Multilevel inverters play a pivotal role in modern power electronics, offering enhanced performance in terms of efficiency and voltage quality. This paper presents a novel 35-level asymmetrical multilevel inverter utilizing 12 switches and 6 DC sources (where two Vdc, two 3 Vdc, and two 5 Vdc are used). In renewable energy-based systems such as photo voltaic cells, or hybrid electric vehicles, several modules are connected to attain increased voltage levels. The proposed topology can be used in such applications where multiple DC sources are used. By cascading the same configuration of the proposed topology, a higher number of voltage levels can be achieved with good quality output voltage with lower THD. Simulations demonstrate its effectiveness along with voltage stress analysis of the topology. Comparative analysis is done with existing 35-level topologies concerning device count, source diversity factor, switch diversity factor, and many sources required. The circuit efficiency, switching losses, and conduction losses are found to be nominal for their use in hybrid electric vehicles.