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ThyssenKrupp Develops Cable-Free Elevator Propelled by Magnets

ThyssenKrupp AG has developed the world’s first cable-free system that uses magnets to propel elevators through buildings.

The system, which uses the same magnetic levitation -- or maglev -- technology used in some high-speed trains, can move passengers horizontally as well as vertically and allows multiple elevators to pass through a single shaft, the German manufacturer said today in a statement. Cabins run in a loop traveling at 5 meters (16 feet) a second, meaning passengers wait only 15 to 30 seconds for the next ride.