Electric vehicles (EVs) have garnered significant research attention, both domestically and internationally, due to their environmental friendliness and energy efficiency. However, challenges such as limited range, inferior performance, high energy consumption, and low efficiency currently hinder the widespread adoption of single-motor pure EVs. To overcome these obstacles, this paper introduces a novel dual-motor coupling system with three driving modes. The system combines the power of two motors through a composite planetary gear mechanism, which subsequently transmits the power. Initially, a dynamic model of the novel dual-motor system was constructed, and the parameters of key components were optimized using the Grey Wolf Optimizer algorithm to achieve an optimal power distribution between the gear transmission ratio and the motor's driving power. Subsequently, a mode switching strategy for the novel dual-motor system was developed based on the principle of instantaneous power optimization. Finally, to demonstrate the economic advantages of the novel dual-motor coupling system, this paper selected the Ford Mustang Mach-E GT as a reference model and conducted simulations under the New European Driving Cycle (NEDC) typical driving cycle conditions. Compared with the average efficiency of the vehicle throughout its driving cycle, the total power of the electric motor in the novel dual-motor coupling system was reduced by 6.2%, and the average efficiency of the dual-motor powertrain increased by 3.8%. This result indicates that the novel dual-motor system proposed in this paper not only meets the requirements for dynamic performance but also offers superior economic benefits, suggesting a promising future for mass production applications.