Magnetostrictive materials such as NiMnGa exhibit mutually coupled martensitic and ferro/paramagnetic phase transformations. Moreover, such materials are electrically conductive, which leads to other coupling through induced magnetic field and produced Joule heat. After presentation of these phenomena, the thermodynamically-consistent model in terms of small-strain and eddy-current approximations will be formulated. Existence of weak solutions to such a coupled system of momentum equilibrium, Landau-Lifshitz-Gilbert equation, heat equation, and parabolic Maxwell system will be proved by limit passage in a carefully designed semi-implicit regularized scheme.