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"This new range of elevators will help us further strengthen our competitiveness in the new equipment market, in what is presently the second largest in the world, after China," Ehrnrooth said.
The new range of elevators are upto 35 per cent more energy efficient than the earlier variants, he said.
The company said the second manufacturing unit being set up at near Chennai was expected to be ready by mid-2019.
KONE India currently has a production unit near Chennai which produces elevators for the domestic market and also to Bangladesh, Nepal and Sri Lanka. The company has over 40 branches and employs about 4,500 people, it added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)