A new type of induction motor with compound cage rotor (IMCCR), its bars composed of cast-aluminum and alloy is proposed. The kinetic equations and state equations of the motor are established, and the starting process of the induction motor is simulated and analyzed. Meanwhile the method employed to solve the two dimensional (2D) sinusoidal time-varying field is given. Taking the stator terminal voltage and the power equation as the constraint conditions, by iterating the stator currents and rotor slip respectively, the performances of the motor can be obtained. The starting process of the motor is simulated by state equations, and the operating performance is obtained by using finite element method. The performances are calculated for different rotor slot shapes and different alloys respectively. The better performances of the IMCCR are verified by comparing the induction motor with compound cage bar with ordinary induction motors.