Development company for Hyperloop emerges from stealth mode
Well, Elon Musk can relax now.
Stay updated with breaking news from Hyperloop Transportation Technologies Inc. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Well, Elon Musk can relax now.
Most employees were laid off and the company is trying to sell its remaining assets.
Hyperloop One, the futuristic transportation company, is reportedly shutting down, facing financial struggles, laying off most employees, and seeking to sell assets
The company had captured the public’s imagination since its founding in 2014, a year after Elon Musk released a white paper outlining a vision for hyperloop technology. The concept was a tantalizing promise of a new kind of transportation technology — and an end to traffic.
(Bloomberg) -- Hyperloop One, the futuristic transportation company building tube-encased lines to zip passengers and freight from city to city at airplane-like speeds, is shutting down, according to people familiar with the situation.Most Read from BloombergIran Sends Warship to Red Sea After US Sinks Houthi BoatsQuake Hits Northwestern Japan, Killing Four, Wrecking HomesIndia’s Crude Oil Imports From Russia Plunge on Payment IssuesUS Pushed Dutch Maker of Chip Equipment to Block Chinese Sales