As the use of inductor-based topologies demands a large amount of space, capacitor-based topologies have garnered attention. Electric Vehicles (EVs) are usually equipped with two-level inverters, which require separate control strategies for each level and synchronizing the strategies increases the complexity of operation and makes them unreliable. Therefore, a single-stage converter with boost and conversion abilities with better power quality at optimal component count and efficiency is needed. A novel capacitor-based boost multilevel inverter (CB-MLI) topology is proposed in this paper as it is found suitable for EV and HEV applications. It is capable of generating an eleven-level waveform with only eleven switches, three capacitors, and a single isolated source. The self-balancing property of the capacitors makes the topology one of a kind. A constant carrier PWM-based control strategy is utilized to switch the IGBTs. Testing results from hardware setup confirm the proposed capacitor-based CB-MLI topology operating modes and potentiality. Lastly, by highlighting the proposed and existing MLI circuits, the benefits of the recommended configuration are outlined by component count and total cost. Additionally, it is a simplified design that needs fewer footprint areas and space.