An electric motor control system includes a power inverter and control circuitry configured to control the power inverter either according to a target voltage in a voltage-based control mode or according to a target current in a current-based control mode. A controller is operable to switch operation of the control circuitry between the voltage-based control mode and the current-based control mode. The controller may be configured to operate the control circuitry in the current-based control mode at lower motor operating speeds where stator current margin is of greater significance, and to operate the control circuitry in the voltage-based control mode at higher motor operating speeds where stator voltage margin is of greater significance.