From 1999 to 2001 through long-term cooperation and frequent exchanges, the company and Shanghai Jiaotong University gradually achieved mature technology and worked together to develop a gearless traction machine having proprietary intellectual property rights. Up till now, the research and development of this technology is still representing the trend of future development of the elevator industry. Machines using this technology do not need excitation and have small starting currents but extremely high transmission efficiency and more reasonable structures. Compared with traditional traction machines, they have higher efficiency, lower noise, and better environmental and energy-saving performance. They significantly reduce the cost by saving up to more than 30% of energy. Particularly, after the transmission mechanism is removed, the structure of the machine is lighter, smaller, and more compact. It can be directly installed in the shaft to minimize the building area and cost.