AbstractThe lightweight of modular multilevel converter (MMC) and the DC faults ride‐through ability are main challenges for MMC‐high voltage direct current (HVDC) transmission systems. By introducing the concept of time‐division multiplexing, an arm multiplexing MMC (AM‐MMC) topology with high utilization of submodules is presented to reduce the weight and volume of MMC. In order to block the DC side fault current, this paper proposes a novel submodule in AM‐MMC, instead of using full‐bridge submodules. The proposed recombined half‐bridge submodules of AM‐MMC (RHAM‐MMC) contains four half‐bridge submodules and an IGBT with reverse parallel diodes. The topology and operating principle of RHAM‐MMC are introduced in detail. The time‐division multiplexing of middle arms between upper and lower arms is achieved by introducing arm selection switches. Thus, a new type of arm switch and switching method is designed based on the switch state. The DC faults ride‐through strategy is carried out based on its DC fault characteristic analysis. In addition, the economy analysis is conducted on the switching loss and operating loss of RHAM‐MMC. Compared with the fault ride‐through capability of other sub‐modules (SMs), RHAM‐MMC performs better in terms of investment cost and device losses. The simulation results based on MATLAB/Simulink reveal that RHAM‐MMC can achieve the DC side fault ride‐through and show effectiveness of the DC fault ride‐through control strategy.