Squirrel cage induction motor is the most widely adopted electrical machine in applications directly fed by the main grid. The analysis, design, and optimization of this machine topology has been addressed by a considerable amount of literature over the last century. Although its wide adoption, the induction motor design, especially when carried out in an automatic fashion, still presents significant challenges because the accurate prediction of the performance requires time-consuming finite element analysis. This work proposes a systematic approach to perform the design optimization of a squirrel cage induction motor focusing on the rotor slot geometry, being this the major player in defining the torque-speed characteristic. Structured as a two-parts companion papers, this first part presents an innovative performance evaluation methodology which allows a very fast estimation of the torque, and efficiency behaviour preserving the results’ accuracy. The proposed performance estimation technique is assessed against experimental tests carried out on an off-the-shelf induction motor. The selection of the performance indexes to be optimized is justified in detail along with the description of a generalized rotor parametrization which allows a comprehensive exploration of the research space. The presented optimization procedure is then applied to a case study, and the preliminary results are commented, highlighting benefits, and drawbacks of the proposed methodology.