Sir Richard Branson’s Virgin Group travels to a new destination as it plunges investment into Hyperloop One, to build a pod-based transportation system.
Following the investment agreement yesterday, the two companies have decided to rebrand the system as ‘Virgin Hyperloop One’ and create the ‘world’s most revolutionary train service’, although the investment amount is currently undisclosed.
The finished product aims to carry passengers and cargo in a pod, accelerating using electric momentum through a tube and using magnetic levitation the pod lifts above the track, gliding through the air at speeds of over 100mph.
Currently in testing, Hyperloop One has reached speeds of 190mph but the future goal is 650mph. Virgin said: “This is an incredibly innovative and exciting new way to move people and things at airline speeds, on the ground.”
Branson’s group already has the expertise needed to create the innovation as it currently operates transport across airlines, trains and space and this investment is the future of Virgin as the group outlines its future goals.
Virgin said: “We have long been passionate about innovation in transport, especially the development of technology that could transform peoples live. This is just the latest example.”
Technology in transport is already developing, as manufacturers look to make autonomous and electric vehicles, but Branson’s infamous group will take them far in the future, ahead of any other transportation or technology takes this to another level through the investment putting Virgin on top.
“Virgin Hyperloop One will be all-electric and the team is working on ensuing it is a responsible and sustainable form of transport too,” said Virgin. Virgin Hyperloop One is just another step into the future to establish both brands and conquer the next stage in technology development.
The super high-speed transportation system is still in early developments, but will revolutionise travel for both passengers and cargo businesses in the future, putting the two companies at the forefront of competition.
Hyperloop One’s board hailed the investment saying it will take the company global, and create a new future for both companies with the rebranded technology.
Josh Giegel, co-founder and President of Engineering of Hyperloop One. “The combination of our proven technology and Virgin’s expertise in transportation, operations, safety and passenger experience will accelerate the commercialization phase of our company’s development.”
Virgin and Hyperloop One hope to transform the lives of people around the world, with projects being worked on that aim to bring the technology across the Middle East, Europe, Canada and the US.
Giegel said: “Together with Virgin, we will not only transform how we live, we will rethink how it feels to travel by creating a passenger experience that people will enjoy and look forward to riding. Our goal is to make travel fun again.”