This article presents a novel system for magnetic levitation (Maglev) transportation which achieves both electromagnetic levitation and propulsion using a series of asymmetric double sided linear induction motors (ADSLIMs) with a simple conductive plate secondary. A combination of two methods is proposed to simultaneously control the propulsion and levitation forces of the ADSLIMs with high efficiency for any operating condition. Upper and lower current balancing, the first method, consists of applying different currents to the upper and lower primary windings of the ADSLIM to produce the required propulsion and levitation forces. The second method, called the regenerative levitation method, consists of controlling one or several ADSLIMs in the series to operate in generating mode while other ADSLIMs operate in motoring mode. The new Maglev system concept is validated and studied using finite element (FE) simulations.