The shift to electric vehicles requires powertrains that are both efficient and economical. Maximizing energy efficiency is essential for increasing driving range while minimizing costs. Recent publications of both industry and academia emphasize the importance of these design goals. This digest and the upcoming full paper introduces a novel quasi-5-level (Q5L) 3-phase inverter that targets low losses and costs compared with conventional converters concepts. Several Q5L control strategies are developed and evaluated, with regards to efficiency and voltage ripple impact. The optimal strategy is compared to 3-phase 2-level, actual 5-level, and 3-level inverter topologies regarding overall drivetrain efficiency and chip area as an inverter cost indicator.