The elevator developed with a cutting edge advanced technologies by Mitsubishi which ensures efficient utilization of power. The traction machine is utilized for the generation of maximum power with the help of regenerative converter. Moreover, the intelligent and effective utilization of energy is made possible by the Joint-Lapped Motor and energy saving mechanism of the product. The product contains a choice of regenerative converter which efficiently utilizes the power. As almost all elevators operates using electricity called as powered operation and in case of regenerative operation when a person or a heavy load in moving upward or downward, the traction machine present in the device itself functions as a power generator. Even the generation of the power by the traction machine operation normally degenerated as heat, the regenerative converter again transfers the power to the distribution transformer and put in the electric network of the building with the electricity of the power supplying unit. In comparison with the similar type of the elevators with no regenerative converter, this product is capable of saving lot of energy with high efficiency.