A new five level inverter circuit is designed to address the issues of a large number of components and modulation difficulty in MLIs. This circuit uses a single DC source, eight switching transistors, two capacitors, two diodes and one inductor, reducing the number of components and simplifying the modulation complexity of the system. Compared with existing multilevel inverters(MLIs) circuits, this circuit has the ability to autonomously boost voltage, eliminate leakage current, self balance capacitor voltage, and suppress capacitor peak current. This circuit adopts the SVPWM modulation strategy, which reduces the harmonic content of the output voltage compared to the SPWM modulation strategy. Firstly, the circuit structure and working principle are introduced in the article, and the expression for device selection is established. Then, the SPWM and SVPWM modulation strategies are analyzed. Finally, a simulation model of the circuit and an experimental platform are built for verification, and the results prove the feasibility of the inverter circuit and modulation strategy.