Richard Branson To Invest In Elon Musk's Hyperloop One

by Antonio Miles October 14, 2017, 0:41
Richard Branson To Invest In Elon Musk's Hyperloop One

As part of the deal the company will be renamed Virgin Hyperloop One and enter Sir Richard's Virgin Group umbrella.

The global strategic partnership will focus on passenger and mixed-use cargo service in addition to the creation of a new passenger division. Headquartered in Los Angeles, the company was Co-founded by Executive Chairman, Shervin Pishevar and President of Engineering, Josh Giegel, and is led by CEO Rob Lloyd.

First proposed by Elon Musk in a paper in 2013, Hyperloop transport system revolves around the idea of allowing people to cover more distance in less time through a pod which magnetically levitates in a low-pressure tube and propels at near supersonic speeds (around 1,000kmph).

Hyperloop One held its latest test run of a transport pod in a tube in late July in the Nevada desert. The exact size of Virgin's investment has not been disclosed.

"Virgin has been known for investing in and creating innovative companies over the years, and I look forward to making history together as we bring Hyperloop to the world as Virgin Hyperloop One". "From our airlines to our trains to our spaceline, we have always been passionate about innovation in transport too, especially the development of technology that could transform people's lives".

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"Our goal is to make travel fun again".

Branson said during the second phase of testing, the Hyperloop team achieved a top speed of 192 miles per hour, and the longest test was 10.6 seconds.

While the test facility's overall structure has been completed, Hardt will continue installing hardware that will enable it to test the system's magnetic levitation and vacuum capabilities.

A test sled speeds down a track during the 2016 test.

One of its spaceships was involved in a fatal crash in October 2014, after which an investigation by the US National Transportation Safety Board found that the pilot had unlocked the spaceship's "feather system" prematurely resulting in the vehicle breaking apart mid-air. The company has been working toward space tourism with its Virgin Galactic service. Around the world, they'll work with many different operators, chosen by customers.


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