An efficient thermal management system (100) that utilizes a single heat exchanger (133) is provided. A refrigeration subsystem (103) cools the heat exchanger (133). A first coolant loop (139) in thermal communication with the heat exchanger (133) is used to cool the energy storage system (137). A second coolant loop (151) corresponding to the HVAC subsystem (107) is also in thermal communication with the heat exchanger (133). Preferably a third coolant loop (109) corresponding to the drive motor cooling subsystem (101) is coupleable to the HVAC coolant loop (151), thus providing an efficient means of providing heat to the HVAC subsystem (107).