What is claimed is:1. An electric motor for propelling a wheel of a vehicle, the electric motor comprising:a rotor rotatable about a drive axis;a stator including a plurality of stator poles circumferentially spaced apart from one another about a central axis;the rotor and the stator disposed adjacent to and operably coupled to a wheel of a vehicle;a layer of lubricating fluid supporting the rotor relative to the stator;a controller configured to monitor a radial position of the rotor relative to the plurality of stator poles;a motor drive configured to provide an electrical current to each of a plurality stator windings for controlling the rotor to axially rotate about the drive axis; andthe controller configured to operate the motor drive to selectively and individually adjust the electrical current associated with each of the plurality of stator windings to effectuate radial movement of the rotor transverse to the central axis for controlling the radial position of the rotor relative to the stator.2. The electric motor of claim 1, wherein the controller is configured to selectively and individually adjust the electrical current associated with one or more of the plurality of stator windings as a function of a rotor angle to control the radial positon of the rotor relative to the stator.3. The electric motor of claim 1, wherein the controller is configured to selectively and individually adjust the electrical current associated with one or more of the plurality of stator windings as a function of a signal independent of a rotor angle to control the radial positon of the rotor relative to the stator.4. The electric motor of claim 1, wherein the controller is configured to effectuate radial movement of the rotor to a predetermined radial position relative to the stator.5. The electric motor of claim 1, wherein the plurality of stator poles are disposed around and radially outside of the rotor.6. The electric motor of claim 1, wherein the plurality of stator poles are disposed radially inwardly from the rotor with the rotor annularly surrounding the stator poles.7. The electric motor of claim 1, wherein the radial position of the rotor is measured directly by a position sensor independent of the plurality of stator windings.8. The electric motor of claim 1, wherein the radial position of the rotor is determined indirectly by measuring one or more electrical characteristics associated with at least one of the plurality of stator windings.9. The electric motor of claim 1, wherein the electric motor is a permanent magnet type motor, wherein the rotor includes one or more permanent magnets for interacting with a magnetic field produced by the plurality of stator windings to produce a driving torque.10. The electric motor of claim 1, wherein the electric motor is an induction type motor.11. The electric motor of claim 1, wherein the electric motor is a reluctance type motor.12. The electric motor of claim 1, wherein the electric motor is a three-phase motor configured to be supplied with a three-phase electrical power source; andwherein the plurality of stator windings include an integer number of stator windings associated with each of the phases of the three-phase electrical power source.13. The electric motor of claim 1, further including a rotor angle detector for determining an angle of rotation of the rotor relative to the plurality of stator windings.14. The electric motor of claim 4, wherein the predetermined radial position includes the rotor being centered relative to the stator, with the drive axis overlying the central axis.15. The electric motor of claim 1, further including a motor output shaft extending between the rotor and the wheel of the vehicle for establishing the operable coupling and providing torque to rotate the wheel of the vehicle.
