High-temperature superconducting (HTS) maglev trains have the unique advantages of self-stabilization, no-drag, environmentally friendly, safe and reliable, and suitable for high speeds. However, the linear motors used as propulsion systems are easy to generate the unavoidable normal forces interference on the train. Thus, improving the traditional propulsion system limitation and reducing the construction cost is an important issue, to promote the development of the HTS maglev technology. In this study, based on the HTS maglev train prototype, the dynamic electromagnetic force of the permanent magnet electrodynamic wheel (PMEDW) is analyzed by a high-speed multifunctional test rig, and its dynamic characteristics are performed on a 165-m test line. Specifically, the basic configuration and operation principle analysis of the proposed PMEDW prototype are presented by the analytical model calculation and finite element simulation. In addition, experimental and simulation results are used to establish the prototype’s dynamics model. The velocity, propulsion force, and acceleration distance at different rotation speeds and working gaps are examined. Finally, the prototype vehicle operation performance is tested on an existing HTS maglev test line. It can be found from the experimental results that the maximum velocity of the prototype can be up to 3 m/s with the number of rotational turns of the PMEDW set to 68, and the test velocity change process of the prototype is consistent with the results of the dynamics simulation. The significance of this study can be used as a novel driving technology in maglev systems by offering reliable performance.