A 3-D finite-element (FE) optimized equivalent source numerical model for the analysis of low frequency electromagnetic field signatures in electric drives is proposed. An example electric drive system including a synchronous generator, an induction motor and power cables connecting a load is used to implement the model. The arrangement of the system setup is developed using a fully detailed 3DFE model to verify and compare with the results of the proposed equivalent source model.The proposed technique provides the exact field solution without large computational even with the presence of superposition. The equivalent source model (wire model) is created based on numerical techniques and physical theory of wave propagation. The superposition of the various components in this study is considered. The results of the proposed wire models match the results of the original models. For further verification, experimental results of the setup are compared with the numerical results. The importance of the proposed equivalent source is that it can be used for the evaluation of electromagnetic signatures and radiation patterns at the design stage. This enables performing various designs iterations to achieve compliant designs to electromagnetic compatibility standards. The proposed model can also be used for dynamic monitoring and diagnosing failures in the system.