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Hyperloop One Is Now Virgin Hyperloop One After Major Investement

Hyperloop One Is Now Virgin Hyperloop One After Major Investement

Virgin Hyperloop One will also be all-electric.

Richard Branson, the billionaire behind the Virgin brand, has reportedly invested an undisclosed sum in Elon Musk's barmy Hyperloop supersonic tube train project, seemingly competing with the billionaire ideas man's own firm.

Hyperloop One claims to be the only company in the world to have built a fully operational Hyperloop system.

The announcement today says that this new global partnership will continue to focus on Hyperloop One as a passenger and mixed-use cargo system. The vehicle then floats above the track using magnetic levitation and travels at high-speed over long distances due to ultra-low aerodynamic drag. This was presumably created in response to Hyperloop One's successful summer testing, which saw the company actually sending its passenger pod down its test track in the Nevada Desert for the first time.

Virgin is a leading global investment group and one of the world's most recognised and respected brands. The company will be renamed Virgin Hyperloop One.

More news: India vs Australia, 2nd T20I

Mr Branson joined a $85m funding round of Hyperloop One last month, which valued the company at more than $700m, according to Recode.

"Ever since our creation, Virgin has been known for disruption and investing in innovative companies", said Branson.

"Virgin Hyperloop One are leading the way in these efforts", he continued, noting that the company is "working on exciting projects in the Middle East, Europe, India, Canada, and the United States".

"Our goal is to make travel fun again".

Virgin Galactic, which was founded by Branson as the world's first commercial spaceline and operates under Galactic ventures, said earlier this year that it was on track to begin commercial passenger spaceflights before the end of 2018. The West Coast Main Line, which HS2 will mostly duplicate, is at near full capacity during morning peak hours on its southern stretches, with 200kph (125mph) trains running at intervals of just 120 seconds. During this trial they used full-scale Hyperloop passenger pods at their DevLoop site in Nevada, in the US.


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