A new cascaded multilevel inverter (MLI) is presented. This MLI aims to use a lesser number of switches, achieve better modularity, and reduce voltage stress. The new structure can operate in symmetric and asymmetric modes, producing all odd and even voltage levels. It comprises semi-half-bridge cells connected in series with crisscross switches to generate target voltage levels for synthesizing the sinusoidal output waveform. An extended version of the proposed MLI topology cascades sub-inverters to generate more voltage levels with reduced standing voltage. Compared to the cascading H-bridge topology, the proposed MLI and its extended version use fewer semiconductor switches. The MATLAB R2013b-based simulation results, confirm the efficacy of the proposed MLI topology.