Brake system has been widely used not only for traditional vehicle handling and stability, but also in active safety systems, such as adaptive cruise control systems, and in electric vehicles, such as regenerative braking systems. The requirements for a brake system should have faster responses, more accurate pressure control and higher fault tolerance, for intelligent or driverless cars. In case a vehicle has no driver intervention, the brake system should still have a certain capacity of brake control, even if some parts of the brake system fails. Various types of new brake systems have been developed in last decade or so in order to meet these new functional requirements, such as ECB, MKC1、IBC, iBooster and ESP-hev, etc. Based on the research and analysis of the current brake systems, this paper presents a novel electro-hydraulic brake system, which can better meet the functional requirements. The system mainly contains a master cylinder, 2 brake hydraulic cylinders, 2 drive motors, 2 transmission mechanisms, 13 solenoid valves, pedal force simulator, etc. The proposed brake system is essentially a brake-by-wire system (BBW). Since the proposed brake system uses a dual motor along with two brake hydraulic cylinders, the system has advantages in providing fast pressure response, flexible working modes, high precision and strong fault tolerance. In order to facilitate the study of pressure control algorithm for the proposed brake system, this paper firstly establishes a mathematical model of the brake system, then a multiplexed time-division pressure control algorithm is proposed to realize the simultaneous or partially simultaneous pressure control, which can ensures the high precision and short response time. Finally, based on the model of the proposed brake system, some extensive simulation and experiment have been conducted, which demonstrate the validity and effectiveness of the proposed multiplexed time-division pressure control algorithm.