In this study, an innovative knitting technology, based on a patent application, is investigated. Three yarn carriers are needed: one carrier (SY3) knits at the same time on both, cylinder and dial needles, forming a 1 × 1 rib structure. Another carrier (CY1) feeds yarn only to the cylinder needles, creating a front-side single jersey, while a third carrier (DY2) feeds yarn only into the dial needles to form a back-side single jersey. This method creates a new plated fabric, where each needle carries two yarns. To examine the plating effects, prototype yarn carriers were designed, and fabrics were produced with various machine settings. Key variables, including knocking over timing between dial and cylinder, yarn tension, and cam depth, were adjusted to study their influence on the fabric’s plating. The results confirmed that it is possible to create a fabric with different characteristics on each side. The properties of these novel fabrics were then compared with those of a 1 × 1 rib and of a Milano rib fabrics to explore potential applications. The new fabrics show significantly less multiaxial stretchability and a more balanced modulus compared to 1 × 1 rib knits. When compared to Milano rib fabrics, the new fabrics exhibit a higher cover factor and increased modulus. These findings indicate that the new fabric type is well-suited for applications that require low deformation—especially in course direction—or a balanced, high modulus. To evaluate their potential for smart textiles, the electrical properties of these fabrics were tested. A prototype fabric was created with a conductive material on one side and a non-conductive material on the other. This innovative fabric showed high conductivity on the conductive side and low conductivity when measured from the conductive to the non-conductive side. Compared to conductive 1 × 1 rib fabrics, the new fabrics have lower conductivity in both relaxed and stretched states, along with high robustness to deformation. Overall, the new fabrics deliver better conductivity with reduced yarn consumption and incorporate a non-conductive layer in a single production step, making them a material-efficient and cost-effective alternative to conventional conductive 1 × 1 rib fabrics.