A lubricant supported electric motor includes a stator presenting an outer raceway and a rotor extending along an axis and rotatably disposed within the stator. The rotor presents an inner raceway disposed in spaced relationship with the outer raceway to define a gap therebetween, and a lubricant is disposed in the gap for supporting the rotor within the stator. At least one of the outer raceway or the inner raceway is movable radially towards or away from the other to adjust the gap and optimize operation of the lubricant supported electric motor.