Richard Branson's Virgin Group makes investment in Hyperloop One

By James Henderson
Richard Branson’s Virgin Group has invested in Hyperloop One system that can move people or goods at speeds of up to 670mph. As part of the deal, Bra...

Richard Branson’s Virgin Group has invested in Hyperloop One system that can move people or goods at speeds of up to 670mph.

As part of the deal, Branson will join Hyperloop’s board of directors, while the company will become known as Virgin Hyperloop One.

“This is an incredibly innovative and exciting new way to move people and things at airline speeds on the ground,” said Branson.

“With Virgin Hyperloop One, passengers and cargo will be loaded into a pod, and accelerate gradually via electric propulsion through a low-pressure tube.

“The pod quickly lifts above the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag. We’re incredibly excited about the technology behind Virgin Hyperloop One and the way it could transform passengers’ lives.”

The system, which could be operational by 2021, will focus on passenger and mixed-use cargo service, in addition to the creation of a new passenger division.

SEE ALSO:

If successful, it could dramatically cut travel times for commuters or freight forwarders.

For example, the almost 390-mile journey from London to Glasgow would be cut from the current time of four hours and 29 minutes to 42 minutes.

“We have a new ally in our mission to reinvent transportation, and it’s someone who’s changed the industry a few times already in his career,” said Shervin Pishevar and Josh Giegel, Co-Founders, and Rob Lloyd, CEO, Hyperloop One, in a statement.

“As part of the partnership, our company’s name will be changing to Virgin Hyperloop One over the coming months. Virgin and Hyperloop One working together presents a differentiated brand that’s instantly recognisable around the world and lends tremendous credibility as we scale.”

Share
Share

Featured Articles

EU Supply Chain Law: Key Supply Chain Consulting Firms

The EU Supply Chain Law, also known as the Corporate Sustainability Due Diligence Directive (CSDDD), is set to hold companies' supply chains to account

The Categories – Part 3: Procurement & Supply Chain Awards

Mark your calendars for the debut of The Global Procurement & Supply Chain Awards 2024 at Procurement & Supply Chain LIVE London on 24 September 2024

Meet our Sponsors: Procurement & Supply Chain LIVE New York

ProcessUnity, ServiceNow, and Beroe are sponsoring Procurement & Supply Chain LIVE New York, due to take place on 5-6 June 2024

The Categories – Part 2: Procurement & Supply Chain Awards

Digital Supply Chain

Top 100 Women 2024: Sheri Hinish, EY – No. 3

Digital Supply Chain

Top 100 Women 2024: Gretchen McCarthy, Target – No.2

Logistics