KONE entered into a strategic alliance with Toshiba Elevators and Building System Corporation in 1998, expanding the relationship through cross-ownership in 2002. Through this alliance, Toshiba has the right to manufacture and market elevators based on KONE’s machineroom-less technology in Japan.
In 2004, KONE and Toshiba agreed to strengthen their alliance through a long-term collaboration in the advancement of high-rise elevator technology. As a first step, KONE and Toshiba agreed to a licensing arrangement enabling KONE to supply high-speed double-deck elevators based on Toshiba’s proven technology and Toshiba to gain access to new markets outside Asia. The Alliance partners also agreed to exploit, on a case-by-case basis, the potential for collaboration in competing for and carrying out mega-projects around the globe.
In April 2005, both parties agreed to further strengthen their alliance by establishing an independent joint venture company for escalator production in China.