A drive is the electronic device that harnesses and handles the electrical energy sent to the motor. The drive feeds electrical power into the motor in different Electric Drive Motor amounts and at various frequencies, thereby indirectly controlling the motor’s rate and torque.

So the many economical choice will be a Three Phase Induction motor accompanied by a BLDC engine. I would suggest BLDC ( because of its huge market penetration in recent times,simple availability and easier electronics/control ) or PMSM (Long term magnet synchronous motors )