The invention refers to an electric machine (300) and a hand guided and/or hand held electric power tool (1), comprising an electric motor (15), a working element (9) and a gear arrangement functionally located between the motor (15) and the working element (9). The electric motor (15) has a stator (100) with electrical windings (102) and a rotor (104) with permanent magnets (106) mounted thereon. It is suggested that the gear arrangement is a magnetic gear arrangement (20) using magnetic fields to transmit the rotational movement and torque from the motor (15) to the working element (9), the magnetic gear arrangement (20) comprising three components (51, 52, 54) rotatable in respect to one another, with a first component (52) generating a first magnetic field with a first number (n_input) of magnetic pole pairs (56), a second component (54) generating a second magnetic field with a second number (n_output) of pole pairs (58), and a third component (51) having a third number (n_pp) of ferromagnetic pole pieces (50). The rotor (104) of the motor (15) extends in an axial direction beyond the stator (100) of the motor (15). The magnetic pole pairs (56) are provided on the extended part (108) of the rotor (104) in order to make the extended part (108) together with the magnetic pole pairs (56) form the first rotating component (52) of the magnetic gear arrangement (20).