This will help to reduce cost by 20 per cent priced roughly at Rs 20 lakh. Also, KHEMTL is set to launch an all new service and safety feature in India, called 'Before Service'.
Commenting on this, Manish Motwani, managing director, Kinetic- Hyundai Elevators & Movement Technologies said, "Affordable housing is gaining momentum in India and to cater to the requirement of this fast growing segment we are exploring an economy range elevators. We understand that in India with strides in economic growth and infrastructure middle class housing is going to grow as the fastest segment in the near future. Any manufacturing activity that we may undertake in India will be based on our capability to cater to the mid rise economy elevator. We will also continue to focus on our present core strength of high speed high rise elevators especially for Metros cities."