The team at German engineering company ThyssenKrupp have revealed a lift, which can not only move up and down but side to side.
Multi uses strong magnets, rather than the traditional cables, allowing for the variety of movement.
The company promises it will mean shorter waiting times, a significantly increased capacity, a much smaller footprint and substantially reduced weight and mass.
They also hope it can be used for the growing number of people living in cities after it was revealed 70 per cent of the world's population will live in a city by the end of the century. These elevators allow buildings to be built higher because of the lack of constraints on the lifts in the building.
ThyssenKrupp are currently testing their lifts in a 246 metre tower in in Rottweil, Germany.
Writing on their website about the test tower, they shared: "Our one-of-a-kind test research center will provides the perfect environment for testing and certifying innovations in elevator technology such as our rope-less MULTI system.
"Located in Rottweil, Germany, the 246-metre tower will help dramatically reduce the time required to develop skyscrapers worldwide. With 12 test shafts and travel speeds of up to 18 metres per second, the tower will help us meet current and future urban challenges. Three shafts will be dedicated to testing and certifying our cable-less MULTI elevator system."
The elevator's path is made in a loop formation, allowing multiple cabins to travel up one side whilst others come down on the other side.
Explaining how it works, they added: "MULTI's innovative exchange system allows the linear drive and guiding equipment to make 90 degree turns by leveraging the linear motor technology developed for the magnetic levitation Transrapid train.
"With MULTI, multiple cabins travel safely up one shaft and down another in a single continuous loop, much like a circular train system on a vertical plane. The only visible difference to passengers - and it's a welcome one - is that the doors open every 15 to 30 seconds, despite having fewer shafts compared to standard elevator systems."