastomers: fluoroelastomer (FKM), ethylene-propylene-diene monomer (EPDM), and vinyl-methyl silicone rubber (silicone). Changes in volume, hardness, tensile strength, and elongation at break of the elastomers after aging in the ATFs were measured, and additional Fourier transform infrared spectroscopy (FTIR), X-ray diffraction (XRD), and thermogravimetric and derivative thermogravimetric (TGA and DTGA) tests were performed. The four ATFs showed high or medium compatibility with FKM and silicone, and low compatibility with EPDM. This low compatibility was related to changes in the composition and crystalline structure of the elastomer. The non-compatibility of the EPDM with the oils from Group III was also proven.