Magnet powered elevators move passengers up, down and side-to-side

German steel and engineering company ThyssenKrupp is working on producing the world’s first cable-free elevator that uses magnets to propel through buildings.

According to ThyssenKrupp, the new ‘MULTI’ system will use the same magnetic levitation - or maglev - technology used in some high-speed trains, which prevents the moving object from touching the tracks along which it runs.

The next generation elevators are also capable of moving both vertically and horizontally and can accommodate multiple cabins travelling through a single shaft at one time.

Each cabin runs in a loop travelling at 5 metres a second, meaning passengers wait only 15 to 30 seconds for the next ride.

The MULTI is designed for mid- and high-rise buildings, with an optimal height of at least 300 metres.

ThyssenKrupp plans to have a prototype elevator running by the end of 2016.

Video: ThyssenKrupp

Courtesy Gizmodo