The multilevel converter (MLC) based charging stations for Electric Vehicles (EVs) are becoming popular due to the availability of redundancy and better controllability. The parallel hybrid converter (PHC) requires lesser switching devices and capacitors and has a smaller footprint than its counter topologies like modular multilevel converter (MMC). Furthermore, the absence of a dc link in the PHC allows it to operate over a wide voltage range (modulation index), hence providing control over the reactive power. The sub-module (SM) capacitors present in PHC can be used as a local dc bus for charging an EV through a dual active bridge (DAB) next stage of converter operation. Considering the above-mentioned advantages, this article proposes a novel MLC which can simultaneously work as an EV charging station and STATCOM (PHC DAB). The detailed working principle of the PHC DAB converter, including mathematical analysis, is presented in this article. The working principle of the proposed converter is verified using simulation and experimental results.