Selective laser melting (SLM) as a processing method has moved from mere a rapid prototyping tool to a manufacturing scale technology, capable of producing complex three-dimensional objects. This is particularly advantageous for building the rotors of a synchronous reluctance motors (SynRM), consisting of complex cooling channels and slits for eddy current reduction. Such structures offer efficiency both from a production and performance point of view, which is key to a greener economy. We explore the potential of this approach with the combination of the well-established soft ferromagnetic Fe-3Si and Fe-6.5Si alloys for rotor material, supported by shaft material consisting out of case hardening steel, 18CrNiMo. The multi-material combination is realized by SLM of 18CrNiMo upon Fe-Si alloys built by the same process, thus creating a functionally graded material (FGM) combination. The SLM built alloys are initially investigated both individually and in combination for their processibility. Further, the heat-treatment schedules resulting in the enhanced functional properties of the multi-material combination were arrived at by a systematic study. Towards this end, the mechanical properties under static and dynamic loading conditions were probed and correlated with the resulting microstructures.